MJH Accountants

MJH Accountants A dynamic and forward thinking firm of Chartered Accountants and Tax Advisers serving Lancashire
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A dynamic and forward thinking firm of Chartered Accountants and Tax Advisers serving Lancashire and beyond | Certified Advisors and Silver partners

HM Revenue and Customs has signed a £175m AI partnership with UK tech firm Quantexa, which marks another major step in t...
18/05/2026

HM Revenue and Customs has signed a £175m AI partnership with UK tech firm Quantexa, which marks another major step in the digital transformation of the UK tax system.

With AI-driven data analysis and fraud detection becoming more advanced, HMRC is continuing to strengthen its ability to identify inaccuracies, spot unusual patterns, and close the UK’s £45bn tax gap.

For businesses and taxpayers, this highlights the growing importance of:
✔️ Accurate bookkeeping
✔️ Timely tax reporting
✔️ Strong financial controls
✔️ Professional tax advice

As HMRC invests over £1bn this year into modernising its systems, compliance and transparency are becoming more important than ever.

At MJH Accountants, we help businesses stay ahead with proactive accounting, tax planning, and compliance support in an increasingly digital tax environment.

Give the office a call to book a ticket/table at our ball.
10/05/2026

Give the office a call to book a ticket/table at our ball.

Happy Easter from the MJH Team🐣🎉🎊
05/04/2026

Happy Easter from the MJH Team🐣🎉🎊

Revolut Granted Full UK Banking LicenceAfter several years of regulatory scrutiny and industry lobbying, Revolut has off...
16/03/2026

Revolut Granted Full UK Banking Licence

After several years of regulatory scrutiny and industry lobbying, Revolut has officially received full banking status in the UK following approval from the Prudential Regulation Authority.

The fintech company has now established Revolut Bank UK Ltd, marking a significant milestone in its journey from an e-money provider to a fully licensed bank.

What this means:

• Revolut customers will soon be able to open full UK current accounts
• Deposits will now be protected by the Financial Services Compensation Scheme (FSCS) up to £120,000
• The bank plans to gradually roll out accounts to customers over the coming weeks
• The licence opens the door for new financial services, including lending and additional banking products

Revolut first applied for a UK banking licence in 2021, entering a “mobilisation stage” with a restricted licence in July 2024 while regulators reviewed its operations.

The move represents a major step in the UK’s growing fintech sector, with Chancellor Rachel Reeves describing the firm as “a true pioneer in the UK’s fintech journey.”

With reported revenues of £2.4bn in 2024 and a valuation of around £55bn, Revolut is also planning global expansion into 30 countries by 2030.

For businesses and individuals, this development could bring greater competition and innovation within the UK banking market.

HMRC to Make Online Amendments Mandatory for Company Tax ReturnsHMRC has announced plans to modernise the corporation ta...
13/03/2026

HMRC to Make Online Amendments Mandatory for Company Tax Returns

HMRC has announced plans to modernise the corporation tax filing process by requiring companies to submit amendments to their tax returns online only from 1 April 2027.

Currently, some amendments can still be submitted by letter or correspondence, but this option will be removed as part of HMRC’s move towards a fully digital system. The change will affect around 3.2 million businesses that file corporation tax returns.

Key points:
• From 1 April 2027, amendments to company tax returns must be submitted electronically within the normal statutory time limits
• Amendments sent by post after this date will be rejected and companies will be asked to file them online instead
• The change forms part of HMRC’s wider programme to modernise and standardise company tax administration

Proposed exceptions include:
• Periods currently under HMRC enquiry
• Joint amended returns submitted for group relief
• Situations where HMRC’s online service is unavailable near the filing deadline
• Companies choosing to file in Welsh

Certain statutory exemptions will also remain, including businesses that are digitally excluded for religious reasons and companies in specific insolvency situations.

HMRC is currently consulting on the detailed design of the policy, with the consultation open until 2 June 2026.

