GGM Accountancy Ltd

19/06/2026

Alert for sole traders and landlords: new income thresholds mean more people will need to join Making Tax Digital soon. It's essential to check your latest self-assessment and be ready. Want to know what this means for you? Read on to find out why it matters.

Making Tax Digital (MTD) for Income Tax is being rolled out in stages for sole traders and landlords who complete self-assessment returns. Liability to register depends on the level of “qualifying income”, which includes income from self-employment and property.

18/06/2026

Alert for UK businesses: Have you explored claiming R&D tax relief yet? It could open doors to investing in new tech and scientific advances. Find out why it matters for your company now and what counts as eligible projects. Read on to see if your innovation could qualify.

Research and Development (R&D) tax relief is designed to support companies that invest in innovation and seek to make advances in science or technology. The scheme offers businesses the ability to invest in new technologies and scientific development in exchange for generous tax reliefs. However, no...

17/06/2026

Alert: Missing years on your National Insurance record could impact your State Pension. Could topping up with voluntary contributions be worth it? Find out why you should check your NI credits and pension forecast before deciding. Read on to see if this applies to you.

Many people are unaware that gaps in their National Insurance (NI) record can affect their entitlement to the State Pension and certain state benefits. In some cases, it may be worthwhile to consider making voluntary NI contributions to fill these gaps.

13/06/2026

In another twist to the long-running filing saga, small companies and micro-entities will have to file profit and loss accounts with Companies House from 2028, but can opt out of publishing the information on the public register.

The government has announced that small companies and micro entities will be required to file profit and loss accounts with Companies House, but with the option of not making them publicly available.

The move was initially put on ice due to concerns it would place undue burdens on affected businesses, with a source close to the then business secretary Jonathan Reynolds telling the Financial Times that “this would not happen”.

However, in a statement released today, the government stated that the reforms will now come into effect from April 2028, rather than April 2027 as planned, giving companies one full accounting year and nine months to get ready.

In addition to the new filing rules, all companies will need to file accounts via commercial software, with the Companies House web and paper-based filing systems closed for accounts filings.

https://www.accountingweb.co.uk/business/financial-reporting/pl-filing-back-on-the-menu-for-small-companies-from-2028?cm-uuid=[uuid,fallback=]&utm_source=AccountingWEB&utm_campaign=09b887a476-EMAIL_CAMPAIGN_2026_01_29_03_38_COPY_01&utm_medium=email&utm_term=0_d44b7c6b8b-476a3044e8-435669880

12/06/2026

From 6th April 2026, an employee whose partner has given birth or is adopting will be eligible for paternity leave from day 1 of employment ( before this date they need 26 weeks service) Subject to eligibility criteria they may also qualify for paternity pay. This includes same s*x partners.

An employee who gives birth or is adopting has the right to 52 weeks leave, and may also qualify to be paid for 39 of those weeks regardless of their length of service.

Subject to eligibility criteria an employee whose partner had given birth or is adopting might be entitled to two weeks paternity leave and pay, this includes same - s*x partners.

Shared parental leave allows parents flexibility in how they arrange and balance their time off and their work in the year after birth, or the adoption of a child.

11/06/2026

Alert for the self-employed: Did you know that everyday business costs could slash your tax bill? Find out what expenses might qualify to ease your finances. Read on to see if you're missing out.

If you are self-employed, claiming all of your allowable business expenses can significantly reduce your tax bill. For example, if your business turnover is £40,000 and you have £10,000 of allowable expenses, you will only pay tax on your taxable profit of £30,000. However, personal spending and ...

10/06/2026

Alert for landlords: Your rental income may be taxed on profit, not rent received, with several allowances and reliefs to consider. Find out why this matters and how to make the most of your deductions. Read on to sharpen your tax knowledge today.

If you receive income from renting out property, it is important to understand your tax obligations and the reliefs that may be available. Rental income is generally taxable, although landlords can deduct certain allowable expenses before calculating the amount of tax due.

10/06/2026

High earners, have you checked if the High Income Child Benefit Charge affects your family? It could impact your Child Benefit payments in ways you might not expect. Find out why staying informed matters to keep your finances on track. Read on to see if this applies to you.

Families claiming Child Benefit should be aware of the High Income Child Benefit Charge (HICBC), which can apply when one member of the household has a higher income.

09/06/2026

Alert for couples: You might be overlooking a tax break that could save you up to £252 this tax year. If one partner earns less, transferring your allowance is simpler than you think. Find out if you qualify and how to claim backdated payments from HMRC. Read on to see if this applies to you.

Many married couples and civil partners could be missing out on valuable tax savings available by claiming the Marriage Allowance. If your circumstances are suitable, this is a reminder to consider the Marriage Allowance, as a simple claim could reduce your tax bill by up to £252 during the 2026-27...

08/06/2026

Pension tax relief could boost your retirement pot by up to 45%! Curious about how tapping into your allowances today might pay off tomorrow? Find out why tax benefits matter now.

Pensions remain one of the most tax-efficient ways to save for retirement, due to a range of tax reliefs and allowances that can help boost retirement savings.