Tax Briefings & News

Sep 12 2026

Check Deadlines With New HMRC Tool

By admin Construction Industry Scheme (CIS), HMRC, PAYE, Potts & Co Accountancy & Business Advice News, VAT

Keeping track of deadlines can be challenging, particularly for businesses with several different tax obligations. HMRC has introduced a new online tool to help taxpayers check when important returns and payments are due. It can be used to check deadlines for a range of taxes including PAYE; VAT; construction industry…

Sep 11 2026

Changes To The VAT Capital Goods Scheme

By admin Capital Allowance, Capital Expenditure, Capital Gains Tax, Capital Losses, HMRC, Potts & Co Accountancy & Business Advice News, VAT Capital Goods Scheme (CGS)

If you acquire, create or construct capital items for use in a business and you incur VAT on those items, you may need to use the VAT Capital Goods Scheme (CGS) on your VAT returns. The CGS is a mechanism that adjusts the amount of VAT a business can recover…

Sep 11 2026

Fill In National Insurance Gaps

By admin HMRC, National Insurance, Potts & Co Accountancy & Business Advice News, Self-Employment

HMRC has identified an issue that may affect some taxpayers who became self-employed between 2015 and early 2024 and have missing qualifying national insurance years. The issue mainly affects individuals who registered as self-employed between 2015 and 2024 but were not correctly linked to HMRC's national insurance system. This may…

Sep 10 2026

Electric Vehicle Excise Duty

By admin Electric Cars, Electric Vehicle Excise Duty (eVED), HMRC, Potts & Co Accountancy & Business Advice News

A new mileage-based charge for electric vehicles (EVs) and plug-in hybrids known as electric vehicle excise duty (eVED) is due to come into effect from 1 April 2028. The charge is intended to ensure that drivers of electric and plug-in hybrid vehicles contribute towards motoring taxation as the use of…

Sep 09 2026

Third-Party Information Targets Landlords

By admin HMRC, Landlords, Potts & Co Accountancy & Business Advice News, Property

If you receive income from renting out property you may receive a letter from HMRC asking you to check the figures on your tax returns HMRC receives information about landlords from third parties and other sources, including tenancy deposit schemes. It is writing to landlords where this data does not…

Sep 08 2026

Tax Overcharged On P800 Calculations

By admin HMRC, P800, Potts & Co Accountancy & Business Advice News, Tax Refunds

Many taxpayers have overpaid income tax under the P800 system due to a flaw in HMRC's calculation method. As part of its annual PAYE reconciliation process at the end of each tax year, HMRC compares the amount of tax deducted from wages and pensions with the amount that was actually…

Sep 07 2026

First Quarterly Update Deadline For MTD

By admin HMRC, Making Tax Digital (MTD), Making Tax Digital For Income Tax Self-Assessment (MTD ITSA), Penalties, Potts & Co Accountancy & Business Advice News

The deadline for filing the first quarterly update (QU) under MTD for income tax has now passed, but QUs still need to be filed. Self-employed individuals and landlords with combined annual income, before deducting expenses, of £50,000 or more should have submitted their first QU using HMRC-approved software by 7…

Sep 06 2026

Automatic MTD Registration

By admin HMRC, Making Tax Digital (MTD), Making Tax Digital For Income Tax Self-Assessment (MTD ITSA), Potts & Co Accountancy & Business Advice News

Taxpayers who were required to join Making Tax Digital for income tax (MTD) from April 2026 but have not done so will be signed up automatically. Starting from September 2026, HMRC will use information it holds to identify and register taxpayers it believes to be in scope for MTD for…

Jun 14 2026

Small Employers’ Relief Increased

By admin HMRC, National Insurance, Potts & Co Accountancy & Business Advice News

From April 2026 small businesses will benefit from a further increase in small employers' relief. From 6 April 2026 HMRC will reimburse eligible employers 109% of statutory payments made to employees. The relief is designed to support smaller employers with the cost of payments such as: statutory maternity pay; paternity…

Jun 13 2026

Approved Mileage Allowance

By admin Company Cars, HMRC, Potts & Co Accountancy & Business Advice News

Employees and business owners could be entitled to an additional £1,000 per year in tax relief for business journeys undertaken in personal vehicles. If you use your own vehicle for business travel you may be entitled to tax relief to help with the cost of owning and running your vehicle.…