True Profit Bookkeeping & Accountancy

True Profit Bookkeeping & Accountancy Accounting & Bookkeeping practice based in Peterborough area but able to cover all of the UK .
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Range of services include payroll, bookkeeping, Ltd company accounts, Sole trader, VAT returns & CIS Returns

We’ve had a lot of calls this week from people worried about Making Tax Digital (MTD), which is due to start from April ...
20/03/2026

We’ve had a lot of calls this week from people worried about Making Tax Digital (MTD), which is due to start from April 2026 — so we wanted to clear a few things up

The first phase (from 6th April 2026) will only apply to those with self-employment or property turnover over £50,000.

So, what does this actually mean?

In addition to your annual tax return, you’ll be required to submit quarterly updates using MTD-compatible software — that’s 4 submissions , plus the end of year tax return.

We know this can sound overwhelming, but it doesn’t have to be.

If you need help getting set up or managing your submissions, feel free to get in touch or book a call using the Calendly link in the comments. We can take the stress out of the process — you’ll simply need to provide your paperwork each quarter, and we’ll handle the rest.

Don’t panic — just get prepared

National Minimum Wage Rates Increasing from AprilThe UK government has confirmed new National Minimum Wage and National ...
18/03/2026

National Minimum Wage Rates Increasing from April

The UK government has confirmed new National Minimum Wage and National Living Wage rates effective from April.

Here’s a summary of the updated hourly rates:

National Living Wage (21 and over): £12.71 (increase of 50p | 4.1%)
18–20 Year Old Rate: £10.85 (increase of 85p | 8.5%)
16–17 Year Old Rate: £8.00 (increase of 45p | 6.0%)
Apprentice Rate: £8.00 (increase of 45p | 6.0%)

These changes will apply to pay reference periods starting on or after the implementation date in April.

Employers should ensure that all eligible workers are paid at least the new statutory minimum rates.

Are you making the most of your Marriage Allowance?If you’re married or in a civil partnership, you could be missing out...
11/03/2026

Are you making the most of your Marriage Allowance?

If you’re married or in a civil partnership, you could be missing out on tax savings of up to £1,260 by not claiming Marriage Allowance.

Marriage Allowance allows one partner to transfer part of their unused Personal Allowance to the other, helping to reduce the overall tax bill for your household.

You may be eligible if:
✔ One partner earns below the Personal Allowance
✔ The other partner is a basic rate taxpayer
✔ You’re married or in a civil partnership

Many couples don’t realise they qualify, and you may even be able to backdate claims for previous tax years.

The countdown is on! From 6th April, Making Tax Digital (MTD) will apply to self-employed individuals and landlords with...
20/02/2026

The countdown is on! From 6th April, Making Tax Digital (MTD) will apply to self-employed individuals and landlords with:

• £50,000+ turnover in the first year
• Reducing to £30,000+ from April 2027

This means digital record keeping and quarterly submissions using compatible software will be required.

If you’re not sure:
• Whether MTD applies to you
• How your turnover is calculated
• What software you need
• How to get set up properly

Now is the time to prepare — not the week before the deadline.

At True Profit Ltd, we’re helping clients get fully prepared, stress-free and compliant ahead of April.

Just a quick reminder if you haven't paid your tax bill for 24/25 its due by the 31/01/26.
30/01/2026

Just a quick reminder if you haven't paid your tax bill for 24/25 its due by the 31/01/26.

Happy New Year!It’s been a little quiet on here for a while.A quick reminder that the deadline to file and pay your Self...
08/01/2026

Happy New Year!

It’s been a little quiet on here for a while.

A quick reminder that the deadline to file and pay your Self Assessment tax return is 31 January 2026, and it’s fast approaching.

If you’re looking for a new accountant this year, feel free to contact me on 07824 501991 or email [email protected]
to see how I can support your business in 2026.

The deadline if you are filing a paper tax return is 31st October 2025, this is the date they need to be with HMRC. Don'...
29/10/2025

The deadline if you are filing a paper tax return is 31st October 2025, this is the date they need to be with HMRC.

Don't panic as you can still file electronically till the 31/01/26

From April 2026, some sole traders will need to submit their income tax information digitally using compatible software...
08/10/2025

From April 2026, some sole traders will need to submit their income tax information digitally using compatible software. Yes, it sounds a bit techy… but don’t worry — it doesn’t have to be scary!

What it means for you:
• Keep digital records of income & expenses
• Submit quarterly updates online
• Say goodbye to piles of paperwork!

With the right software and a little guidance, MTD can actually make tax simpler, faster, and less stressful. Contact us to see how we can make the process easy.

We’re proud to announce that we are now officially a Silver Xero Partner! This recognition reflects our commitment to pr...
05/09/2025

We’re proud to announce that we are now officially a Silver Xero Partner!

This recognition reflects our commitment to providing top-quality cloud accounting solutions and helping our clients run their businesses more efficiently with Xero.

A big thank you to our amazing clients for trusting us.

Here’s to continuing to support your business with smarter, simpler accounting

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Unit 5, Accent Park
Peterborough
PE26XS

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