WBV Chartered Accountants

17/06/2026

Reminder - HMRC mileage rates changed from April 2026.

For the first time in many years, the HMRC approved mileage rate for cars and vans has increased from 45p to 55p per mile for the first 10,000 business miles.

That may not sound like much, but for employees and business owners who regularly travel for work, the increase could make a noticeable difference over the course of a year.

What are the new rates?

✅ Cars & vans: 55p per mile (first 10,000 business miles)
✅ Cars & vans: 25p per mile (over 10,000 miles)
✅ Motorcycles: 24p per mile
✅ Bicycles: 20p per mile

What should businesses do now?

👉 Review mileage reimbursement policies
👉 Check payroll and expense systems are updated
👉 Ensure employees are claiming the correct rates
👉 Consider the impact on travel budgets and forecasting

With fuel, insurance and vehicle running costs continuing to rise, this update is a welcome change for many workers who use their own vehicles for business travel.

Have you reviewed your mileage rates yet?

Full HMRC guidance: https://www.gov.uk/government/publications/rates-and-allowances-travel-mileage-and-fuel-allowances/travel-mileage-and-fuel-rates-and-allowances

11/06/2026

Neath Port Talbot Local Growth Fund Grants Now Open

Businesses across Neath Port Talbot can now access a range of Local Growth Fund grants designed to support start-ups, business growth, innovation and productivity improvements. The programme aims to strengthen the local economy, create jobs, encourage investment and help businesses seize new opportunities.

🔗 https://businessinneathporttalbot.com/local-growth-fund/

Start-Up Grant (£500 - £10,000)
Designed for entrepreneurs and new businesses looking to turn an idea into a sustainable venture. Funding can support equipment, technology, marketing, training and other essential investments needed to establish and grow a new business.

Business Development Grant (£2,500 - £25,000)
Supporting established businesses with plans to expand, improve productivity, diversify services or invest in new equipment and technology. The grant aims to help businesses become more competitive and create sustainable growth.

Business Growth & Innovation Fund (£25,000 - £100,000)
For ambitious businesses with significant growth projects, this fund can support innovation, expansion, diversification, productivity improvements and investment in new products, services and markets.

Application Process

Funding will be delivered through a competitive two-stage open call process.
👉 Stage 1: Submit an Expression of Interest (EOI).
👉 Stage 2: Eligible applicants will be notified within 20 working days and invited to complete a full application form for further assessment.

📅 EOI Deadline: Friday 3 July 2026 at 5:00pm
Businesses considering investment projects are encouraged to review the guidance and submit their Expression of Interest before the deadline.

Find out more and apply: https://businessinneathporttalbot.com/local-growth-fund/

10/06/2026

Congratulations to Ellie Hughes and Giacomo Diulio on completing the Swansea Half Marathon on Sunday! 🏅🏃‍♀️🏃‍♂️

Taking on 13.1 miles along one of Wales' most scenic coastal routes is a fantastic achievement, and we're incredibly proud of both of them for crossing the finish line.

A huge well done to everyone involved in delivering another successful Swansea Half Marathon and to everyone who helped raise significant funds and awareness for a wide range of charities and good causes supported by runners across the event.

Congratulations again, Ellie and Giacomo – a brilliant accomplishment! 👏

09/06/2026

Swansea Local Growth Fund Grants Now Open

A new round of Local Growth Fund Grants has launched in Swansea, offering targeted support to help local businesses start, grow, innovate, and decarbonise. These funding streams are designed to strengthen the regional economy, create jobs, and support long-term sustainable growth.

More details and applications:
https://www.swansea.gov.uk/businessfunding?lang=en

Pre-Start Grant
Designed for new and early-stage businesses, this grant helps entrepreneurs take their first steps into self-employment. Funding can typically support essentials such as equipment, training, marketing, accreditation, and initial stock to help turn ideas into viable businesses. Watch the short informational video which explains eligibility and how to apply.
https://www.youtube.com/watch?v=lgLJjdNzlHQ

Growth Grant
Supporting established businesses looking to scale, this grant helps fund expansion projects such as new products or services, job creation, machinery, IT systems, and premises improvements. It is aimed at businesses with clear plans for sustainable growth and increased productivity. Watch the video guide covering the application process and criteria.
https://www.youtube.com/watch?v=9wP4H-osWPI

Carbon Reduction Grant
Focused on sustainability, this grant supports businesses in reducing their environmental impact and energy costs. Funding can assist with measures such as energy efficiency improvements, renewable energy installations, and process changes that move businesses closer to net zero. Watch the accompanying short video which explains the types of eligible carbon-saving projects.
https://www.youtube.com/watch?v=eyHL3c9SO_4

Innovation Grant
Helping businesses develop new ideas into market-ready solutions, this grant supports research, product development, prototyping, testing, and feasibility studies. It is designed to encourage innovation and strengthen competitiveness across local industries. Watch this explainer video is to guide you through what types of innovation projects can be supported.
https://www.youtube.com/watch?v=nGKIgTSa4Sg

These grants represent a strong opportunity for Swansea businesses at every stage of their journey – from start-up through to expansion and innovation.

