Smith & Johnson | Accountants

Chartered accountants for UK business owners past £1m. Tax planned before year end, not explained after it. Tax and money notes twice a day.

[Smith & Johnson | Accountants @smithjohnsonuk]

A skilled accountant may save you more money than they cost. It's difficult in the early stages, but it becomes beneficial to have one as your company grows.

[Smith & Johnson | Accountants @smithjohnsonuk]

Sole trader or landlord with qualifying income over £30,000 in 2025-26? You must use Making Tax Digital for Income Tax from 6 April 2027.

Those joining then get no penalty points for late submission of their first four quarterly updates.

[Smith & Johnson | Accountants @smithjohnsonuk]

Savings interest held outside an ISA is proposed to be taxed at 24%, 44% and 49% from 6 April 2027, up from 20%, 40% and 45% today.

Interest inside an ISA stays tax free, which makes this year's allowance worth using.

[Smith & Johnson | Accountants @smithjohnsonuk]

Landlords holding property in their own name: tax on rental profit is proposed to rise from 20%, 40% and 45% to 24%, 44% and 49% from 6 April 2027.

Company rates do not move. A company only comes out ahead while the profit stays inside it.

[Smith & Johnson | Accountants @smithjohnsonuk]

Selling your company in the next few years?

Business Asset Disposal Relief is proposed to fall from £1m to £500,000 for sales from 6 April 2027. The 18% rate stays, so on a gain of £1m or more that is up to £30,000 more tax.

The date of the sale now matters.

[Smith & Johnson | Accountants @smithjohnsonuk]

Trading income under £1,000 a year does not need declaring to HMRC today.

From 6 April 2027 that trading allowance is proposed to rise to £3,000. It is measured on income, not profit. For the 2026-27 tax year it is still £1,000.

[Smith & Johnson | Accountants @smithjohnsonuk]

Still claiming 45p a mile? That rate is out of date.

HMRC's approved rate for the first 10,000 business miles is 55p, applied from 6 April 2026. Above 10,000 miles, the rate is proposed to rise from 25p to 35p from 6 April 2027.

[Smith & Johnson | Accountants @smithjohnsonuk]

REAL-WORLD EXAMPLE:

100,000 Amex points can book a round-trip business class ticket from London to New York via British Airways Avios. Save thousands! #TravelGoals

[Smith & Johnson | Accountants @smithjohnsonuk]

🏨✈️ Unlock FREE luxury travel with your Amex points! High-income earners can turn everyday spending into extraordinary experiences. Here’s how: #TravelHacks #AmexPoints

[Smith & Johnson | Accountants @smithjohnsonuk]

BE FLEXIBLE:

Flexibility with travel dates and destinations helps find the best value for your points. Avoid peak times for the best deals. #TravelHacks

[Kayla 🐉🔥 @1kaylaaaa_]

Never settle for the bare minimum

[Smith & Johnson | Accountants @smithjohnsonuk]

When self-assessment season is coming up:

[Smith & Johnson | Accountants @smithjohnsonuk]

“The message is for the masses but advice is for the individual.”
- A good accountant can contextualise that ‘debit credit’ into one’s specific circumstance.

[Smith & Johnson | Accountants @smithjohnsonuk]

Hiring an accountant ensures that your legal obligations are met. As administrative duties amount you may not have the time to set aside for your own accounting.