ABM Chartered Accountants

💼 Are You Accounting for Conditional Fee Arrangements Correctly?

Conditional Fee Arrangements (CFAs) can have a significant impact on your firm's tax position and financial reporting. While success fees may only become payable when specific conditions are met, their accounting and tax treatment must follow the correct rules.

Incorrectly recognising CFA income or expenses can inflate taxable profits, lead to inaccurate accounts, and increase the risk of HMRC enquiries.

At ABM Chartered Accountants, we help law firms and professional practices ensure their Conditional Fee Arrangements are accounted for correctly, giving you confidence in your financial statements and tax compliance.

Our specialists can help you:
✔ Apply the correct tax treatment for success fees
✔ Avoid overstating taxable profits
✔ Maintain accurate financial reporting
✔ Stay compliant with HMRC requirements

Don't let accounting errors create unnecessary tax liabilities.

Contact us today for expert advice on Conditional Fee Arrangement accounting and tax treatment.
📞 https://wa.me/447718277546
📧 [email protected]
🌐 https://abmcharteredaccountants.com/sectors/solicitors/

🏥 GP Practice Leasing? Don't Overlook the Accounting Impact.

If your practice occupies premises under an NHSPS lease, the accounting treatment may be more complex than it appears.

Under IFRS 16, lease arrangements can create right-of-use assets and lease liabilities, directly affecting your balance sheet, tax position, financial ratios, and year-end accounts. Misinterpreting lease terms can lead to inaccurate financial reporting and unexpected tax consequences.

At ABM Chartered Accountants, we help GP practices understand the financial implications of NHSPS leases, ensure IFRS 16 compliance, and provide clear, practical advice tailored to the healthcare sector.

✅ Review your lease terms
✅ Assess balance sheet impact
✅ Understand tax implications
✅ Stay compliant with confidence

Don't wait until year-end to identify costly issues.

Contact ABM Chartered Accountants today to arrange your Balance Sheet Review and ensure your GP practice is on the right track.
📞 https://wa.me/447718277546
📧 [email protected]
🌐 https://abmcharteredaccountants.com/sectors/dentists/

📊 Locum work and IR35 status can have a significant impact on your tax position.

If your NHS locum engagement falls inside IR35, tax is usually deducted at source. If you're working outside IR35, you'll need strong contracts and working practices to support that status.

A review today can help prevent costly surprises tomorrow.

✅ Understand your IR35 position
✅ Reduce compliance risks
✅ Ensure your contracts are fit for purpose

Get clarity before HMRC asks questions.
📞 https://wa.me/447718277546
📧 [email protected]
🌐 https://abmdigitalaccountants.com/sectors/nhs-pension/

🦷 Are your dentist associate agreements still fit for purpose?

Recent employment status rulings have increased scrutiny of self-employed arrangements in the dental sector. A poorly drafted agreement could expose practices and associates to unexpected tax and employment risks.

Review your contracts today to protect your practice, maintain compliance, and reduce future liabilities.

📞 Speak to ABM Chartered Accountants for expert guidance.
📞 https://wa.me/447718277546
📧 [email protected]
🌐 https://abmcharteredaccountants.com/sectors/dentists/

⏳ The businesses that prepare early are the ones that save time, money, and stress.

With Making Tax Digital (MTD) requirements approaching, leaving your transition until the last minute can lead to rushed decisions, software issues, and unnecessary costs.

✅ Early planning
✅ Smooth implementation
✅ Better compliance
✅ Fewer surprises

The sooner you prepare, the easier your MTD journey will be.
📞 https://wa.me/447718277546
📧 [email protected]
🌐 https://abmcharteredaccountants.com/services/vat/making-tax-digital/

📊 Basis Period Reform isn’t over yet.

Many sole traders and partnerships are still dealing with transitional profits created during the move to the tax-year basis. While these overlapping profits are being spread across multiple tax years, important elections and planning opportunities may still be available.

Key considerations:
✅ Review any transitional profit amounts included in your tax calculations
✅ Check whether overlap relief has been applied correctly
✅ Understand how future tax liabilities may be affected
✅ Assess whether any available elections could improve your position

Taking the time to review your basis period transition now can help avoid unexpected tax bills and support better financial planning in the years ahead.

Don't leave transitional profit calculations unchecked, small errors today can lead to significant tax consequences later.
📞 https://wa.me/447718277546
📧 [email protected]
🌐 https://abmcharteredaccountants.com/services/vat/making-tax-digital/

📢 Making Tax Digital (MTD) is changing the way many taxpayers report to HMRC.

Instead of submitting information once a year, eligible taxpayers will be required to provide quarterly updates of their income and expenses. That means 4 submissions every year, helping maintain more up-to-date records and giving businesses greater visibility over their tax position.

For many business owners and self-employed professionals, this means:
✅ More frequent reporting obligations
✅ Digital record-keeping requirements
✅ New submission deadlines to manage
✅ Greater importance of accurate bookkeeping throughout the year

The good news? You don't have to handle it alone.

At ABM Chartered Accountants, we help clients prepare for MTD, maintain compliant digital records, and ensure all quarterly submissions are completed accurately and on time.

Don't wait until the deadline approaches. Start preparing now and make the transition to smooth and stress-free.

Contact our team today to discuss how MTD will affect you and how we can help.
📞 https://wa.me/447718277546
📧 [email protected]
🌐 https://abmcharteredaccountants.com/services/vat/making-tax-digital/

📊 Transfer Pricing isn't just for large corporations.

If your business has transactions with connected companies, HMRC may expect those arrangements to follow the arm’s length principle.

Many SMEs assume they are automatically exempt, but the SME transfer pricing exemption comes with specific conditions and exceptions.

✅ Review your inter-company transactions
✅ Understand the exemption rules
✅ Stay compliant and avoid unexpected tax challenges

Need guidance on transfer pricing obligations? Our team can help you assess your position and ensure compliance.
📞 https://wa.me/447718277546
📧 [email protected]
🌐 https://abmcharteredaccountants.com/services/corporate-tax/transfer-pricing/

💷 Earning Over £50,000? It's Time to Prepare for MTD for Income Tax

Making Tax Digital (MTD) for Income Tax is approaching, and individuals with qualifying income over £50,000 will be required to comply from April 2027.

The transition to digital record-keeping and quarterly reporting may seem distant, but early preparation can make implementation much smoother.

✅ Review your current record-keeping processes
✅ Understand your MTD obligations
✅ Ensure your software is compliant
✅ Avoid last-minute disruption and stress

At ABM Chartered Accountants, we're already helping clients prepare for the upcoming changes so they can stay compliant and confident.

📅 Don't wait until the deadline is around the corner. Start planning today.
📞 https://wa.me/447718277546
📧 [email protected]
🌐 https://abmcharteredaccountants.com/services/vat/making-tax-digital/

🧪 Is your MTD software really ready for ITSA?

With mandatory Making Tax Digital for Income Tax Self Assessment just 10 months away, software failure is not an option.

It must be able to handle:
📊 Multiple income streams
⚡ High-volume, simultaneous data processing
📥 Continuous submissions without errors
🔄 Real-world stress beyond basic testing conditions

Most systems work fine in theory, but break under pressure.

That’s why stress testing is critical now, not later.

Don’t wait for compliance deadlines to expose system weaknesses.

✔ Test early
✔ Identify bottlenecks
✔ Ensure full MTD readiness

👉 Build systems that survive real demand, not just ideal conditions.
📞 https://wa.me/447718277546
📧 [email protected]
🌐 https://abmcharteredaccountants.com/services/vat/making-tax-digital/