Ashton Knight Ltd - UK Accountants

31/10/2026

Autumn Budget 2026: the case for landlords to review how they hold property 🏠

Rental income tax rates rise by 4 points from 6 April 2027, to 24%, 44% and 49%. That's double the 2-point rise announced last year. Mortgage interest relief stays at a basic-rate credit, now 24%, so higher-rate landlords still pay tax on money spent on interest.

What it looks like in practice
A higher-rate landlord with £50,000 rent, £5,000 costs and £20,000 mortgage interest has a true profit of £25,000.

🔹Held personally, 2026/27: keeps £11,000 (56% effective tax rate)
🔹Held personally, from April 2027: keeps £10,000 (60%)
🔹Held in a company at the 19% small profits rate: keeps £20,250 (19%)

The catch
Profits taken out of a company as dividends are taxed again. Incorporation works best where profits stay in the company to pay down debt or grow the portfolio, or where withdrawals can be planned across family members and tax years.

Also worth knowing
🔹Moving property into a company is usually a disposal for CGT and SDLT purposes. Incorporation relief and SDLT partnership relief can remove much of that cost, but only if strict conditions are met, including a genuine property business
🔹Lender consent, fixed-rate periods and ATED can all affect the decision
🔹Property income now uses up your personal allowance and tax bands after salary, so it can push you into higher rates
🔹Making Tax Digital applies to combined self-employment and property income over £30,000 from April 2027
🔹The reliefs that make incorporation workable could be restricted in future, so the window to review is now

Incorporation isn't right for everyone. It needs to be modelled property by property.

📩 Contact Ashton Knight Accountants for a personal comparison of holding personally versus through a company.



Illustrative example only. This is not personal advice.

30/10/2026

Autumn Budget 2026: key changes for business owners 🏢

Plenty of detail for businesses, with several dates to diarise.

Capital allowances
🔹First-year allowance rises from 40% to 50% from 1 January 2027
🔹Main-rate writing-down allowance falls from 14% to 12% from April 2027
🔹100% allowances for zero-emission cars and chargepoints end in spring 2027

Owners and founders
🔹BADR lifetime limit halves to £500,000 from 6 April 2027
🔹New Founders' relief: 10% CGT on qualifying gains up to £10m
🔹Share scheme boosts: CSOP limit doubles to £120,000
🔹Reform of company distributions is expected from April 2028, so timing of exits and extractions matters

Costs and compliance
🔹Business rates relief threshold for retail, hospitality and leisure rises to £18,000
🔹Trading allowance rises to £3,000
🔹National Living Wage goes to £13.21 in April 2027
🔹Payrolling of company cars, vans, fuel and medical benefits becomes mandatory from April 2027
🔹Corporation tax rates unchanged at 25% and 19%

Several of these reward acting before April. Now is the time to plan asset purchases, exits and remuneration.

📩 Contact Ashton Knight Accountants for a review.

29/10/2026

Autumn Budget 2026: what it means for you 💷

The Chancellor promised "breathing space", but for many individuals the freeze on allowances and thresholds continues until 2031. That means pay rises can push more income into higher rates.

What to know:

🔹Tax rates on savings income rise by 4 points from April 2027 (to 24%, 44% and 49%)
🔹The planned cash ISA cap is scrapped, so the limit stays at £20,000. ISAs are more valuable than ever
🔹A new Pensions Tax Allowance means those living on the State Pension alone won't face a tax bill
🔹Unused pension funds fall into your estate for IHT on deaths from 6 April 2027. Wills and retirement plans need a review
🔹The £100–£125,140 income band still carries an effective 60% marginal rate
🔹£100 energy support payment for Council Tax bands A to D in January 2027
🔹Mileage allowance rises to 35p above 10,000 miles from April 2027

If your income is in the £100k+ range or you hold sizeable pension pots, planning now can make a real difference.

📩 Message Ashton Knight Accountants to talk it through.

26/07/2026

🚨 Self Assessment Tax Reminder – 31 July 2026 Deadline 🚨

If you normally make Payments on Account towards your Self Assessment tax, your second payment may be due to HMRC by 31 July 2026.

