Bradshaw Johnson Chartered Accountants St Neots, Yew Tree House, The Shrubbery, Church Street, Saint Neots (2026)

04/09/2026

Big changes are coming for employers who provide benefits to staff — and now is the time to start preparing! 💼

HMRC has confirmed that the way Benefits in Kind (BiKs) are reported is changing fundamentally. The long-established P11D process is being replaced with mandatory payrolling, meaning the taxable value of employee benefits will need to be reported in real time through payroll rather than via annual forms after the tax year ends.

Here's the timeline:

📅 6 April 2027 — Phase 1 begins. Mandatory payrolling applies to the most common benefits, including:
• Company cars and car fuel
• Vans and van fuel
• Employer-provided medical benefits

📅 6 April 2028 — Phase 2. Most remaining taxable Benefits in Kind move to mandatory payroll reporting

⚠️ What's excluded?
Loans and living accommodation will remain outside the mandatory regime for now. Employers can choose to voluntarily payroll these — registration opens November 2026.

🗓️ What about P11Ds?
P11D forms will still be required for 2025/26 and 2026/27, and for any benefits outside the mandatory scope during 2027/28 — so P11Ds aren't disappearing overnight!

📣 What does this mean for employers?
✅ Benefits will be included in employees' payslips each pay period
✅ Income Tax on benefits will be collected through PAYE, spread across the year
✅ Class 1A National Insurance will also be reported and paid in real time
✅ Employees must be informed about how payrolling affects their pay and tax code
✅ Annual benefit statements must still be provided to employees

HMRC has been clear — employers should not wait until 2027 to start preparing. Payroll software will need to be compatible with the new requirements, and payroll teams will need training before implementation.

This is one of the biggest payroll changes in over a decade, and we're here to help you navigate it. Whether you need help reviewing your current benefits, assessing your payroll software or planning your transition, get in touch today with our expert payroll team.

📞 0800 026 0854
🌐 bjca.co.uk

03/09/2026

Received a penalty from HMRC for missing a tax deadline? Don't panic — you may be able to appeal! 📝

If you have a genuine "reasonable excuse" for missing a deadline, HMRC may cancel the penalty. Here's what you need to know:

✅ What might count as a reasonable excuse?

HMRC considers each case individually, but examples that could qualify include:

🏥 Serious illness — your own or a close family member's
😢 Bereavement
⚡ Unexpected events outside your control
💻 Problems with HMRC's own systems preventing you from filing or paying on time
📎 Loss of essential records due to circumstances beyond your control (e.g. fire, flood or theft)
🖥️ Unexpected failure of computer equipment

❌ What won't be accepted?

Unfortunately, HMRC won't usually accept:

✖️ Simply forgetting the deadline
✖️ Relying on someone else who let you down
✖️ Not having enough money to pay — unless the financial difficulty was caused by a truly exceptional circumstance

⚠️ Key things to remember if you're appealing:

🗓️ You normally have 30 days from the date on the penalty notice to appeal
💬 Explain clearly what happened, when it occurred and why it prevented you from meeting the deadline
📄 Good records and evidence will strengthen your case
⏰ Act as soon as circumstances allowed — HMRC expects you to have put things right without unreasonable delay once the excuse ended

Dealing with HMRC penalties and appeals can feel daunting, but you don't have to face it alone. We can help you assess whether you have a reasonable excuse, prepare your appeal and communicate with HMRC on your behalf. Get in touch. today!

📞 0800 026 0854
🌐 bjca.co.uk

02/09/2026

Do you provide uniforms or clothing to your employees? Here's what you need to know about the tax treatment! 👕

The good news is that most uniforms and protective clothing are exempt from tax and National Insurance — but the rules depend on the type of clothing provided, so it's worth understanding the details.

✅ What's generally exempt?

🦺 Protective clothing required for the job (e.g. hard hats, hi-vis vests, safety boots)
👔 Recognisable uniforms worn only at work
🧺 The cost of buying, cleaning, repairing or replacing qualifying uniform or protective clothing

Where an exemption applies, there's nothing to report to HMRC — happy days! 🎉

⚠️ When does it become a taxable benefit?

If the clothing provided isn't a recognisable uniform or protective item, it's likely to be treated as a taxable benefit. This means:

📄 The cost may need to be reported on a P11D form
💰 The employer may need to pay Class 1A National Insurance
💷 The employee may have tax to pay

This could apply, for example, if you provide branded casual wear that employees can wear outside of work, or clothing that isn't clearly identifiable as a work uniform.

Our top tip? 📝 Keep clear records of any clothing you provide to employees — what it is, its purpose and how it's used. This will help you determine whether an exemption applies and gives you the evidence you need if HMRC ever asks.

