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Potts & Co Potts & Co offer Accountancy & Business Advice to companies & individuals

Check Deadlines With New HMRC ToolKeeping track of deadlines can be challenging, particularly for businesses with severa...
12/09/2026

Check Deadlines With New HMRC Tool

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 scheme (CIS) and self-assessment. A useful feature allows key dates to be added directly to calendar apps, where you can set up reminders to pay your tax by the deadline....

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; co...

Fill In National Insurance GapsHMRC has identified an issue that may affect some taxpayers who became self-employed betw...
11/09/2026

Fill In National Insurance Gaps

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 have happened for a number of reasons. For example, an individual who already had a unique taxpayer reference (UTR) when they started self-employment may not have completed the required CWF1 form to register for self-employed national insurance....

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 ...

Changes To The VAT Capital Goods SchemeIf you acquire, create or construct capital items for use in a business and you i...
11/09/2026

Changes To The VAT Capital Goods Scheme

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 on certain high-value capital assets over a number of years to reflect changes in how the asset is used over time....

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...

Electric Vehicle Excise DutyA new mileage-based charge for electric vehicles (EVs) and plug-in hybrids known as electric...
10/09/2026

Electric Vehicle Excise Duty

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 petrol and diesel vehicles declines. HMRC has provided further details on how the new system will operate, following a consultation....

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....

Third-Party Information Targets LandlordsIf you receive income from renting out property you may receive a letter from H...
09/09/2026

Third-Party Information Targets Landlords

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 tally with information filed by the taxpayer. The letter encourages taxpayers to disclose any income from let 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 no...

Tax Overcharged On P800 CalculationsMany taxpayers have overpaid income tax under the P800 system due to a flaw in HMRC'...
08/09/2026

Tax Overcharged On P800 Calculations

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 due. Any under- or overpayment of tax is notified to the taxpayer using a tax calculation letter known as form P800....

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...

First Quarterly Update Deadline For MTDThe deadline for filing the first quarterly update (QU) under MTD for income tax ...
07/09/2026

First Quarterly Update Deadline For MTD

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 August 2026. According to HMRC, more than 436,000 taxpayers had successfully filed their first QU by 12 August....

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-approve...

Approved Mileage AllowanceEmployees and business owners could be entitled to an additional £1,000 per year in tax relief...
13/06/2026

Approved Mileage Allowance

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. The mileage allowance is the maximum tax-free amount you can be repaid by your employer, or by your business if you are self-employed....

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....

Public EV Charging Standard-RatedHMRC has reconfirmed that supplies of electricity for charging electric vehicles(EVs) a...
12/06/2026

Public EV Charging Standard-Rated

HMRC has reconfirmed that supplies of electricity for charging electric vehicles(EVs) at public EV charging points is standard-rated for VAT purposes. Electricity supplied at public EV charging points is subject to VAT at the standard rate of 20%, rather than the reduced 5% domestic rate that often applies to home charging. The clarification continues to create complications for businesses and employees reclaiming VAT on electric vehicle costs, particularly where vehicles are charged away from home....

HMRC has reconfirmed that supplies of electricity for charging electric vehicles(EVs) at public EV charging points is standard-rated for VAT purposes. Electricity supplied at public EV charging points is subject to VAT at the standard rate of 20%, rather than the reduced 5% domestic rate that often....

Making Tax Digital: Ceasing To TradeIndividuals and landlords with gross income from self-employment and/or property abo...
11/06/2026

Making Tax Digital: Ceasing To Trade

Individuals and landlords with gross income from self-employment and/or property above £50,000 on the 2024-25 tax return are mandated to join Making Tax Digital (MTD) from April 2026. But what happens if that income has ceased by then? If you completely stopped trading before 6 April 2026, and you have no other qualifying income, you must notify HMRC that although you fall within the MTD for income tax rules from April 2026, your qualifying income ceased before that date....

Individuals and landlords with gross income from self-employment and/or property above £50,000 on the 2024-25 tax return are mandated to join Making Tax Digital (MTD) from April 2026. But what happens if that income has ceased by then? If you completely stopped trading before 6 April 2026, and you ...

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