⚠️ Please note that not everyone is required to make a payment, so it’s important to check your Self Assessment calculation or HMRC online account to confirm whether an amount is due.

Paying on time can help you avoid unnecessary interest and penalties.

You can pay your Self Assessment tax bill online here:
👉 https://www.gov.uk/pay-self-assessment-tax-bill

📝 Still need to complete your 2025/26 Self Assessment Tax Return?

If you haven’t yet prepared your 2025/26 Self Assessment Tax Return, now is the perfect time to get organised. Our experienced team at Ashton Knight can prepare and submit your return accurately, ensuring you claim all available tax reliefs and meet your filing obligations.

📧 Get in touch today: [email protected]
🌐 www.ashtonknight.net

We’re here to make Self Assessment simple and stress-free.

Ashton Knight Accountants Empowering Your Financial Future with Expertise and Integrity

25/05/2026

📢 We’ve launched our official WhatsApp Channel!

Stay up to date with:
✅ Tax tips & updates
✅ Accounting insights
✅ Business news
✅ Financial planning advice
✅ Important HMRC deadlines

Perfect for all UK business owners and professionals operating through a limited company or self employed and anyone wanting simple financial guidance straight to their phone.

Join the channel here 👇
https://whatsapp.com/channel/0029Vb5GK5A0rGiVi3eHUi2v

Don’t miss out — follow us today and stay informed with quick, easy-to-understand updates.

Follow Ashton Knight Accountants's WhatsApp channel. Welcome to Ashton Knight, an accountancy practice with over 100 years of combined experience serving businesses and individuals across the UK. We will provide you with key updates relating to the HMRC. Join 13 followers for the latest updates.

25/05/2026

🚗 HMRC Mileage Rates Have Increased for 2026/27 🚗

Good news for employees and business owners who use their own vehicles for work purposes.

HMRC has increased the Approved Mileage Allowance Payment (AMAP) rate for cars and vans from 45p to 55p per mile for the first 10,000 business miles.

✅ New rates from 2026/27:

🔹Cars & Vans: 55p per mile (first 10,000 miles)
🔹Cars & Vans: 25p per mile (over 10,000 miles)
🔹Motorcycles: 24p per mile
🔹Bicycles: 20p per mile

This is the first increase in many years and could provide meaningful tax-free reimbursement savings for employees who travel for business.

Important reminders:
✔ Applies to business travel only (not normal commuting)
✔ Employers can reimburse up to these rates tax-free
✔ If your employer pays less, employees may be able to claim tax relief on the difference from HMRC

Businesses should now review:
🔹Mileage reimbursement policies
🔹Payroll settings
🔹Employee expense procedures

Full HMRC guidance here:
https://www.gov.uk/government/publications/rates-and-allowances-travel-mileage-and-fuel-allowances/travel-mileage-and-fuel-rates-and-allowances

Ashton Knight can also help you optimise your tax position and ensure you are claiming all available business travel reliefs Ashton Knight Ltd - UK Accountants

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28/03/2026

🚨 Making Tax Digital is coming – are you ready?

From 6 April 2026, HMRC is changing how self-employed individuals and landlords report their income. If you earn over £50,000, this will apply to you.

👉 No more one annual tax return
👉 Quarterly updates will become mandatory
👉 Digital record-keeping will be essential

Who’s affected?
✔️ Sole traders & freelancers
✔️ Landlords
✔️ Anyone with combined income over £50k

If your 2024/25 tax return crosses the threshold, you’ll need to be compliant by April 2026.

💡 The good news? You don’t have to figure this out alone.

At Ashton Knight, we help you:
✔️ Get set up with MTD-compatible software
✔️ Register with HMRC
✔️ Stay compliant with quarterly submissions
✔️ Remove the stress from the entire process

📩 Not sure if this applies to you? Let’s have a quick chat and get you ahead of the change.

🔗 www.ashtonknightaccountants.co.uk

22/02/2026

🔍 HMRC enquiries are rarely random.