If you would like guidance on how these changes may affect your business or corporation tax compliance, our team is happy to help.

Give the office a call to book your place at our charity ball!
09/03/2026

Give the office a call to book your place at our charity ball!

Chancellor Rachel Reeves is reported to have already used up to £3bn of the £22bn fiscal headroom she set out in her Nov...
27/02/2026

Chancellor Rachel Reeves is reported to have already used up to £3bn of the £22bn fiscal headroom she set out in her November Budget. The spending is linked to a series of U-turns and concessions made since the Budget was announced. Sir Mel Stride, the Conservative shadow chancellor, is urging Ms Reeves to clarify whether her March spring statement will effectively become a mini-Budget due to these changes.

A major U-turn involves scrapping the plan to end Covid-era business rate relief. Treasury sources estimate the cost at around £300m, focused mainly on pubs. Other sources claim the cost could be as high as £2.4bn, depending on whether support extends beyond pubs to shops, cafés, and other high-street businesses.

The Business Secretary, Peter Kyle, admitted that they did not know what the full impact of the Budget changes would be beforehand because the Government didn’t have access to information about planned business rates revaluations set to hit the hospitality sector. This has led to the decision reversal.

Meanwhile, re-joining the EU’s Erasmus scheme is estimated to have cost more than £500m, while changes to inheritance tax to exempt more family farms are expected to cost £200m.

Savers rushed to deposit money into cash ISAs in October, driven by speculation that the annual allowance might be cut. ...
25/02/2026

Savers rushed to deposit money into cash ISAs in October, driven by speculation that the annual allowance might be cut. £4.2 bn was added in October – a 75% increase from September’s £2.4 bn.

Of course, the allowance cut speculation did become reality. In the Budget, Chancellor Rachel Reeves confirmed the allowance will drop from £20,000 to £12,000 from April 2027, but only for people under 65. Savers aged 65 and over will continue to have access to the full £20,000 tax-free allowance.

HMRC wants to prevent savers from parking cash in a stocks & shares ISA purely to avoid this lower limit, so they are considering introducing a 20% levy on interest earned on cash held in such ISAs.

A petition asked the Government to create a new tax code for people over state pension age and raise their personal allo...
23/02/2026

A petition asked the Government to create a new tax code for people over state pension age and raise their personal allowance to £25,140. It passed 34,000 signatures, triggering an official Government response.

The Treasury said the proposal is too expensive and rejected the idea, calling it “costly and untargeted.” The Government argues that significantly increasing the allowance for all pensioners would not be a focused use of public funds.

More pensioners will pay tax in coming years due to the frozen personal allowance of £12,570 until 2031, and the Triple Lock increasing state pensions, meaning more retirees will cross the tax threshold. An estimated 420,000 additional pensioners will pay income tax in 2025/26 compared to the previous year.

The State pension is rising close to the tax threshold – from April 2026, the full new state pension will rise to £12,547.60, just £22.40 below the tax-free allowance. This narrow gap means many more pensioners will become taxpayers as pensions continue to rise.

Huge congratulations to Callum Murray on successfully passing all Certificate Level ACA exams first time.Balancing profe...
20/02/2026

Huge congratulations to Callum Murray on successfully passing all Certificate Level ACA exams first time.

Balancing professional responsibilities alongside intensive study requires discipline, resilience, and commitment — and this achievement reflects all three. Passing every exam at this stage is a significant milestone and a strong indicator of the expertise and professionalism being developed.

This accomplishment is something to be extremely proud of, and we look forward to seeing continued progress throughout the ACA journey. Outstanding work and very well deserved.

Address

129 Woodplumpton Road
Preston
PR23LF

Opening Hours

Monday 8am - 6pm
Tuesday 8am - 6pm
Wednesday 8am - 6pm
Thursday 8am - 6pm
Friday 8am - 4pm

Telephone

+441772721704

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