What are the opening hours?

Monday 8:30am - 5pm Tuesday 8:30am - 5pm Wednesday 8:30am - 5pm Thursday 8:30am - 5pm Friday 8:30am - 1pm

Bradshaw Johnson Chartered Accountants

Home
United Kingdom
Hitchin
Bradshaw Johnson Chartered Accountants

www.bjca.co.uk Chartered accountants with offices in Hitchin, Hertfordshire and St Neots, Cambs

As a friendly and dynamic Practice, we pride ourselves on our long term relationships with many of our clients, some of whom have been with us for over 40 years. Such is their confidence in the service we offer, we now act for younger generations and their families as well! As well as acting for clients who are local to our two offices, we also represent high-value enterprises based in London, as well as an extensive portfolio of national and international clients. We offer a broad spectrum of expertise in many diverse areas including industrial, commercial, farming, building, technological and professional businesses. We also liaise closely with professional institutions, solicitors and barristers on many investigations and litigation support matters.

09/10/2026

📬 Received a Letter from HMRC? Here's What You Need to Know About Simple Assessments

HMRC has started sending out Simple Assessment letters (PA302) for the 2025–26 tax year, with a further batch expected between October and December 2026.

What is a Simple Assessment?

It's used when HMRC can't collect tax owed through PAYE or Self Assessment. Common reasons you might receive one include:
💰 Tax due on pension income
💰 Savings interest or dividends
💰 A second source of untaxed income
💰 Receiving more tax-free allowance than you were entitled to
💰 Amounts owed that can't be collected through your tax code (typically £3,000+)

Key dates:
📅 Letters to working-age taxpayers began 30 June 2026
📅 Letters to pensioners began 12 August 2026
📅 A further batch relating to bank/building society interest is due October–December 2026

⚠️ In some cases, you may receive more than one letter for the same tax year.

When do you need to pay?
✅ Letter received before 31 October 2026 → payment due by 31 January 2027
✅ Letter received on or after 31 October 2026 → payment due within 3 months of the letter date

You can pay in full or by instalments.

HMRC expects to issue around 1.8 million of these letters this year.

What should you do if you get one?

Check the calculation carefully against your own records. If you think something's incorrect, or believe the assessment shouldn't apply to you, it's important to contact HMRC.

💬 Received a Simple Assessment letter and not sure what it means or what to do next? Get in touch with our team — we can review the assessment and help you understand exactly what action to take.

📞 0800 026 0854 | 🌐 bjca.co.uk

08/10/2026

👴 Almost 7 million UK adults have never checked their State Pension forecast, according to new research published by HMRC.

That's around one in eight adults, and people aged 45 to 54 were the group most likely to have never looked.

Why it's worth a few minutes:
✅ Your forecast helps you see where you stand, including any gaps in your National Insurance record.
✅ You can check it through the HMRC app or on GOV.UK.
✅ If there are gaps, topping up may be possible if you're eligible, so check your position before paying anything.

Not sure what your forecast means for your retirement plans? Give us a call.

📞 0800 026 0854 | 🌐 bjca.co.uk

07/10/2026

💰 Do You Have a Forgotten Child Trust Fund Worth £2,310+ Waiting for You?

HMRC has revealed that around 827,000 Child Trust Fund accounts remain unclaimed — with the average unclaimed account now worth £2,310.

What's a Child Trust Fund?

If you were born between 1 September 2002 and 2 January 2011, the government set up a savings account for you with an initial deposit of at least £250. These accounts mature once you turn 18, at which point the money can be withdrawn or reinvested.

📈 Since payouts began in September 2020, almost 3 million accounts have already been claimed or transferred — but hundreds of thousands are still sitting unclaimed.

🔍 How to check if you have one:
It only takes around 5 minutes using the free GOV.UK Child Trust Fund locator tool. You'll just need:
✅ Your National Insurance number
✅ Your date of birth

Nearly 500,000 people used the tool in the nine months to August 2026 — and most successful claims are paid out within three weeks.