HM Revenue & Customs uses a sophisticated data-analysis system called Connect, which cross-references information from hundreds of sources — including bank data, Companies House filings, Land Registry records, online marketplaces, and other third-party reports.

It processes vast amounts of data to build a financial profile of individuals and businesses.

When something doesn’t align — such as undeclared rental income, discrepancies between declared income and lifestyle, or unusual year-on-year fluctuations — the system flags this as an anomaly. That’s typically when an enquiry is opened, and often HMRC already has a detailed understanding of the position before contacting you.

💼 The key takeaway?
Accuracy, consistency, and proactive tax planning are critical. Mistakes, omissions, or inconsistencies can trigger unnecessary scrutiny.

Ashton Knight Accountants, we help ensure your tax affairs are accurate, compliant, and consistent — so you’re never caught off guard. And if HMRC does come calling, we’re right there with you, managing the process, communicating on your behalf, and working to achieve the best possible outcome.

✅ Proactive tax planning
✅ Accurate and timely submissions
✅ Full support through any HMRC enquiry
Don’t wait until there’s a problem. Get ahead of it.

📩 Get in touch with the team at Ashton Knight Accountants today and let us give you the peace of mind you deserve. Drop us an email at [email protected] and we’ll be happy to help.

14/02/2026

📢 Need to Make a Disclosure to HMRC for the tax year 2025-2026, Ashton Knight Can Help. 🇬🇧💼

Many people assume HMRC won’t notice missing income or gains. The reality? HMRC already holds more data about you than you might think.

🔎 What information does HMRC already have?

HMRC receives data directly from:

▪ Employers (PAYE salary, bonuses & benefits)
▪ Banks & building societies (interest income)
▪ Investment platforms (dividends & disposals)
▪ Crypto exchanges (from 1 January 2026 under new reporting rules)
▪ The Land Registry (property sales)
▪ Letting agents & property platforms
▪ Overseas tax authorities through international data-sharing agreements

This means HMRC can cross-check your Self Assessment against third-party data.

⚠️ If something is missing, it can trigger enquiries, penalties and interest.

✅ How Ashton Knight Can Help

At Ashton Knight Accountants, we help you get ahead of the issue, not react to it.

✅Review your full income position
✅ Identify undeclared income or gains
✅ Calculate capital gains (including crypto & property)
✅ Prepare accurate disclosures for the current tax year
✅ Advise on voluntary disclosure if needed
✅ Minimise penalties where possible

Whether it’s crypto trading, rental income, overseas income, dividends, or self-employment, we ensure everything is disclosed correctly and tax-efficiently.

💬 If you’re unsure whether you need to declare something, it’s better to check now than deal with an HMRC enquiry later.

📩 Message or email ([email protected]) us confidentially to review your position.

Ashton Knight -Clear advice, Full compliance. Peace of mind.

13/02/2026

Tax Digital (MTD) for Income Tax – Are You Ready?

Big changes are coming from HM Revenue & Customs and if you’re self-employed or a landlord, this will affect you.

📅 When does it start?

MTD for Income Tax will become mandatory:

• April 2026 – If your qualifying income is over £50,000 (based on your 2024/25 tax return)
• April 2027 – If your qualifying income is over £30,000

(Qualifying income = gross income from self-employment and/or property before expenses.)

👥 Who does it impact?

MTD applies to:
✅ Sole traders
✅ Self-employed professionals
✅ Landlords (UK or overseas property income)

If you currently submit one Self Assessment tax return per year, you’ll soon need to:

✅ Keep digital records
✅ Submit quarterly updates to HMRC
✅ File a final declaration at year end

💷 What happens if you don’t comply?

HMRC will apply a new points-based penalty system:

⚠️ You’ll receive a penalty point for each late submission
⚠️ Once you reach the threshold, a £200 fine applies
⚠️ Further late submissions trigger additional £200 penalties
⚠️ Late payment interest will also apply

💡 The key message? Don’t wait until April 2026.

We can help you become compliant and get your processes right.

If you’d like to check whether you’ll be affected and how to prepare, feel free to message me.