FEB Chartered Accountants

Planning family days out this summer? You could save more than you think.

As part of the Great British Summer Savings scheme, a temporary VAT reduction from 20% to 5% is available on a range of eligible family activities until 1 September across the whole UK, including Northern Ireland
https://www.gov.uk/government/news/great-british-summer-savings-tax-cut-on-kids-meals-and-days-out-goes-live?

The reduced VAT rate applies to eligible:
> Theme parks and visitor attractions
> Zoos and wildlife parks
> Cinema tickets
>Theatre and family shows
> Soft play and adventure parks
> Children's meals in participating restaurants

Many businesses are automatically passing on the saving, but it's always worth checking before you book, as participation can vary. https://www.gov.uk/government/news/great-british-summer-savings-major-businesses-
pass-on-vat-cut-to-families-on-days-out?

If you're planning a few family days out over the summer holidays, these savings could soon add up!
Have you spotted any great offers or attractions taking part in Northern Ireland? Share them in the comments below.

Call: 028 9024 0344
Website: www.febni.com

If you're self-employed or complete a Self Assessment tax return, don't forget that your second Payment on Account (POA) is due by 31 July.

A Payment on Account is an advance payment towards your next tax bill, based on your previous year's tax liability. Missing the deadline could result in
interest being charged, so it's worth checking if this applies to you.

If your income has reduced since last year, you may be able to reduce your Payments on Account - but it's important to do this correctly to avoid underpaying your tax.

If you're unsure how much you need to pay or whether a Payment on Account applies to you, we're here to help.

Get in touch before the deadline for advice and support.

Call: 028 9024 0344
Website: www.febni.com

There has been a lot of discussion around the upcoming Companies House accounts reforms, particularly the requirement for small companies and micro• entities to file a Profit & Loss (P&L) account from April 2028.

Many business owners were understandably concerned that sensitive financial information, including profits, would be publicly available for customers, suppliers and competitors to view.

The good news is that the government has confirmed businesses will be able to apply for an exemption to keep their Profit & Loss account off the public register.

While the information will still need to be submitted to Companies House, it does not have to be made publicly visible where an exemption applies.

Other key changes include:
> The reforms are now due to take effect from April 2028, giving businesses additional time to prepare.
> Abridged accounts will be withdrawn as part of the reforms.
> Accounts will need to be filed digitally using compatible software, as paper and web-based filing services will be phased out.

Although these changes are still some time away, it's reassuring to see that concerns around commercial confidentiality have been recognised.

We'll continue to keep our clients updated as further guidance is released and explain what these changes mean for your business.

Call: 028 9024 0344
Website: www.febni.com

As your business grows, your accounting needs evolve. What worked in the early days may no longer provide the efficiency or insight you need today.

Reviewing your software can help you:

> Save time through automation
> Reduce manual errors
> Access real-time financial data
> Improve reporting and decision-making

We can assess your current setup and recommend solutions that align with your business goals - helping you work smarter, not harder.

Call: 028 9074 0344
Website: www.febni.com

A couple of weeks ago, the team swapped the office for an afternoon exploring Belfast with Taste & Tour.

It was a great chance to catch up outside of work, enjoy some fantastic local food.

Sometimes it's good to press pause, spend time together, and support the brilliant local businesses that make our city what it is.

A big thank you to the Taste & Tour team for a fantastic experience-we'd definitely recommend it to anyone looking for a team day out that's a little different > https://tasteandtour.co.uk

Have you been on one of their tours? We'd love to hear your favourite stop or any recommendations for our next team outing!

Call: 028 9024 0344
Website: www.febni.com

A little update from our team - we'll be taking some time to recharge over the summer period.

Our office will be closed on the 13th and 14th of July and will reopen on the 15th of July.

We'll make sure any urgent matters are dealt with before we close, and we appreciate your patience while our team takes a well-earned break.

Thank you to all our clients for your continued support - we hope you enjoy some time to relax, enjoy the predicted sunshine, and spend time with family and friends.

We look forward to getting back to supporting you soon.

Call: 028 9024 0344
Website: www.febni.com

For many businesses, the summer months bring changes in demand, staffing, and cash flow.

Planning ahead now can help you stay in control and avoid unnecessary pressure later.

A proactive approach allows you to:

Anticipate quieter or busier periods
› Adjust staffing and operational costs
> Maintain healthy cash flow throughout the season
> Make informed decisions based on realistic forecasts

Even a simple financial review now can make a big difference in how smoothly the next few months run.

Call: 028 9024 0344
Website: www.febni.com

Turnover is important - but profit is what really matters. Regularly reviewing your profit margins can give you valuable insight into how efficiently your business is operating.

By understanding your margins, you can:

> Identify areas where costs may be creeping up
> Review pricing to ensure it reflects your value
> Improve overall profitability without necessarily increasing sales

Make more informed strategic decisions.

Small adjustments can have a big impact. We can help you analyse your figures and uncover opportunities to strengthen your bottom line.

Call: 028 9024 0344
Website: www.febni.com

Launching a new business is exciting - but getting the financial foundations right from the start is key to long-term success. From choosing the right structure to registering with HMRC, early decisions can have a lasting impact.

Getting professional advice early can help you:

> Choose between sole trader or limited company
> Register correctly and meet compliance requirements
> Set up efficient bookkeeping and reporting systems
› Avoid common (and costly) mistakes

We work with start-ups across the UK, helping turn great ideas into well-structured, financially sound businesses.

Call: 028 9024 0344
Website: www.febni.com