Lucy Rigby, Economic Secretary to the Treasury, said finding a lost account is quick, easy and free using the GOV.UK tool.

👨‍👩‍👧‍👦 Got children who've recently turned 18, or approaching 18? It's well worth checking for a forgotten Child Trust Fund — it could be a simple way to release some existing savings.

💬 Want to talk through your family's savings and financial planning? Get in touch with our team — we're happy to help.

📞 0800 026 0854 | 🌐 bjca.co.uk

06/10/2026

📊 Nearly 3 in 10 UK Businesses Report Falling Turnover in August

New data from the Office for National Statistics paints a challenging picture for UK businesses this autumn.

Key findings from the latest Business Insights and Conditions Survey:

📉 28% of trading businesses saw turnover fall in August — up from 22% the month before
📉 Among larger firms (10+ employees), this rises to 31%

Top concerns:
😟 Economic uncertainty — cited by 29% of businesses overall
😟 Labour costs — the biggest worry for larger employers, at 37%
💰 Nearly 3 in 10 businesses reported higher input costs in August
💰 11% raised their own prices, with 17% planning to raise prices in October — led by the construction sector at 32%

⚡ Energy costs remain a major worry:
64% of businesses are concerned about energy prices — rising to a striking 90% among accommodation and food service firms.

✅ The good news? Despite the pressures, the vast majority of businesses are still trading — 95% were open in September, with 85% operating at full capacity.

What does this mean for you?

If you're a small business owner, these figures offer a useful benchmark for how your peers are managing rising costs, pricing decisions and energy exposure this autumn.

💬 Concerned about managing rising costs in your business? Get in touch with our team — we're happy to talk through your options.

📞 0800 026 0854 | 🌐 bjca.co.uk

05/10/2026

🏛️ Pensions are changing for Inheritance Tax.

From 6 April 2027, most unused pension funds and pension death benefits will count as part of a person's estate for IHT, something they generally haven't done until now.

What this means:
📌 The personal representatives (the people managing the estate) will be responsible for reporting and paying any IHT due on those pension assets.
📌 Transfers to a surviving spouse or civil partner stay exempt.
📌 Some benefits, including death-in-service benefits from registered schemes, remain outside the scope.

If you're planning your estate, or you hold significant pension funds, it's a good time to review your will and wider plans. Speak to us about estate planning. We're here to help.

📞 0800 026 0854 | 🌐 bjca.co.uk

02/10/2026

📱 Making Tax Digital for Income Tax reaches more people from April 2027.

If you're self-employed or a landlord with qualifying income over £30,000 in your 2025/26 tax year, you'll need to use MTD from 6 April 2027. The threshold drops again to £20,000 from 6 April 2028, based on your 2026/27 income.

What MTD means in practice:
✅ Keeping digital records of your business or property income
✅ Using compatible software
✅ Sending HMRC quarterly updates every three months
✅ Submitting your return through your software

Sound daunting? Getting set up early makes the change far smoother, and cloud accounting software can help. Not sure whether you're in scope? Get in touch and we'll help you check.

📞 0800 026 0854 | 🌐 bjca.co.uk

01/10/2026

⚠️ Attention Va**ng Sector: New Duty Rules Take Effect 1 October 2026

If you manufacture, import, wholesale or sell va**ng products, HMRC is urging you to make sure you're ready — the new Va**ng Products Duty and Va**ng Duty Stamps Scheme come into effect from 1 October 2026.

Why the change?

The new duty forms part of the government's wider efforts to tackle youth va**ng, improve public health, and support a smoke-free generation. It's expected to raise over £550 million a year by 2030–31.

What does this mean for your business?

🏭 Manufacturers & duty suspension businesses: Make sure you have the necessary HMRC approvals in place before the new regime begins.

🏪 Retailers & wholesalers: Check with your suppliers that the products you stock meet the new requirements.

