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JCM Accountancy Limited

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JCM Accountancy Limited

Precision in Numbers. Confidence in Business.

JCM Accountancy Limited provides premium accountancy and taxation services, delivering expert guidance across Accounts, VAT, Payroll, Bookkeeping, Xero, Tax Planning and Business Support.

21/05/2026

🚗 Mileage Allowance Increase — Now Approved

The approved mileage allowance has officially increased from:

45p per mile (first 10,000 business miles)
to
55p per mile

📍 Backdated to April

A significant update for employees, company directors, sole traders and business owners using their own vehicle for business travel.

If you do not receive the full 55p per mile from your employer, you may still be entitled to claim tax relief on the difference through HMRC.

✔ Increased support against rising motoring costs
✔ Enhanced reimbursement opportunity
✔ Potential retrospective benefit from April

Maintain accurate mileage records.
Understand your entitlement.
Claim with confidence.

For tailored advice on business mileage claims, employer reimbursements and tax relief, contact JCM Accountancy Limited.

Trusted Advice. Lasting Value.

11/05/2026

The biggest trigger for a P11D vehicle benefit?
👉 Personal use

And this is where most directors get it wrong.

At JCM Accountancy Limited, we see this all the time —
people assume “limited use” means no tax.

It doesn’t.

Here’s how HMRC views it 👇

👉 Company cars
If the car is available for any personal use — it’s a taxable benefit.
There’s no “small use” exemption.

Even something as minor as:
• Weekend use
• School runs
• Personal errands

= P11D benefit + tax charge

⸻

👉 Company vans (different rules — but still strict)

A van is only NOT taxable if:
✔ Private use is insignificant
✔ Primarily for business use

💡 “Insignificant” means:
• Commuting to and from work
• Very occasional, minor personal trips

⸻

⚠️ Where it crosses the line:

If the van is used for:
• Regular personal errands
• Family use
• Weekends away
• Any ongoing private use

👉 It becomes a taxable benefit
👉 Must be reported on a P11D

⸻

📉 What we see most:
• “It’s just occasional use” (but it’s not insignificant)
• No clear restriction on private use
• No company policy in place
• Assuming vans are automatically tax-free

⸻

⚠️ Why this matters:
HMRC doesn’t just look at the vehicle —
they look at availability for personal use

If it’s available, it’s usually taxable.

⸻
If you want to avoid a P11D charge, private use needs to be genuinely restricted and evidenced

Otherwise — expect a tax bill.

⸻

📩 JCM Accountancy Limited — helping directors stay compliant and avoid unnecessary tax exposure.

⸻

09/05/2026

Thinking of bringing a double cab pick-up into your limited company?
There’s a right way to do it — and a very expensive wrong way.

At JCM Accountancy Limited, this is one of the most misunderstood areas we see.

Here’s the smarter approach 👇

👉 Not all double cab pick-ups are treated equally for tax
The key factor is payload — over 1 tonne, and it may qualify as a commercial vehicle (but rules are tightening)

👉 If it’s treated as a company car, the tax cost can be significant
Especially if it’s diesel or petrol

👉 This is where hybrid double cab pick-ups come into play
Lower emissions = reduced Benefit in Kind (BIK) compared to traditional models

👉 If structured correctly, you can benefit from:
• Corporation tax relief on purchase
• VAT recovery (if criteria met)
• Lower personal tax exposure vs standard vehicles

⚠️ But here’s the reality:
Recent changes and HMRC scrutiny mean many pick-ups are no longer automatically treated as vans

And getting this wrong =
❌ Unexpected BIK charges
❌ Higher personal tax bills
❌ Compliance issues

📉 What we’re seeing:
• Clients assuming all pickups qualify as vans
• No planning around emissions
• Vehicles purchased personally instead of through the company
• Missed tax opportunities

If you’re considering a double cab pick-up, the spec, fuel type, and structure matter

Done right — it can be highly tax efficient
Done wrong — it becomes a costly mistake

📩 JCM Accountancy Limited — helping business owners structure smarter, not just cheaper.

