Thorne Widgery

Could you be paying more VAT than necessary on building work?

Certain residential conversions and renovations can qualify for a reduced 5% VAT rate, rather than the standard 20%.

Getting the VAT treatment wrong can be costly for builders, developers and property owners.

In our latest blog, we look at when the 5% rate can apply, what happens if too much VAT has been charged and the key points to consider before work begins.

Read the full article here: https://www.thornewidgery.co.uk/could-your-building-work-qualify-for-the-5-vat-rate/

We’re pleased to welcome Aleks Striunga to the TW team as our new Accounts Apprentice! 👋

Aleks developed an interest in accounting during sixth form and is looking forward to building his knowledge, taking on new challenges and gaining experience across different areas of the profession.

Outside of work, Aleks is a keen footballer and plays for local club Pegasus, as well as enjoying going to the gym. ⚽

Welcome to the team, Aleks! We’re looking forward to seeing you develop your career with us.

How would your business cope if a key person was suddenly unable to work?

Key person insurance can provide valuable financial protection if an important director or employee becomes seriously ill, suffers an injury or sadly passes away.

However, the tax treatment of the premiums and any eventual payout will depend on the purpose and structure of the policy.

Read our latest blog to find out what businesses need to consider.
🔗 https://www.thornewidgery.co.uk/key-person-insurance-what-businesses-need-to-know-about-tax/

⚠️ HMRC is preparing to sign up MTD no-shows automatically.

From September, HMRC will begin registering sole traders and landlords who it believes should have joined Making Tax Digital for Income Tax in April 2026 but have not yet signed up.

However, automatic registration does not automatically make you compliant.

Those affected may still need to:
• Check that HMRC holds the correct business details
• Choose compatible software
• Bring digital records up to date from April 2026
• Submit the required quarterly updates

If you believe MTD applies to you, our advice is not to wait for HMRC to contact you.

Read our latest blog to learn what the announcement means and what you should do next.

🔗 https://www.thornewidgery.co.uk/hmrc-is-preparing-to-sign-up-mtd-no-shows-automatically/

HMRC is preparing to sign up MTD no-shows automatically - Thorne Widgery The first Making Tax Digital (MTD) for Income Tax quarterly update deadline has now passed, but HMRC is already turning […]

We’re delighted to welcome Evie Williams to the Thorne Widgery team as our new Admin Apprentice 👋

Evie joins us at the start of her career in accountancy and will be working towards her AAT Level 2 qualification, while gaining experience across both admin and accountancy.

She’s looking forward to developing her skills, taking on new challenges and getting to know the team along the way.

Welcome to the team, Evie! 🎉

MTD for Income Tax: your first quarterly update deadline is approaching.

The first update is due by 7th August 2026 and covers 6th April to 5th July 2026.

No tax is payable from the update, but your digital records need to be accurate and your software ready.

If you have more than one qualifying business, such as multiple self-employment businesses or property businesses, you must submit a separate quarterly update for each one. This applies even if there has been no income or expenditure during the reporting period.

Would you trust an online influencer or an AI chatbot with an important tax or accounting decision?

More business owners are turning to social media, online influencers and AI tools for financial guidance. While these platforms can be useful for initial research, the advice they provide may be outdated, oversimplified or completely unsuitable for your individual circumstances.

From questionable expense claims and “tax-efficient” salary advice to VAT registration and limited company myths, following generic online guidance can result in costly errors and unnecessary HMRC scrutiny.

Our latest blog looks at:
• The risks of relying on financial influencers
• How AI-generated advice can go wrong
• Common accounting and tax misconceptions online
• Why professional judgement remains so important

Social media and AI can be valuable starting points, but they should not replace advice from someone who understands your business and the latest UK legislation.

Read the full blog here:
https://lnkd.in/edcB75Kj

We've joined DJH , an accountancy group with 19 offices across the UK and Ireland.

Alongside our own technology-led approach, we now have access to a wider range of specialist services, including estate planning, R&D tax credits and corporate finance, further enhancing the advice we offer clients across Herefordshire and Shropshire.

With shared values and ambition, this partnership gives us the platform to invest even further in our team, our technology and the service we provide. We're excited to see what it means for our clients and our team! 🚀

Read the full story here -

We’ve joined DJH! - Thorne Widgery We’re excited to share that Thorne Widgery has joined DJH, one of the UK’s fastest-growing accountancy groups, marking a fantastic […]