Self Assessment Penalties 2025/26 | Trueman Brown Accountants
Understanding Self Assessment Penalties – What You Need to Know If you file late, you could face serious self assessment penalties. For the tax year ended 5 April 2025 (the 2025/26 filing season), the deadlines remain: online returns must be submitted by 11:59 pm on...
Reducing your inheritance tax bill by charitable means
Local Accountants and tax advisers, Trueman Brown, warn taxpayers that they can reduce their inheritance tax liabilities by making a charitable gift. Making gifts to charity can be an effective way to reduce the amount of inheritance tax (IHT) payable on your estate....
Accounting Records: Complete Guide for UK Businesses
Why your accounting records matter When you run a business, keeping accurate and complete accounting records is absolutely vital. Whether you’re a sole trader, partnership or limited company, these records provide the foundation for everything from assessing profit...
Employers warned about income tax and NI payable on tips
Havering Accountants, Trueman Brown, keep their client's up-to-date with the latest developments in tax. The question of whether tips and gratuities are taxable and subject to National Insurance Contributions (NICs) often results in a lively debate. Broadly, their...
How you can have tax-free income of £18,500 from savings
Romford Accountants, Trueman Brown, like to keep their client's up-to-date with the latest developments in tax and accountancy. Where income is mainly derived from savings, it is possible to enjoy tax-free savings income of up to £18,500 tax-free in 2019/20 in...
Making Tax Digital Software Guide 2025/26 | Trueman Brown
Making Tax Digital Software – What You Need to Know for 2025/26 The UK government’s push for digital tax compliance means that using making tax digital software is now more important than ever. If you’re a VAT-registered business, self-employed individual, landlord or...
Reducing Self Assessment Payments on Account for 2025/26
Reducing Self Assessment Payments on Account: What You Should Know If you think your tax bill for the coming year will be lower than last year’s, reducing self assessment payments on account could help you ease cash-flow pressures. Many taxpayers do not realise that...
Capital Allowances Small Pool Write Off 2025/26 Guide
Capital Allowances Small Pool Write Off – Updated for 2025/26 Businesses that don’t use the cash basis can claim capital allowances for qualifying purchases such as machinery, equipment, or tools. The capital allowances small pool write off allows a business to deduct...
Tax-free Taxis Explained | Trueman Brown Accountants Essex
Tax-free Taxis: How Employers Can Offer Staff a Ride Without the Tax Bill Local accountants and tax advisers, Trueman Brown, explain how employers can take advantage of HMRC’s rules on Tax-free Taxis for their employees. While taxi journeys between home and work are...
Stamp Duty Land Tax on non-residential properties
Local accountants and tax advisers, Trueman Brown, advise commercial property owners to look at the provision of stamp duty land tax on non-residential properties. Stamp duty land tax (SDLT) is payable in England and Northern Ireland on the purchase of property over a...