⸻

07/05/2026

If you’re a director or employer providing benefits, your obligations don’t end with payroll.

P11Ds are where many businesses get caught out.

At JCM Accountancy Limited, we regularly see errors, missed filings, and misunderstandings around benefits in kind — and HMRC is paying attention.

Here’s what matters 👇

👉 A P11D is required for each director or employee receiving benefits
(e.g. company cars, private medical, loans, or other perks)

👉 These benefits must be reported accurately to HMRC
— not through payroll, but via the P11D (unless payrolled)

👉 You may also need to submit a P11D(b)
This confirms the total benefits provided and calculates Class 1A National Insurance

👉 Deadlines are strict:
• 6 July – P11Ds must be submitted
• 22 July – Class 1A NIC must be paid

⚠️ Why this matters:
Incorrect or late submissions can lead to penalties, interest, and HMRC enquiries

📉 Common issues we see:
• Benefits missed entirely
• Incorrect valuations (especially company cars)
• Confusion between payrolled benefits and P11Ds
• P11D(b) not submitted

✅ Bottom line:
If you’re providing benefits, your reporting needs to be accurate, complete, and on time

This isn’t an area to overlook — it’s one HMRC checks closely.

📩 JCM Accountancy Limited — supporting businesses with compliant, accurate reporting and peace of mind.

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05/05/2026

If you’re a director or employee of your own limited company, dividend reporting on your Self Assessment is more nuanced than many realise — and this is where costly mistakes are often made.

At JCM Accountancy Limited, we’re seeing increasing HMRC scrutiny in this area.

Here’s what you need to get right 👇

👉 Dividends must be declared in the dividend section of your Self Assessment
That remains unchanged — however, it’s only one part of the overall picture.

👉 If you’re a director or employee, your return must also reflect this within the employment section
You are not simply a shareholder — your role within the company must be clearly disclosed.

👉 You must confirm your position within the company (e.g. director)
This ensures alignment between your PAYE income, dividends, and company filings.

👉 You are required to disclose that the company is a close company
This applies to the majority of owner-managed businesses, typically controlled by 5 or fewer shareholders.

👉 Consistency is critical across all records:
• PAYE submissions
• Dividend vouchers and declarations
• Statutory accounts
• Personal Self Assessment

⚠️ Why this matters:
HMRC is increasingly data-driven. Discrepancies between your employment status, dividend income, and company records can trigger enquiries, delays, or penalties.

📉 Common issues we identify:
• Dividends declared without supporting documentation
• Director/employment status not correctly disclosed
• Misalignment between company accounts and personal returns
• Treating dividends as separate from employment — which they are not from HMRC’s perspective

✅ The bottom line:
Your Self Assessment must present a complete and consistent picture of your income and position within your company.

This is not an area to estimate or overlook.

If you want confidence that everything is aligned and compliant before submission, it’s worth addressing it now — not after HMRC raises questions.

📩 JCM Accountancy Limited — supporting directors and business owners with accurate, compliant, and strategic tax reporting.

⸻

04/05/2026

Making Tax Digital for Income Tax is here — and it’s your responsibility to be ready.

This isn’t something HMRC will set up for you.

👉 If you’re required to comply, you must register yourself
👉 You must ensure your records are digital and compliant
👉 And you must be ready to submit quarterly updates

⚠️ A common misconception:
Many assume HMRC will notify or automatically enrol them.

They won’t.

Responsibility sits firmly with the taxpayer.

⸻

📉 What we’re already seeing:
• Businesses unaware they need to register
• No digital record-keeping in place
• Last-minute panic before deadlines
• Increased risk of penalties

⸻

If you fall within Making Tax Digital for Income Tax, you need to act — not wait.

Getting this wrong isn’t just inconvenient, it can become costly.

⸻

📩 JCM Accountancy Limited can assist with:
• Registration
• Software setup
• Ongoing compliance
• Ensuring you meet HMRC requirements with confidence

⸻

22/04/2026

⚠️ Important HMRC Update for Company Shareholders ⚠️

If you regularly waive your dividends so another shareholder can take more, or to reduce your own personal tax liability, HMRC is now taking a much closer look at these arrangements.

