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Raymond's Accountants & Tax Consultants

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Raymond's Accountants & Tax Consultants

Our company motto is “you grow we grow”, we will do all that we can to assist you so that your b

28/10/2026

Budget 2026: Cash ISA Savings Limit Maintained at £20,000

Chancellor John Healey has decided to reverse the previous plan set by Rachel Reeves, maintaining the cash ISA limit at £20,000 per year for tax-free savings.

This decision comes after considering the unpopularity of the proposal to reduce the tax-free allowance to £12,000 and introduce a new, more complex savings scheme aimed at first-time savers. Healey’s move ensures that the existing, straightforward system remains intact, avoiding additional tax complications.

He said, "I will not go ahead with the tax free amount people can put in a cash ISA, the limit will stay for people of all ages and will work with sector to create a new starter ISA for first-tine savers.’

Starting in April 2027, the limit for cash ISAs was set to be lowered, with an emphasis on shifting funds towards stocks and shares ISAs. This change would impose restrictions on cash savings, while maintaining a total ISA savings cap of £20,000.

27/10/2026

HMRC Urges Taxpayers to Report All Eligible Income for MTD Compliance

Accountants are encountering initial challenges with the Making Tax Digital (MTD) system for Income Tax filings.

Some early submissions were sent without including all necessary income details. Though agents received confirmation from HMRC that submissions were successful, they were actually incomplete. Taxpayers with income from both self-employment and property must submit two distinct quarterly updates, rather than combining these income streams into a single submission.

26/10/2026

Stricter Oversight of Umbrella Companies to Proceed

The government has announced plans to implement stricter regulations on umbrella companies to prevent recruitment agencies from coercing temporary staff into signing unfair payment contracts or denying them work opportunities.

While the specifics of these new rules have yet to be finalized, initial proposals indicated a strong stance against agencies that compel workers to join an umbrella company as part of accepting a job assignment. The government aims to ensure strong protections for all workers, including those employed through umbrella companies, while maintaining a flexible and adaptable temporary labor market.

In May, the former business minister Peter Kyle stated "Too many workers, both freelancers and agency staff, are left worse off due to hidden costs, opaque deductions, and a lack of clarity about their rights through the use of umbrella companies" at the original department for business consultation on modernizing the agency work rules.

25/10/2026

Raymond's Accountants is committed to simplifying your financial management. Our seasoned professionals take care of everything from tax returns to preparing financial accounts, keeping your business compliant and thriving.

By choosing us, you're not simply hiring an accountant; you're gaining a partner focused on helping you comprehend and enhance your financial situation. Reach out to us today via phone or email, and we'll tailor our services to meet your specific financial requirements.

This is one of the feedback's we have received from our existing customers.

24/10/2026

At Raymond's Tax Accountants, we are here to help give you the support you need to manage your financial affairs and keep you thriving and successful. Our team of professionals offer a wide range of services, including tax preparation, bookkeeping, and payroll, all designed to meet your requirements.

Whether you are an individual, a small business, or a large corporation, our experienced professionals are here to be your reliable partners in achieving financial success. Contact us today to discover how our expert guidance and committed service can help you reach your financial goals.

23/10/2026

Small Business P&L Reporting Canceled

The government has decided to halt its proposed requirement for the smallest businesses to submit profit and loss accounts and balance sheets to Companies House.

This decision to put the new reporting rules on hold was made just before the Budget announcement. Prime Minister Andy Burnham discussed the issue with small business leaders at the new No10 North.

The original implementation date of April 2028 has been scrapped, marking the second delay of this measure. As a result, small businesses will not need to comply with the previously planned mandate to file P&L accounts and balance sheet information starting from 1 April 2028.

22/10/2026

Corporation Tax Revenue Increases by 13%

In September, the monthly tax revenue collected by HMRC reached a record high of £75.7 billion, marking a 6.4% increase compared to the previous year.

This rise is partly due to higher corporation tax and national insurance contributions, with frozen tax thresholds impacting individuals. Since the Labour government took office, the overall tax revenue has grown significantly from £61.8 billion in September 2023 to £75.8 billion in September 2026.

A major factor in this increase is the boost in corporation tax receipts, which rose from £13.8 billion in September 2023 to £17.9 billion in September 2026. On a 12-month rolling basis, corporation tax revenue climbed from £89.4 billion in the year ending September 2024 to £101.4 billion in the year ending September 2026, representing a growth of £12 billion or 13%.

The assistant manager at Blick Rothenberg, Tom Goddard, "Corporation tax receipts were particularly strong in September, the second highest monthly figure on record. The result was supported by quarterly payment deadlines and demonstrates the resilience of many UK businesses.’

21/10/2026

1.4 Million Directors Lacking ID Verification at Companies House

With the final deadline for ID verification at Companies House approaching in less than a month, a quarter of company directors still haven’t completed the process.

Verification is mandatory for all directors listed on the Companies House register, with the transition period ending on November 17.

So far, 807,000 individuals have missed their ID verification deadline. As of mid-October, analysis by Vaulex, a UK-authorized corporate service provider, reveals that 4,144,344 directors and beneficial owners have completed their verification statements, leaving 25% of directors still unverified.

20/10/2026

‘We haven’t seen the evidence’ about need for HMRC reckless offence

Plans to criminalize "reckless untrue statements" in direct tax cases have faced significant criticism from tax advisers and lawyers.

Experts have expressed concerns about the ambiguity of these plans, arguing that HMRC has not clearly defined the behavior it intends to criminalize. During a session with the House of Lords Finance Bill Sub-Committee, several legal experts, including representatives from the Law Society of England and Wales, the Law Society of Scotland, and Reynolds Porter Chamberlain LLP, criticized the proposal.

They warned that the lack of clarity could lead to the criminalization of conduct that is not well-defined. Since its initial mention in the 2025 Budget, the move has been met with widespread apprehension from the legal community.

19/10/2026

UK Economy Sees Unexpected Growth in August

In August, the UK economy unexpectedly grew, despite a drop in consumer spending ahead of John Healey's first budget as chancellor.

The Office for National Statistics reported that the GDP increased by 0.1% for the month, following a 0.4% rise in July. This growth defied City economists’ predictions of a 0.1% decline. With Healey's budget announcement approaching in less than two weeks, these figures offer an unexpected boost amidst the global economic turmoil caused by the Middle East conflict and rising energy costs impacting British households and businesses.

Although consumer-facing services declined by 0.3% due to increased petrol, diesel, and energy prices, the overall services sector showed no growth. The surprising GDP uptick was mainly due to a strong performance in manufacturing, which saw a 0.8% growth in the broader production sector encompassing manufacturing, mining, and energy generation, while construction output decreased by 0.2%.

Address

Social Economy House
West Bromwich
B708ET

Opening Hours

Monday	9am - 5:30pm
Tuesday	9am - 5:30pm
Wednesday	9am - 5:30pm
Thursday	9am - 5:30pm
Friday	9am - 5:30pm

Website

http://raytax.co.uk/

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