If you’d like support understanding eligibility or preparing an application, now is the time to explore your options.

08/06/2026

Last week, Fran Faull and Terrance Jones had the pleasure of attending the Swansea Bay Business Club Summer Garden Party, an excellent opportunity to connect with businesses from across the region, strengthen relationships, and enjoy a fantastic afternoon of networking and entertainment in beautiful surroundings.

A huge thank you to the organisers for hosting such a well-attended and enjoyable event. The setting at the stunning Margam Orangery provided the perfect backdrop for great conversations, new connections, and celebrating the strength of our local business community. 🌿☀️

We’re already looking forward to the next event!

26/05/2026

Important HMRC update for businesses and professionals dealing with tax matters

HMRC is introducing a new digital registration system for tax advisers from 18 May 2026.

This will apply more widely than many expect, not just to traditional tax firms.

If you are paid to interact with HMRC on behalf of clients, you may now fall within scope of the new “tax adviser” registration rules. This can include submitting returns, making claims, or corresponding with HMRC on a client’s behalf.

Why this matters:

After a short transition period, unregistered advisers may be unable to deal with HMRC for clients.

What you should do now:

Businesses should review whether any services involve HMRC interaction and confirm whether registration will be required under the new regime.

If you’re unsure whether this affects you, please get in touch.

13/05/2026

Restoring nature and strengthening farm businesses can go hand in hand 🌱

Through the Glaswelltiroedd Gwydn (Resilient Grasslands) project, led by Plantlife, Peter and Cathryn at Wern Ddu Uchaf are showing what nature-friendly farming can achieve.

Their hay and rhos meadows are now recognised as SSSI (Sites of Special Scientific Interest), a true testament to the biodiversity and ecological value of their land.

We’re proud to support Peter and Cathryn as WBV clients and to see how sustainable land management can boost both environmental restoration and resilient farm businesses for future generations.

Congratulations to Peter and Cathryn and thank you to Plantlife and all partners helping to protect Wales’ semi-natural grasslands.

https://www.youtube.com/watch?v=NEteJprcMz8

Through the Glaswelltiroedd Gwydn (Resilient Grasslands) project, we are on a mission to restore or enhance areas of semi-natural grasslands in Wales. Meet P...

11/05/2026

HMRC Webinar: Car Expenses for the Self‑Employed

If you use your own car for business, this webinar is for you.

HMRC will explain:

• What counts as a business journey
• How capital allowances apply
• Simplified vs actual cost methods
• Leasing a car and personal contract purchases

Ask your questions live using the on‑screen text box.

📅 Sign up today to get clear guidance on claiming car expenses.
https://register.gotowebinar.com/rt/5993359169947989598?source=Campaign-Apr-SE-1

08/05/2026

Business Asset Disposal Relief (BADR) – Further Rate Increased from April 2026

Exiting a business is becoming increasingly expensive. Following the rise to 14% in 2025, the Capital Gains Tax rate for qualifying BADR disposals increased again to 18% from 6 April 2026.

The £1 million lifetime limit remains unchanged, but the impact of the rate changes is significant.

For example, on a £1 million qualifying gain:
• At 10% (pre‑2025), the tax was £100,000
• At 18% (from April 2026), the tax will be £180,000

That’s an £80,000 increase on the same gain.

For business owners considering succession, retirement, or a future sale, timing and planning are now more important than ever. WBV can help you review your exit strategy and understand how these changes may affect your long‑term plans.

04/05/2026

HMRC Webinar: Business Expenses for the Self‑Employed

Not sure what you can claim as a business expense?

Join HMRC’s live webinar where we’ll cover:

• What counts as an allowable business expense
• The most common expenses you can claim
• How simplified expenses work
• Record‑keeping essentials
• How to enter accurate figures on your tax return

Ask questions during the session using the on‑screen text box.

Date: Friday 8th May 2026
Time: 11.45am - 12.45pm

📅 Register now to make business expenses easier to understand.

https://register.gotowebinar.com/rt/5338281129603691354?source=Campaign-Apr-SE-1