AGS & Accountancy Ltd

Alert for every tradesperson and DIY trader: You might be missing out on tax relief when replacing or repairing your essential work tools and clothing. Find out why it matters and how to claim. Read on to see if you qualify.

Accounting News & Business Insights | AGS If you pay for replacing or repairing small tools you need for your job, you may be able to claim tax relief from HMRC. Eligible tools include items such as scissors, small hand tools and electric drills that are essential for carrying out your work and are not provided by your employer.

The Chancellor has set the date for his first UK Budget: 28 October 2026. Curious what changes might be announced? Plus, submissions for Budget ideas close early September. Read on to see how you can have your say and what to expect from this important date.

Accounting News & Business Insights | AGS The new Chancellor of the Exchequer, John Healey has confirmed, in a video message, that the next UK Budget will take place on Wednesday, 28 October 2026. Details of all the Budget announcements will be made on a special section of the GOV.UK website which will be updated following completion of the...

Alert: Are you sure you're not paying too much tax on income from abroad? Many UK taxpayers might be missing out on reliefs or exemptions. Find out why it matters and see if your overseas earnings are being taxed fairly. Read on to check your status and avoid overpaying.

Accounting News & Business Insights | AGS UK taxpayers with income from overseas may not always be aware of the tax rules that apply.  Foreign income is defined as any income from outside England, Scotland, Wales and Northern Ireland. The Channel Islands and the Isle of Man are classed as foreign. Different rules may apply if you’re elig...

Alert for UK employers: You could reduce your National Insurance bill by up to £10,500 each tax year. Many businesses, charities, and care employers could claim this saving automatically through payroll. Not sure if you qualify? Find out why it might matter to your business now and how to claim — it could make a big difference. Read on to learn more.

Accounting News & Business Insights | AGS The Employment Allowance can help eligible employers reduce their National Insurance costs by up to £10,500 each tax year. The allowance reduces an employer’s Class 1 National Insurance liability and is applied automatically through payroll once a valid claim has been made.

Alert for self-employed folks: when your profits swing wildly year to year, HMRC's averaging relief could smooth your tax bill and balance your payments better. Curious if you qualify? Find out why this matters now and how it could help you smooth out your tax payments.

Accounting News & Business Insights | AGS Some self-employed individuals experience significant fluctuations in their profits from one year to the next. When this happens, HMRC’s averaging relief may help to regularise tax payments by levelling profits across more than one tax year.

Alert: Have you kept the right documents after your tax return is submitted? Keeping the correct records could make all the difference if HMRC comes knocking. Find out why your paperwork matters now and how long to keep it safely to avoid complications. Read on to stay ahead.

Accounting News & Business Insights | AGS After submitting your self-assessment return it is important to keep your records used to prepare the return. HMRC may ask to check your return, so it is important to keep the supporting documents and information used to complete your tax return.

Alert: Mileage rates for work journeys have changed! Car and van rates jump to 55p per mile for the first 10,000 miles. Curious how this affects you or a colleague? Find out why thousands could be missing out on tax-free relief and what to check with your employer. Read on to make sure you're claiming what's rightfully yours.

Accounting News & Business Insights | AGS Employees who use their own vehicle for business journeys may receive Mileage Allowance Payments (MAPs) from their employer. These payments can be made tax-free up to HMRC’s approved amount, calculated by multiplying business miles travelled by the relevant rate per mile.

Alert: Getting money from family? You might not owe tax, but the rules could affect your loved ones' estate later. Curious about those exemptions? Read on to find out why this matters today.

Accounting News & Business Insights | AGS Receiving money from a family member can be a welcome source of financial support, but many people are unsure whether they need to pay tax on it. In most cases, the person receiving a gift does not pay Income Tax on money given by family. However, the gift could have Inheritance Tax implications for...

Alert: Donating land, property, or shares to charity can unlock valuable tax breaks you might not know about. It's not just cash that counts! Find out why this matters and how to claim your relief properly. Read on to see what you need to keep for your records.

Accounting News & Business Insights | AGS Most people are aware that cash donations to a charity can qualify for tax relief. However, it is less well known that gifts of land, property and qualifying shares can also provide valuable tax advantages.

Alert: Are you missing out on free government top-up for childcare? Many parents qualify for extra support with Tax-Free Childcare. Find out how to unlock up to £2,000 a year per child to ease rising costs. Don't let this slip by. Read on to see if you're eligible and how to claim your government boost.

Accounting News & Business Insights | AGS With childcare costs continuing to rise, many working families could be missing out on valuable support through the Tax-Free Childcare scheme. The scheme helps eligible parents pay for registered childcare by providing a government top-up on their contributions. For every £8 paid into a childcare a...