My Tax Accountant

Rent-a-Room £7,500 Allowance — Method A vs Method B explained for UK taxpayers in 2026.

In this video, MTA explains how the UK Rent-a-Room Relief scheme works and how to decide between the two available tax methods when renting furnished accommodation in your main home.

We cover:
• How the £7,500 Rent-a-Room allowance operates
• Method A automatic tax exemption rules
• Method B profit calculation using actual expenses
• When electing out of the allowance may be beneficial
• Shared ownership and joint income considerations
• HMRC reporting requirements for Self Assessment
• Common compliance mistakes landlords and homeowners make

This video applies to:
• Homeowners renting spare rooms
• Lodger arrangements in the UK
• Airbnb-style room rentals within a main residence
• Joint property owners sharing rental income
• Taxpayers preparing 2025/26 and 2026/27 tax returns

Practical guidance is included to help you compare tax outcomes, maintain accurate records, and understand when each method may produce a better result.

HMRC rules can vary depending on property use, furnishing status, income levels, and whether the accommodation qualifies under Rent-a-Room Relief. Incorrect reporting may lead to tax adjustments or compliance issues.

For professional assistance:

Phone: 0208 5708531
Email: [email protected]
Website: www.mytaxaccountant.co.uk

Disclaimer: General UK tax guidance only; not personalised advice.

Cash Basis vs Accruals for Small Landlords Under £150k Income in the UK (2026 guide).

In this video, MTA explains how the UK cash basis rules work for landlords with property income below £150,000 and when the accruals method may still be more suitable.

We cover:
• What cash basis accounting means for UK rental income
• How accruals accounting works for landlords
• Key differences in timing of income and expenses
• Mortgage interest and finance cost considerations
• Situations where accruals may provide clearer reporting
• HMRC compliance expectations for property records
• Common mistakes landlords make under both methods

This video applies to:
• Individual UK landlords
• Buy-to-let property owners
• New landlords starting rental businesses
• Small landlords below the £150k threshold
• Landlords preparing Self Assessment tax returns for 2025/26 and 2026/27

Practical guidance is included to help landlords understand bookkeeping, record keeping, and choosing the most appropriate accounting basis for their circumstances.

HMRC rules can vary depending on property structure, partnership arrangements, overseas income, and business complexity. Choosing the wrong accounting method may affect tax timing, reporting accuracy, and compliance.

For professional assistance:

Phone: 0208 5708531
Email: [email protected]
Website: www.mytaxaccountant.co.uk

Disclaimer: General UK tax guidance only; not personalised advice.

Profit splitting between spouses can offer legitimate tax planning opportunities, but HMRC expects partnership arrangements to reflect genuine commercial reality in 2026.

In UK spouse partnerships, profits are usually divided according to the partnership agreement. However, HMRC may review arrangements where profit shares appear artificial or inconsistent with each partner’s actual involvement in the business.

This is particularly relevant for:
• Married couples running family businesses
• Spouse partnerships and sole traders involving partners
• Small business owners seeking tax-efficient structures

From a practical perspective, you should:
• Maintain a clear partnership agreement
• Ensure profit shares reflect actual business activity
• Keep records of work performed and capital contributed
• Report partnership income accurately to HMRC

There are important compliance considerations:
• Artificial arrangements may attract HMRC scrutiny
• Incorrect allocations can trigger tax adjustments and penalties
• Partnership records should support the agreed profit split
• Changes in ownership or involvement should be documented properly

Understanding HMRC expectations helps businesses structure spouse partnerships more effectively while remaining compliant.

For personalised guidance, contact MTA:

Phone: 0208 5708531
Email: [email protected]

Website: www.mytaxaccountant.co.uk

Disclaimer: General UK tax guidance only; not personalised advice.

Pre-trading expenses may be claimable for UK tax purposes if they were incurred before your business officially started and meet HMRC conditions in 2026.

HMRC allows certain business costs incurred before trading begins to be treated as if they were made on the first day of trading. In many cases, qualifying expenses from up to 7 years before trading may be eligible, provided they relate wholly and exclusively to the business.

This is particularly relevant for:
• New sole traders and limited companies
• Start-ups with setup and research costs
• Individuals launching side businesses in the UK

From a practical perspective, you should:
• Keep invoices and receipts for all early business costs
• Identify expenses directly connected to future trading
• Separate personal and business-related spending
• Include qualifying costs correctly in accounts and tax returns

There are important compliance considerations:
• Not all early costs qualify for relief
• Capital and revenue expenses are treated differently
• HMRC may request supporting evidence during checks
• Incorrect claims can lead to adjustments or penalties

For personalised guidance, contact MTA:

Phone: 0208 5708531
Email: [email protected]

Website: www.mytaxaccountant.co.uk

Disclaimer: General UK tax guidance only; not personalised advice.

UK taxpayer holding AIM shares for inheritance tax planning? The rules changed in April 2026, and the shelter isn't what it used to be. This video shows what's left, what's gone, and whether AIM still belongs in your estate plan.
What you'll learn:

Exactly how the new 50% Business Relief rate affects your AIM holdings
The effective inheritance tax rate on AIM shares after April 2026
When AIM still beats gifting, trusts, and life insurance for IHT planning
The two-year holding rule and how to avoid losing relief by accident

Inheritance tax planning is personal, and AIM shares aren't right for everyone. If you'd like a clear view of how these changes affect your estate, our team at My Tax Accountant is happy to walk you through it. We help UK investors and families plan tax-smart estates every day.

Phone: 0208 5708531
Email: [email protected]
Website: www.mytaxaccountant.co.uk

Disclaimer: This video is for general information only and does not constitute professional, legal, or financial advice. UK tax rules and HMRC guidance can change, and individual circumstances vary. My Tax Accountant accepts no liability for any action taken or not taken on the basis of this content. Always seek personal professional advice before making any tax or financial decision.

Selling a UK family business after April 2026? The Business Asset Disposal Relief rate has changed, and getting the timing wrong could cost you tens of thousands. This video breaks down what's different, what still works, and how to plan a tax-smart exit.
What you'll learn:

Exactly how much Capital Gains Tax you'll pay under the new April 2026 rates
How to qualify for the £1 million Business Asset Disposal Relief lifetime allowance
When staggering a sale across tax years actually saves money (and when it doesn't)
The three planning steps to take at least 24 months before you sell

Every family business sale is different, and the right strategy depends on your shareholding, family involvement, and long-term goals. If you'd like a clear answer for your situation, our team at My Tax Accountant is happy to talk it through. We work with UK family business owners every day and can help you plan an exit that keeps more money in your pocket.

Phone: 0208 5708531
Email: [email protected]
Website: www.mytaxaccountant.co.uk

Disclaimer: This video is for general information only and does not constitute professional, legal, or financial advice. UK tax rules and HMRC guidance can change, and individual circumstances vary. My Tax Accountant accepts no liability for any action taken or not taken on the basis of this content. Always seek personal professional advice before making any tax or financial decision.