Not sure whether the clothing you provide qualifies for an exemption? We can help you review your position and make sure you're reporting correctly. Get in touch.

📞 0800 026 0854
🌐 bjca.co.uk

01/09/2026

Are you self-employed and claiming business expenses? Here's a reminder about keeping the right records — it could save you a lot of stress if HMRC ever comes knocking! 📝

While you don't usually need to submit evidence with your Self Assessment return, HMRC can request your records as part of a compliance check — and you'll need to be able to back up everything you've claimed.

What records do you need to keep? 👇

For each expense, you should be able to show:

✅ What the expense was for
✅ How much was paid
✅ That it relates to your business

Acceptable evidence includes receipts, invoices, bank statements, contracts and other supporting documents. If an expense is used for both business and personal purposes, you'll also need to show how you worked out the business proportion.

What can you claim? 💼

Allowable expenses can include:

🗒️ Office expenses
🚗 Business travel
🛡️ Insurance
📲 Marketing costs
👥 Staff costs
🏢 Business premises costs
💼 Professional fees (including accountancy!)

Personal expenses can never be claimed, and only the business element of mixed-use costs can be deducted.

⚠️ Don't forget about larger purchases!

How you claim for equipment, machinery and vehicles depends on your accounting method. Under traditional accounting, these usually go through capital allowances rather than as day-to-day expenses. Under cash basis, most equipment and machinery can be claimed as an expense — though cars are generally still handled through capital allowances.

Good record keeping not only keeps you compliant — it also helps make sure you're claiming everything you're entitled to and not paying more tax than you need to.

Need help getting your records in order or making sure you're claiming the right expenses? That's exactly what we're here for — get in touch today!

📞 0800 026 0854
🌐 bjca.co.uk

28/08/2026

Important news for pub and hotel owners in England and Wales! 🏺🏨

The Government has launched an independent review into how pubs and hotels are valued for business rates, following widespread concerns after the 2026 revaluation which came into effect on 1 April 2026.

The figures speak for themselves — median rateable values increased by:

🎺 32.8% for pubs
🏨 32.2% for hotels

Compared to just 15.4% across all sectors — meaning pubs and hotels saw increases more than double the average! ⚠️

The review will look at:

🔍 How rents are set and how trading performance affects them
🔍 Whether current valuation methods accurately reflect market conditions
🔍 How comparable properties are valued

Businesses, industry bodies, valuers and other interested parties are being invited to submit evidence — and the deadline is 16 October 2026. The independent review is expected to report by the end of March 2027.

A couple of important things to note ⚠️

Any recommendations accepted by the Government won't affect current rateable values — they'll apply from the next revaluation in April 2029. And the review covers England and Wales only; Scotland is running its own separate review for the licensed hospitality sector.

The Government has also confirmed it expects to provide a wider update on business rates reform at the October Budget on 28 October 2026 — so watch this space!

If you run a pub or hotel and are concerned about the impact of the 2026 revaluation on your business rates bill, or would like help understanding your position ahead of the Budget, we're here to help. Get in touch.

📞 0800 026 0854 | 🌐 bjca.co.uk

27/08/2026

Do you provide loans to employees or directors? Here's something important to be aware of! 💼

If your business provides a loan at no interest or at a rate below HMRC's official rate, this is known as a "beneficial loan" — and it could create a taxable benefit that needs to be reported.

How does it work? 👇

HMRC sets an official rate of interest each year. If an employee or director pays less interest than this rate (or none at all), the difference is treated as a taxable benefit. For the 2026-27 tax year, HMRC's official rate of interest is 3.75%.

For example, if you give an employee an interest-free loan, you'll need to calculate the interest that would have been charged at 3.75% and report that amount as a taxable benefit — either through payroll or on a P11D form.

A few important things to know:

✅ Small loans are exempt! If the total outstanding balance of all loans to an employee doesn't exceed £10,000 throughout the tax year, the beneficial loan rules generally won't apply
⚠️ The official rate can change year to year — always make sure you're using the correct rate for the relevant tax year
📄 Benefits must be reported accurately through payroll or P11D — errors can lead to unwanted attention from HMRC

With the official rate now set at 3.75% for 2026-27, it's a good time for employers to review any existing loans to employees or directors and make sure everything is being calculated and reported correctly.

Not sure if your loans are being handled correctly? We can help you review your position and make sure you're fully compliant. Get in touch.

26/08/2026

Did you know that if you become liable for a new tax, you're responsible for telling HMRC — even if they haven't contacted you? ⚠️

This is known as a "failure to notify" and it can result in significant financial penalties on top of any tax owed and interest. It's more common than you might think!

