08/06/2026
📊 HJS Accountants – May Accountancy Round-Up 🌟
May has been another busy month in the world of accountancy and tax, with several important updates business owners should keep firmly on their radar 👀
🔹 Making Tax Digital (MTD) is now LIVE
One of the biggest changes to the UK tax system in years officially began in April, and May has seen businesses and accountants adapting quickly. Self-employed individuals and landlords earning over £50,000 are now required to keep digital records and submit quarterly updates to HMRC using compatible software.
📅 Key reminder: the first quarterly submissions are due in August 2026 - preparation now can avoid stress later!
🔹 Companies House & HMRC Digital Changes
The government continues pushing forward with its “digital-first” agenda. Businesses should expect increased online filing requirements, tighter compliance checks, and further Companies House reforms aimed at improving transparency and reducing fraud.
🔹 National Insurance Costs Continue to Impact Employers
Recent reports show employer NIC increases are continuing to affect recruitment and payroll budgets across many sectors. Businesses are reviewing staffing costs carefully as economic pressures remain.
🔹 Software Matters More Than Ever
With MTD expanding, choosing the right accounting software is becoming increasingly important. Many businesses are moving away from spreadsheets and towards cloud accounting systems like Xero, QuickBooks, and Sage to stay compliant and streamline bookkeeping.
💡 Our advice this month:
✔️ Review your bookkeeping processes
✔️ Ensure your software is MTD-compatible
✔️ Stay ahead of filing deadlines
✔️ Don’t leave tax planning until year-end
At HJS Accountants, we’re here to help businesses stay compliant, organised, and financially confident throughout 2026 and beyond 🚀
If you’re unsure how the latest changes affect you, get in touch with our team today 📞