Bmg Accountants & Tax Advisors

03/06/2026

03/06/2026

Great to be attending The World Heart Rhythm Reception at The House of Commons .

21/05/2026

Nice surprise to receive an invite to the Palace of Westminster in association with World Heart Rhythm Week ❤️

18/05/2026

You are warmly invited to attend the next Northern Ireland Cardiomyopathy Support Group meeting:

📅 Saturday 23rd May
⏰ 11:00am – 1:00pm
📍 The Dunsilly Hotel, Antrim

We’re delighted to welcome Gillian Thompson, Head of Service (Cardiac) at Northern Ireland Chest Heart & Stroke, as our guest speaker.

Gillian will provide a helpful overview of the support services available, including:
Mental health support
Career guidance
Medication advice
Benefits and practical support
This is a great opportunity to connect with others, ask questions, and learn more about the resources available to support you or your loved ones.

Whether you’ve attended before or are new to the group, you’ll be very welcome.

Please feel free to share this invitation with anyone who may benefit.

If you plan to attend, a quick reply would be appreciated to help us with arrangements.

24/04/2026

Most businesses wouldn’t drive the same car for 20 years.

So why are so many still running their business on systems they built on day one?

A notebook.
A spreadsheet.
A “this does the job for now” approach.

It works… until it doesn’t.

Because as your business grows, complexity increases. Transactions increase. Decisions get bigger. And suddenly, the system that once kept things simple starts slowing everything down.

The real question isn’t whether it worked in the past.

It’s whether it still supports the business you have today.

24/04/2026

You wouldn’t keep driving the same car forever.

So why are so many businesses still running on the same old notebook or spreadsheet they started with?

It worked back then — when things were simple.

But business doesn’t stay simple.

More customers. More transactions. More decisions.

And suddenly that “simple system” starts feeling messy, slow, and frustrating.

The question is:

Is your way of keeping on top of things helping your business now… or holding it back?

24/04/2026

With the start of the new tax year comes change. Financial Accountantcovers off some of the key tax developments, and other important details, that advisers need to know.

04/04/2026

From April 2026, HMRC wants to hear from you four times a year - not just once.
Making Tax Digital (MTD) for Income Tax is HERE.

And if you’re a sole trader or landlord earning over £50,000, you need to pay attention.

Here’s what’s changing:

• You must keep digital records using compatible software
• You’ll submit quarterly updates to HMRC
• Your annual self-assessment process is being replaced with a new digital return

The thresholds are dropping too:
£50k+ → April 2026
£30k+ → April 2027
£20k+ → April 2028

This means MORE small businesses will be affected each year.

The good news? You don’t need to panic.

You DO need to:
1. Check if you’re in scope
2. Get set up on MTD-compatible software
3. Start keeping clean, regular digital records NOW

This is exactly what we help our clients with at BMG Accountants. We’ll get you compliant without the stress.

👉 Not sure if MTD affects you? Let’s talk.

27/03/2026

HMRC has recently launched a new campaign reviewing businesses whose total income reported on tax returns exceeds the UK registration threshold (£90,000). As part of this initiative, HMRC is issuing letters suggesting them to register for VAT. There are no contact details on the letter in case businesses want to discuss their position with HMRC.

These letters are based on total income, not taxable turnover, which is a crucial distinction.

For many businesses, this is nothing to worry about:
-- If all your income is exempt from VAT, then you cannot register for VAT, even if your turnover exceeds £90,000.
-- In these situations, the HMRC letter can generally be safely disregarded.

But for those with taxable or mixed supplies, this review is essential:
-- You must assess whether your taxable turnover alone exceeds the VAT registration threshold.
-- If your taxable turnover has gone above £90,000 (or crossed historical VAT threshold) in any rolling 12‑month period, you are required to register for VAT immediately.

This HMRC campaign serves as a timely reminder to:
-- Understand the VAT treatment of all your income streams.
-- Distinguish clearly between taxable, exempt, and outside‑scope supplies.
-- Perform monthly rolling 12‑month turnover checks to avoid compliance risks.

If you are unsure about your VAT position, now is the time to review it carefully.

27/03/2026

⏳ The Tax Year End is Fast Approaching – Are You Prepared?

As we head towards 5th April, now is the time for business owners to take action—not after the deadline has passed.
Here are a few key areas to consider before the tax year ends:

✔️ Use Your Allowances
Have you made full use of your personal allowance, dividend allowance, and pension contributions?

✔️ Pension Contributions
Making contributions before year-end can be one of the most tax-efficient ways to extract profits.

✔️ Review Your Profit Levels
Is there an opportunity to accelerate or defer income or expenses to manage your tax position?

✔️ Capital Expenditure
Planning to invest in equipment or vehicles? Timing could make a significant difference to your tax bill.

✔️ Director Salary & Dividends
Are you taking the most tax-efficient mix?

✔️ Bad Debts & Stock
Now is the time to review and write off anything that shouldn’t be sitting on your balance sheet.

✔️ Plan, Don’t Panic
Good tax planning isn’t about last-minute decisions—it’s about making informed choices before the deadline.
If you’re unsure whether you’re in the best position ahead of the year end, now is the time to have that conversation.

📩 Feel free to reach out if you'd like to review your situation.