📅 Key dates to know:
➡️ Until 30 November 2026 — UK representatives and warehousekeepers can buy transitional duty stamps
➡️ Until 31 December 2026 — Transitional stamps can still be affixed to products
➡️ From 1 January 2027 — Only digital duty stamps can be affixed
➡️ Until 31 March 2027 — Retailers/wholesalers can sell eligible unstamped stock already held
➡️ From 1 April 2027 — All va**ng products sold or supplied in the UK must carry a valid stamp

👜 Travellers bringing va**ng products into the UK for personal use will also face new rules from 1 October — with different requirements depending on whether you're entering Great Britain or Northern Ireland.

🚨 Important: HMRC has warned that businesses failing to comply could face civil or criminal sanctions.

Need help understanding how these changes affect your business? Get in touch with our team — we're happy to help you get ready.

📞 0800 026 0854 | 🌐 bjca.co.uk

30/09/2026

📢 HMRC Reviewing New Powers to Recover Unpaid Tax Debts

HMRC is looking at proposals that would give it new powers to recover smaller, persistent tax debts from individuals and businesses who repeatedly don't engage with collection efforts.

What's being proposed?

Under the plans, HMRC could recover debts through automated monthly instalments taken directly from a taxpayer's UK bank or building society account — but only as a last resort, once standard collection methods have been fully exhausted.

📊 To put the scale into context: HMRC estimates over 750,000 lower-value debts, worth more than £2 billion in total, go unresolved each year after normal collection attempts fail.

🔒 Proposed limits:
➡️ Capped at £5,000 for individuals
➡️ Capped at £10,000 for businesses

What safeguards are proposed?

Before any deduction, taxpayers would receive a formal Pre-Deduction Notice (PDN) — a final chance to:
✅ Pay the debt
✅ Contact HMRC
✅ Set up a Time to Pay arrangement
✅ Raise a formal objection

A 14-day notice period is currently proposed, though several professional bodies are pushing for this to be extended to at least 30 days.

HMRC has also proposed additional protections for those needing extra support or facing genuine financial hardship, including affordability checks and manual case reviews.

📅 The consultation closed on 28 August 2026, with a formal summary of responses expected later this year.

Worried about a tax debt, or want to understand how these proposals could affect you? Get in touch with our team — we're here to help.

📞 0800 026 0854 | 🌐 bjca.co.uk

29/09/2026

Hobby or Hustle? Understanding the Tax Rules for Side Hustles

Do you earn a bit of extra money outside your main job? Whether it's selling handmade crafts online, dog walking at weekends, tutoring in the evenings, or picking up delivery shifts, you're not alone. Side hustles have become an increasingly common way to top up income — but many people don't realise that, once earnings pass a certain point, HMRC expects to hear about it.

Here's what you need to know about where the line between "hobby" and "hustle" actually falls, and what to do once you've crossed it.

🔹What counts as a side hustle?

Almost any regular income-generating activity outside your main employment could count, including:

- Selling items online (via platforms like eBay, Vinted, Etsy or Depop)
- Freelance or creative work (writing, design, photography)
- Tutoring or coaching
- Dog walking or pet sitting
- Delivery or rideshare driving
- Renting out a room, driveway or equipment
- Content creation or social media income

If you're doing any of these on top of your main job, it's worth understanding how HMRC views that income.

🔹The £1,000 trading allowance

This is the key number to remember. HMRC allows everyone a £1,000 tax-free trading allowance each tax year for income from self-employment or casual trading activities.

Earn under £1,000 in total from your side activities? In most cases, this counts as a hobby in HMRC's eyes, and you don't need to register or report it.
Earn more than £1,000? You've moved beyond "hobby" territory. HMRC will expect you to register for Self Assessment and declare that income — even if it was paid in cash, or if you don't think of it as a "real" business.

It doesn't matter whether the money lands in your bank account, comes to you in cash, or arrives via a payment app — if your total side income exceeds £1,000 in a tax year, it needs to be reported.