Here are some situations where you might need to notify HMRC:

💼 Your business has exceeded the VAT registration threshold
🏢 Your company has become liable for Corporation Tax
💰 You've become self-employed and started making a profit
📊 You've started receiving investment income above your allowances

How much could the penalty be? 👇

It depends on the circumstances. Penalties can range from a small percentage of the tax owed all the way up to 100% in the most serious cases. However, the key factors HMRC considers are:

✅ Whether the failure was deliberate or accidental
✅ Whether you came forward voluntarily before HMRC found out
✅ How cooperative you were during the process

The good news is that taxpayers who make an unprompted disclosure and fully cooperate with HMRC can often receive significantly lower penalties than those who wait to be discovered. HMRC will also not normally charge a penalty where there is a reasonable excuse, as long as you notify them promptly once that excuse ends.

The bottom line? 📝 If you think you may have failed to notify HMRC of a tax liability — even if it was an honest oversight — it's almost always better to come forward sooner rather than later.

This is exactly where we can help! We can advise you on your obligations, help you make a voluntary disclosure to HMRC and work with you to minimise any penalties. Get in touch today — the sooner you act, the better the outcome is likely to be.

25/08/2026

Fantastic news for disabled people across England! 🚌🎉

Prime Minister Andy Burnham has announced that time restrictions on disabled bus passes will be lifted from 1 April 2027, meaning eligible disabled people will be able to travel by bus for free at any time of day, every day.

Currently, disabled bus passes are only valid for free travel between 9:30am and 11pm on weekdays — making it difficult for people to get to early morning work, education or training, or travel later in the evening. From April 2027, those restrictions will be gone for good, backed by £60 million of government funding.

It’s estimated that around one million people could benefit from the change. 💚

As the CEO of Bus Users UK put it, disabled people “don't live off-peak lives” — and this change means their bus passes will finally reflect that. Disability charity Scope described the move as helping to “remove barriers to everyday life.”

The announcement follows the earlier confirmation of a £2 bus fare cap for all passengers from January 2027 — part of the government's wider push to improve access to affordable, reliable public transport.

At Bradshaw Johnson Chartered Accountants, we keep you up to date with the changes that matter — whether it’s financial news, tax updates or cost of living developments. Get in touch if there’s anything we can help you with.

24/08/2026

UK inflation has risen to 2.9% in July — the highest level in four months — and energy bills are firmly in the driving seat. 📈⚡

The Office for National Statistics (ONS) has confirmed that gas prices soared at their sharpest pace in almost four years, following Ofgem's 13% increase to the energy price cap on 1 July — adding £221 a year to the typical household bill. Energy costs surged after the US-Israel conflict with Iran effectively closed the Strait of Hormuz, a key trading route for oil, liquefied natural gas and other commodities.

And it may not stop there — energy bills are forecast to rise by a further 4% in October, which would take them to their highest level since July 2023. The ongoing European heatwave is adding to pressure too, with higher demand for air conditioning pushing up gas demand for power generation.

There is some brighter news though! ✨

🍎 Food inflation has fallen to just 1.3% — its lowest rate in close to five years
🏦 Experts say the July figure is unlikely to push the Bank of England into raising interest rates at its September meeting

With energy bills likely to remain a pressure point through the autumn, and the October Budget looming, it's a good time to take stock of your finances — both personal and business. At Bradshaw Johnson Chartered Accountants, we're here to help you plan ahead and navigate whatever the economy throws at you.

21/08/2026

GCSE results are in — and if your child is staying in education or training, there's something important you need to do before 31 August! 📚

If your child is continuing in education or training after the age of 16, your Child Benefit won't automatically continue — you need to tell HMRC. If you don't update your claim by 31 August, your payments will stop, and you could miss out on up to £1,406 a year! ⚠️

You can update your claim quickly and easily through the HMRC app or online.

What counts as qualifying education? 👇

✅ A levels, T levels, GCSEs and Scottish Highers
✅ NVQs and most vocational qualifications up to level 3
✅ International Baccalaureate
✅ Home education
✅ Study programmes and pre-apprenticeships

❌ What doesn't qualify?
✖️ University degrees
✖️ Paid apprenticeships
✖️ Higher National Certificates or Diplomas

💰 Child Benefit can continue until your child turns 20, as long as they remain in qualifying full-time education or approved unpaid training (more than 12 hours a week of supervised study).

If your child is leaving education or training rather than continuing, remember to tell HMRC that too — otherwise you could end up with an overpayment that needs to be paid back.

And don't forget — if you or your partner earns over £60,000, you may be subject to the High Income Child Benefit Charge. It's worth checking your position to make sure you're handling this correctly. If you're unsure, get in touch and we can help.

Bradshaw Johnson Chartered Accountants St Neots

04/09/2026

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