Repeated dividend waivers could be challenged if HMRC believes they are being used mainly for tax purposes.

One possible solution is issuing different classes of shares, often called “alphabet shares”.

For example:
• Shareholder 1 holds “A” shares
• Shareholder 2 holds “B” shares

This allows different dividends to be paid to different shareholders without relying on waivers.

Alphabet shares can provide more flexibility and a more robust tax position, but they must be set up correctly and may require changes to your company’s articles of association.

If this applies to you, now is the time to review your company structure before HMRC does.

Contact JCM Accountancy Limited to discuss your options.

15/04/2026

🏡 Sold a property near the tax year end? This one catches people out…

If your sale completes before 5 April 26, but your 60-day reporting window runs into the next tax year, here’s what happens:

⚠️ You STILL have to:
• Report the gain within 60 days
• Submit your UK Property Account return

💡 BUT — here’s the opportunity:

If that 60-day deadline falls after 6 April 26, the gain belongs to the new tax year for Self Assessment purposes.

👉 That means:
• Your final Capital Gains Tax position is settled in your tax return
• Payment deadline could be 31 January 2027 (depending on the tax year)

🚨 Important:
You must still file your Self Assessment tax return BEFORE your 60 days deadline if it falls into the next tax year — or you risk penalties.

This is where timing matters — and getting it wrong can cost you.

📩 JCM Accountancy Limited can plan this properly so you stay compliant and manage cash flow smartly.

14/04/2026

🏡 Sold a property? Don’t get caught out by the 60-day rule!

If you’ve made a gain from selling a UK residential property, you MUST:

✅ Declare your Capital Gains Tax to HMRC
✅ Pay the tax owed
⏱️ Within 60 days of completion

Missing this deadline can lead to penalties and interest — and HMRC are strict on this.

💡 Key things to remember:
• Applies to UK residential property sales
• Even if you already complete a Self Assessment return
• You report through a separate HMRC property account

Not sure what your gain is or how much tax you owe? That’s where we come in.

📩 Get in touch with JCM Accountancy Limited — we’ll make sure everything is calculated, reported, and paid correctly (and on time).

09/04/2026

Not sure what service you need? Let’s break it down 👇

At JCM Accountancy, we offer a few options — and choosing the right one matters.

📌 Tax Return Only Service
We prepare your tax return from records provided by yourself.
This can include:
✔️ P60
✔️ Dividend income
✔️ Interest income
✔️ Cryptocurrency gains & losses
✔️ Pensions
✔️ Work-related expense claims
✔️ And more

📌 Accounts + Tax Return Service
This is our most popular option.
We:
✔️ Prepare your accounts from digital records provided by yourself
✔️ Review your figures and identify any missing expenses you should be claiming
✔️ Complete and submit your tax return
✔️ Hold tax planning meetings to help reduce your bill
✔️ Provide year-end meetings so you understand your numbers and next steps

📌 Bookkeeping + Accounts + Tax Return
This is for clients with no digital records in place.
You provide bank statements and loose receipts, and we take care of:
✔️ Organising your records
✔️ Completing the bookkeeping
✔️ Preparing your accounts
✔️ Submitting your tax return

💡 Simple rule:
If you’ve done the numbers → Tax Return Only
If you have digital records → Accounts + Tax Return
If you have receipts & bank statements only → Bookkeeping + Full Service

Choosing the right service saves time, avoids errors, and keeps you compliant ✔️

📩 Not sure which you fall into? Drop us a message — we’ll point you in the right direction.

Address

144-146 Fowler Street
South Shields
NE331PZ

Opening Hours

Monday	9:00am - 5pm
Tuesday	9:00am - 5pm
Wednesday	9:00am - 5pm
Thursday	9:00am - 5pm
Friday	9am - 3pm

Website

https://www.jcmaccountancy.co.uk/

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