Ireland and Company Accountants

Our Business Breakfast Networking event will be back at 9am on 17th September at Kibworth Golf Club.

It is for all businesses large and small. It is a great, informal, relaxed group.

We have good food, a lovely chat and a short talk, this month we are expecting Steven Glanville from CBA Business Solutions.

Book ASAP through [email protected] or call 0116 279 3704.

Look forward to seeing you there!

If you are going to college or university in September and live in Leicestershire or Rutland this grant could be for you

This could help If you:
Are studying at University, college or an apprenticeship.
Live in Leicestershire or Rutland
Face financial hardship

A comfortable retirement:
A recent report published by Pensions UK revealed that three quarters of UK workers are not on course to save enough for a 'moderate' lifestyle when they retire. The report says a moderate lifestyle will cost £32,700 for one person and £45,400 for two - but estimated just 23% of the working population were on course to reach such a level. Here, we consider how individuals can ensure they save enough for a comfortable retirement.

https://www.irelandandcompany.co.uk/news/hot-topic

Looking for a loan for your business but not in a position to repay straight away?

Listen up 📣 Our Interest-Free Business Loans require no repayments in the first 𝗧𝗛𝗥𝗘𝗘 𝗬𝗘𝗔𝗥𝗦!

Visit our website to apply today ⬇️

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See link for full story:

https://www.irelandandcompany.co.uk/news/latest-news-for-business/archive/news-article/2026/July/hospitality-sector-calls-for-10-vat-rate

MTD FOR INCOME TAX: 7 AUGUST DEADLINE IS NEAR

Making Tax Digital (MTD) for Income Tax is now live. Most self-employed individuals and landlords who had turnover above £50,000 in 2024/25 were mandated into the regime from 6 April 2026.

Under MTD, you must keep digital records and submit updates to HMRC every quarter using compatible software. This is a significant change from the old system, where most reporting took place after the end of the tax year.

The first quarterly update for 2026/27 is due by 7 August 2026.

This deadline is approaching quickly, and it is important that records are complete and up to date well before then.

If we maintain your bookkeeping or prepare your submissions, you will need to send us your records in good time. Leaving this until the last minute creates unnecessary risk and may lead to delays or errors.

If you are unsure what information we need, or whether MTD applies to you, please get in touch as soon as possible.

Helpful factsheet for the self-employed:

https://www.irelandandcompany.co.uk/factsheets/corporate-and-business-tax/homeworking-costs-for-the-self-employed

You may ask why we are talking about this on a bright sunny day; but not all employers hold annual parties at Christmas.

The Association of Taxation Technicians (ATT) has called for the Government not to be a “Scrooge” and extend the tax exemption for social events.

The current exemption allows up to £150 in total per head (including VAT) to be spent each tax year on annual staff functions without incurring a tax liability. The £150 limit has been unchanged since 2003 and covers the total of all events open to staff during the tax year – reducing the amount available for the Christmas party if there have been other events during the year. Exceeding the exemption by just £1 means that it is lost in full.

But research shows many firms are now exceeding the exemption, spending up to £170 per person for their festive gatherings.

Taxpayers who had combined gross income from sole trades and property businesses of more than £50,000 for 2024/25 must use MTD for Income Tax from April 2026.

More taxpayers will be required to use MTD from April 2027 and April 2028.

https://www.irelandandcompany.co.uk/news/latest-news-for-business/archive/news-article/2026/June/icaew-encourages-taxpayers-to-sign-up-to-making-tax-digital