by AJN Accountants | Jun 22, 2026 | Tax Planning
An outstanding loan to a director or shareholder from a close company can trigger a tax charge under Section 455 of the Corporation Tax Act 2010. The director’s loan account is generally used to account for temporary withdrawals from the business for the...
by AJN Accountants | Jun 17, 2026 | VAT
The Government has announced a temporary VAT reduction this summer aimed at helping families with the cost of school holiday activities. Under the new ‘Great British Summer Savings’ scheme, the standard VAT rate of 20% will be reduced to 5% on selected...
by AJN Accountants | Jun 5, 2026 | Business
From the tax year 2025-26 directors of close companies are required to provide additional information in their tax returns, even where no income has been received. HMRC has updated the self assessment tax return for the tax year just ended (2025-26). The form includes...
by AJN Accountants | May 11, 2026 | Tax Planning
From April 2029, income tax self assessment taxpayers who also have PAYE income will pay some of their self assessment liability via PAYE. Currently, if you owe additional tax due to a previous underpayment HMRC can collect that amount gradually by adjusting your tax...
by AJN Accountants | May 1, 2026 | Tax Planning
The new points-based penalties system will apply to all self assessment taxpayers from April 2027, not just those within Making Tax Digital for income tax (MTD IT). The new rules will apply first to taxpayers mandated to join MTD IT from April 2026 (those with...
