Simas Accounts

Accountants, Tax Advisors and Business Advisors

[Simas Accounts @SimasAccs]

New employee starting, get the tax code right
Setting up the correct tax code when a new employee starts is essential, as even small payroll errors can lead to unnecessary tax overpayments and avoidable complica... #PayrollBasics #PAYE #EmployerDuties https://t.co/nfjY4JyOwb

[Simas Accounts @SimasAccs]

Selling a business, do not miss out on BADR
Business Asset Disposal Relief (BADR) can significantly reduce the Capital Gains Tax due when selling a business or shares, but with higher rates coming from Ap... #CapitalGainsTax #BusinessExit #TaxPlanning https://t.co/GDHQYSfWIm

[Simas Accounts @SimasAccs]

Self-employed, are you claiming the right travel costs?
If you are self-employed, it is important to understand which car and travel costs can be claimed. #SelfEmployed #BusinessExpenses #TaxRelief https://t.co/vjRbqnx9zW

[Simas Accounts @SimasAccs]

LLP members, could you be treated as salaried for tax?
The salaried member legislation applies to certain members of a Limited Liability Partnership (LLP) whose terms of membership are more like an employee... #LLPTax #SalariedMemberRules #TaxPlanning https://t.co/6XPqmZOuyG

[Simas Accounts @SimasAccs]

Selling a company car, get the VAT right
The question of whether or not you are required to charge VAT when selling a company car depends on how the vehicle was bought and whether VAT was recovered at the time.... #VATmatters #CompanyCars #TaxPlanning https://t.co/36T7hjzNZi

[Simas Accounts @SimasAccs]

UK property income, when it counts as a business
The income generated from land or property in the UK is treated as arising from a UK property business. The underlying legislation defines this broadly to include all a... #PropertyTax #Landlords #UKTax https://t.co/TDdaOM6wzW

[Simas Accounts @SimasAccs]

New 40% First Year Allowance explained
The new 40% First Year Allowance came into force from 1 January 2026. This marks an important development for businesses investing in plant and machinery. The n... #CapitalAllowances #BusinessInvestment #TaxPlans https://t.co/XSxPMNQjMM

[Simas Accounts @SimasAccs]

Welsh Final Budget 2026–27 highlights
The Welsh Final Budget for 2026-27 was published on 20 January 2026. The Budget sets out the Welsh government’s revenue and capital spending plans, including detailed port... #WelshBudget #IncomeTax #DevolvedTaxes https://t.co/Og7LrFwV5N

[Simas Accounts @SimasAccs]

MTD for Income Tax starts April 2026
If you have not yet checked if and when you need to use Making Tax Digital (MTD) for Income Tax, you should do so as a matter of urgency. This is because from April 202... #MakingTaxDigital #SelfEmployed #Landlords https://t.co/O1AFogUgmW

[Simas Accounts @SimasAccs]

Check your National Insurance record
It is recommended to check your National Insurance record as this can affect your future entitlement to the State Pension and other benefits. #StatePension #NationalInsurance #FinancialPlan https://t.co/aYI1dPmbwc

[Simas Accounts @SimasAccs]

Scottish Budget 2026–27 key points
Scotland’s Finance Secretary, Shona Robison delivered her third Budget statement to the Scottish parliament on 13 January 2026. This is the final Budget before the Holyroo... #ScottishBudget #IncomeTax #DevolvedTaxes https://t.co/S3xk5aGPeI

[Simas Accounts @SimasAccs]

PAYE changes for umbrella companies
From 6 April 2026, significant changes to PAYE rules will affect umbrella companies, recruitment agencies, and end clients, increasing shared responsibility for payroll com... #UmbrellaCompanies #PAYE #EmploymentTax https://t.co/B4fzIfyv5d

[Simas Accounts @SimasAccs]

CIS fraud rules tighten from April 2026
Tackling fraud in the Construction Industry Scheme (CIS) was one of the measures addressed in the recent Budget. The changes are intended to allow faster interv... #ConstructionIndustryScheme #CIS #TaxCompliance https://t.co/MJmMOU0bTc

[Simas Accounts @SimasAccs]

Payroll year end deadlines
There are a number of annual payroll reporting issues that employers are required to complete. With the tax year ending on 5 April 2026, this means there are several key payroll reporting chores... #PAYE #Payroll #UKBusiness https://t.co/06spqNwZkD

[Simas Accounts @SimasAccs]

Marriage Allowance worth claiming
If one partner earns under £12,570, you could transfer part of their unused personal allowance and cut your tax bill by up to £252 a year. #MarriageAllowance #IncomeTax #UKTax https://t.co/VDGfNVbdof

[Simas Accounts @SimasAccs]

Selling a second property?
CGT on certain UK residential property sales often has a strict 60-day reporting and payment deadline, so early planning can avoid penalties. #CGT #UKProperty #TaxDeadlines https://t.co/xmWAKt78Vq

[Simas Accounts @SimasAccs]

Spring Statement 2026
The Chancellor, Rachel Reeves has confirmed that she will deliver the Spring Statement to the House of Commons on Tuesday, 3 March 2026. #SpringStatement #Budget #HMRC https://t.co/olB6TjZkGr

[Simas Accounts @SimasAccs]

Struggling to pay tax?
With the balancing payment and first payment on account both due on 31 January 2026, it is worth checking your options early if funds are tight. #TaxPlanning #HMRC #CashFlow https://t.co/fBp9HzEaN0

[Simas Accounts @SimasAccs]

Corporation Tax rates explained
If your company profits sit between £50,000 and £250,000, marginal relief can soften the jump from 19% to 25% Corporation Tax. #CorporationTax #UKTax #SmallBusinessUK https://t.co/9jEjq16okI

[Simas Accounts @SimasAccs]

Transition profits, spreading rules
If your business has transitional profits from basis period reform, spreading over five years may reduce the cash flow impact, but it is important to understand the deadlines. #TaxPlanning #HMRC #BusinessTax https://t.co/9Zln4y8pul