Hamish Accountancy Ltd

07/07/2026

If you’re a subcontractor and earn over £50k, your first Making Tax Digital deadline is 7 August 2026. That’s a few weeks away.

Here’s what’s actually changing: instead of one Self Assessment a year, you now submit a digital update every 3 months. Miss it, and you start racking up penalty points.

Most subcontractors I speak to either don’t know this applies to them, or think it’s “next year’s problem.” It isn’t — the clock started in April.

Quick check:
→ Sole trader (not Ltd company)?
→ Gross income over £50k?
→ Then MTD already applies to you, and your first update is due 7 August.

If you’re not sure where you stand, message me for a 5 minute review

20/06/2026

18/05/2026

🔨 Self-Employed Contractor or Subcontractor? Here’s What You Need To Know About MTD

Making Tax Digital (MTD) for Income Tax is being introduced in stages by HMRC.

📅 From April 2026
Self-employed individuals and landlords with income over £50,000 will need to join MTD.

📅 From April 2027
Those earning over £30,000 will also be included.

📅 From April 2028
Those earning over £20,000 are expected to join.

If you’re a builder, subcontractor or CIS worker earning above these thresholds, you may soon need to:

✔ Keep digital records
✔ Use MTD-compatible software
✔ Submit quarterly updates to HMRC

Many contractors are still using paper records or spreadsheets, so preparing early can save a lot of stress later.

At Hamish Accountancy Ltd, we help construction businesses get MTD-ready with simple bookkeeping systems and ongoing support.

📩 Message “MTD” for a free readiness check.

15/05/2026

Still unsure what tax expenses you can claim?

Many contractors and subcontractors miss legitimate business expenses every year — which could mean paying more tax than necessary.

Depending on your situation, you may be able to claim for things like:

✔️ Tools & equipment
✔️ Work vehicles & fuel
✔️ Protective clothing & PPE
✔️ Mobile phone & internet usage
✔️ Mileage & travel costs
✔️ Insurance & trade subscriptions
✔️ Use of home for admin work
✔️ CIS-related expenses

The problem is many small construction businesses either:
❌ Don’t keep proper records
❌ Mix personal and business spending
❌ Or simply don’t know what HMRC allows

Good bookkeeping isn’t just about compliance — it can help reduce stress and improve cash flow too.

At Hamish Accountancy Ltd, we help builders, contractors and tradesmen stay organised and tax efficient.

📩 Message “BUILD” for a free quick review.

14/05/2026

What’s your relationship with your accountant?

For many contractors and business owners, the only time they hear from their accountant is when:

• A brown envelope arrives from HMRC
• Tax season is around the corner
• VAT returns are due
• Payroll deadlines are missed
• Corporation tax needs paying
• Accounts filing deadlines are approaching
• CIS returns need submitting
• HMRC penalties or reminders arrive
• They need a tax refund
• Cash flow becomes a problem
• They are applying for a mortgage or finance
• The business is being investigated by HMRC
• They don’t understand their numbers
• They are unsure how much tax they owe
• They are stressed about compliance

But should your accountant only appear when there’s a problem?

What if your accountant became part of your business journey instead of just a year-end service?

Imagine having:

✔ Quarterly financial updates
✔ Regular compliance checks
✔ Clear visibility of your profits and cash flow
✔ Tax planning before deadlines arrive
✔ Ongoing advice to improve your business finances
✔ Peace of mind knowing HMRC obligations are under control
✔ More time to focus on growing your business

No constant panic.
No last-minute scrambling.
No fear every time a brown HMRC letter lands on your doorstep.

A good accountant should help you stay ahead — not just react when something goes wrong.

Your business deserves more than once-a-year communication.

So ask yourself:

What’s your relationship with your accountant?

13/05/2026

Contractors & Builders — Are Your CIS Records HMRC Ready?

Under the Construction Industry Scheme (CIS), HMRC requires contractors to keep proper records of:

✔️ Payments made to subcontractors
✔️ CIS deductions taken
✔️ Material costs (excluding VAT)
✔️ Monthly CIS return information

These records must normally be kept for at least 3 years after the end of the tax year in which they relate to.

⚠️ HMRC can request your CIS records at any time — and penalties can reach up to £3,000 if records cannot be provided.

Many contractors focus on the work onsite but fall behind with paperwork and bookkeeping.

At Hamish Accountancy Ltd, we help builders and subcontractors stay compliant, organised and stress-free.

📩 Message CIS for a free quick review.