🔹Why the distinction matters

Treating a genuine income stream as "just a hobby" can catch people out. HMRC has been increasing its focus on online marketplaces and payment platforms, which are now required to share seller data under new reporting rules. If your side income has been building up unreported, it's increasingly likely to come to HMRC's attention — and the earlier you get on top of it, the better.

Getting it right isn't just about avoiding penalties. It also means you're accurately tracking your own income, claiming any expenses you're entitled to, and avoiding a stressful scramble if HMRC does come asking.

🔹What to do if you've gone over £1,000

If your side hustle income for the tax year exceeds £1,000, you'll typically need to:

- Register for Self Assessment with HMRC if you haven't already.
- Keep records of your income and any related expenses throughout the year.
- Complete a Self Assessment tax return, declaring your side hustle income alongside any other income.
- Pay any tax and National Insurance due by the relevant deadlines.

You can choose to either deduct your actual business expenses from your income, or simply deduct the £1,000 trading allowance itself (rather than your real expenses) — whichever works out better for you.

🔹Keeping good records

Even if you're not sure yet whether you'll go over the £1,000 threshold, it's good practice to keep a simple record of what you earn and spend from the start. This makes it far easier to:

- Work out whether you need to register
- Complete your tax return accurately
- Claim any allowable expenses you're entitled to
- Provide evidence if HMRC ever asks questions

🔹The bottom line

A bit of extra income from something you enjoy doesn't automatically mean a tax headache — but once your side hustle earns you more than £1,000 a year, it's no longer just a hobby as far as HMRC is concerned. Knowing where you stand, and acting early, means you can enjoy your side income with confidence instead of worrying about what might be around the corner.

Not sure whether your side hustle needs to be declared, or need help registering and filing? Get in touch with our team — we're happy to talk you through it.

📞 0800 026 0854 | 🌐 bjca.co.uk

28/09/2026

📉 Waiting for Cheaper Borrowing? You May Need to Rethink Your Plans

The Bank of England held interest rates at 3.75% in September — but three members of the Monetary Policy Committee actually voted to raise them to 4%.

Why? Inflation is above target, and rising energy costs are adding further pressure. If this feeds through into wages and prices, rates could stay higher for longer.

So what should businesses do?

Rather than trying to predict the Bank's next move, the smarter approach is to make sure your borrowing and investment plans still work under a range of interest rate scenarios.

💡 Try this: Build three forecasts for any major investment or finance decision:
1️⃣ Rates stay broadly the same
2️⃣ Rates rise modestly
3️⃣ Rates eventually fall

This can significantly change the picture. A project that looks affordable if rates fall might leave very little breathing room if they don't. Meanwhile, an investment that still stacks up under higher rates could be worth pursuing now, rather than waiting indefinitely for cheaper borrowing.

🔍 Don't forget existing borrowing:
✅ Fixed-rate loans nearing renewal — know what refinancing could cost
✅ Variable-rate borrowing and overdrafts — keep an eye on rising costs eating into profit and cash flow

The bottom line: Don't base decisions on hopes of lower rates. Stress-test your plans instead — knowing how your business copes if borrowing stays expensive gives you a much stronger foundation for decision-making.

💬 Want help reviewing your borrowing or investment plans against different rate scenarios? Get in touch with our team — we're happy to talk it through.

📞 0800 026 0854 | 🌐 bjca.co.uk

Address

Hitchin

Opening Hours

Monday	8:30am - 5pm
Tuesday	8:30am - 5pm
Wednesday	8:30am - 5pm
Thursday	8:30am - 5pm
Friday	8:30am - 1pm

Telephone

0800 026 0854

Website

http://www.bjca.co.uk/

Alerts

Be the first to know and let us send you an email when Bradshaw Johnson Chartered Accountants posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Bradshaw Johnson Chartered Accountants:

Want your business to be the top-listed accountant in Hitchin?