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Edward Harris Chartered Certified Accountants

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Specialist Accountants in Property, Trades & Construction.

02/11/2026

Making a bit of money from a side hustle?

The tax rules are about to become more generous.

From April 2027, it’s proposed that the Trading Allowance increases from £1,000 to £3,000.

The Self Assessment reporting threshold for trading income is also expected to increase to £3,000.

So someone earning a relatively small amount from a side business may have less tax administration to deal with.

But don’t confuse turnover with profit or assume £3,000 means every side hustle becomes completely tax-free.

You still need to understand which rules actually apply to you.

02/11/2026

Company directors just avoided another HMRC reporting requirement.

HMRC had been considering making owner-managed companies report more information about payments and transactions between the company and its directors or shareholders.

But those new reporting rules have now been shelved for the time being.

That means no additional reporting requirement is being introduced right now.

But remember, the existing rules around director’s loans, dividends and payments to shareholders still apply.

01/11/2026

Landlords, your property income could be taxed at higher rates from April 2027.

The proposed property income tax rates are 24% for basic-rate taxpayers, 44% for higher-rate taxpayers and 49% for additional-rate taxpayers.

So if you’re personally receiving rental profits, you could end up paying more tax on exactly the same level of profit.

And remember, that’s tax on the profit, not simply the rent coming into your bank account.

If you own rental property personally, this is definitely something to factor into your future cash-flow planning.

01/11/2026

Some tax offences could soon cost you more than just a penalty.

From April 2027, it’s proposed that where a director is convicted of certain serious HMRC security offences, a court could consider banning them from acting as a company director.

And that disqualification could last for up to five years.

This isn’t aimed at someone simply making an innocent mistake on their tax return.

But it does show that the consequences of serious tax non-compliance are becoming much more significant.

31/10/2026

Corporation Tax is becoming more digital

Your Corporation Tax return could look very different in the next few years.

HMRC is looking at using more digital records, software, data and even AI to modernise the Corporation Tax system.

The idea is to improve how businesses keep records, report information and interact with HMRC.

There aren’t any immediate changes yet.

But the direction is pretty clear:

HMRC wants business tax reporting to become more digital and more connected.

So keeping clean digital records is only going to become more important.

31/10/2026

R&D claims are being simplified

If your company claims R&D tax relief, there’s some good news coming.

From April 2027, it’s proposed that businesses will no longer need to submit the separate R&D Claim Notification Form.

And from autumn 2027, the Additional Information Form is also expected to be simplified.

So the government is basically trying to reduce some of the paperwork around making an R&D claim.

It doesn’t mean the rules around qualifying for R&D disappear.

But for businesses genuinely carrying out qualifying R&D, the claims process should become a little easier.

Comment budget for a full breakdown.

30/10/2026

🏙️ CASE STUDY: MANCHESTER INVESTOR

Challenge: 6 properties, 45% tax, rising mortgage costs

What we did:
1️⃣ Portfolio Refinancing → Lower interest rates
2️⃣ Tax Structure Review → Moved to Ltd Co via s162
3️⃣ Full Interest Relief → No more Section 24 hit
4️⃣ Ongoing Tax Strategy → For next purchasesResult:

💸 £18,000 saved per year in tax
📉 Lower monthly mortgage payments
Tax planning isn’t an expense. It’s an investment.

Property Tax Specialists | Manchester & GM
📞 +44 (0) 161 706 1523
📲 WhatsApp: https://wa.me/447562518682
📧 [email protected]
🌐 https://edwardharris.co.uk/

30/10/2026

Planning to sell your business after April 2027?

One valuable tax relief is being cut in half.

Business Asset Disposal Relief can reduce the Capital Gains Tax you pay when you sell a qualifying business or company shares.

But from 6 April 2027, the lifetime limit is proposed to fall from £1 million to just £500,000.

So less of your gain could qualify for the reduced BADR tax rate.

For business owners planning an exit, that makes timing and tax planning even more important.

Don’t wait until you’ve already agreed the sale price to start thinking about the tax.

Ideally, your exit tax planning should start years before you sell.

Comment BUDGET for the full autumn budget breakdown.

30/10/2026

Could you sell your business and pay just 10% Capital Gains Tax?

From April 2027, some founders potentially could.

A new Founders’ Relief is proposed, which could give qualifying founders a 10% CGT rate on up to £10 million of lifetime gains.

But there’s a catch.

The conditions are pretty strict.

Broadly, you’ll need to have owned at least 25% of the company when the business started, held the shares for at least five years, and been UK resident for five years.

And the company itself needs to meet certain trading, growth and innovation conditions.

So if you’re building a business with the intention of selling one day, this is definitely a relief worth planning for early.

Because by the time you come to sell, it may already be too late to fix the structure.

Comment BUDGET for a full breakdown of the autumn budget.

27/10/2026

🚨 HIT £90,000 TURNOVER?
That triggers VAT registration.

Here’s what happens:
1️⃣ You must charge 20% VAT
2️⃣ Quarterly VAT returns to HMRC
3️⃣ New admin + cash flow planning

But: You can also reclaim VAT on business costs 💸
❌ Ignore it = Penalties
✅ Plan for it = Smooth growth

We help SMEs navigate VAT registration + keep profits healthy.
📞 +44 (0) 161 706 1523
📲 WhatsApp: https://wa.me/447562518682
📧 [email protected]
🌐 https://edwardharris.co.uk/

Address

Prospect House
Oldham
OL96HT

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Telephone

+447562518682

Website

http://www.edwardharris.co.uk/, https://linktr.ee/edward.harris1

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