Matplus Chartered Accountants

🏗️ FRIDAY TAX TIP | CONSTRUCTION BUSINESSES: GET CIS RIGHT

Paying subcontractors? CIS is more than simply deducting 20%.

Before making payments, contractors should verify subcontractors with HMRC and use the deduction rate HMRC provides normally 20% for registered subcontractors, 30% where they cannot be verified, or 0% for those with Gross Payment Status.

When calculating the deduction, certain amounts are excluded first, including VAT, qualifying materials paid for directly by the subcontractor, certain plant hire, consumable stores and manufacturing/prefabrication costs.

📅 Key deadlines: File the CIS monthly return by the 19th following the tax month and pay deductions to HMRC by the 22nd electronically (19th by post).

Also keep verification records and provide subcontractors with their payment and deduction statements on time.

Getting CIS wrong can mean incorrect deductions, penalties, interest and unnecessary HMRC problems.

Need help keeping your CIS, payroll and construction accounts compliant? Speak to Matplus Chartered Accountants.

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🚨 This week's UK tax update brings important developments for advisers, landlords, sole traders, property businesses and larger corporate groups.

HMRC has opened the next phase of mandatory tax adviser registration, materially updated its transfer-pricing compliance guidance, and further details have emerged around HMRC-led Making Tax Digital sign-ups.

Landlords should also take note of HMRC compliance letters concerning rental income.

Meanwhile, several potentially significant reforms remain at proposal stage including mandatory Direct Debits for VAT and PAYE, wider VAT responsibilities for online marketplaces, a new direct-tax recklessness offence and a proposed VAT zero rate for social-housing land.

The key distinction this week: some requirements are already live, while others are consultations only.

Swipe through the updates and check whether any affect your tax, property or business position.

🚨 This week in UK tax: what you need to know

From Inheritance Tax and trusts to Making Tax Digital, pensions, Plastic Packaging Tax and Pillar 2, there are several important developments taxpayers, landlords, property investors and businesses should have on their radar.

This week’s key updates include:

🔴 HMRC warning over ‘excepted estate’ IHT mistakes
🔴 More non-UK trusts holding UK property potentially falling within TRS
🔴 CIOT warning that the MTD ‘soft landing’ is not a free pass
🔴 Unused pensions still set to enter the IHT regime from 6 April 2027
🔴 ICAEW concerns over proposed Plastic Packaging Tax certification
🔴 HMRC guidance on Pillar 2 reporting software
🔴 ATT highlighting outdated IHT wedding-gift allowances

Tax rules continue to evolve, and seemingly small changes can have a significant impact on your reporting obligations, estate planning or business compliance.

👉 Swipe through the updates and make sure you know what could affect you.

Need help understanding how any of these changes apply to your circumstances? Speak to a qualified tax adviser before taking action.

📢 Weekly UK Tax Update | 3–9 August 2026

Another week, another round of HMRC changes worth keeping on your radar.

This week’s key developments include a new online document upload service for HMRC compliance checks, proposed changes to the timing of Self Assessment payments, an important Court of Appeal decision involving historic Inheritance Tax planning, further clarification on the temporary 5% VAT rate for children’s activities, and an HMRC campaign focusing on the VAT treatment of paid-entry prize draws.

For businesses, landlords, investors and individuals, the message is simple: keep your records accurate, review your tax position regularly and don’t wait for an HMRC letter before dealing with potential issues.

Some of these are current changes, while others are proposals or professional commentary, so the right action will depend on your circumstances.

Need help understanding how a tax update affects you? Speak to Matplus Chartered Accountants.

Stay informed. Stay compliant. Plan ahead.

🏡 A new monthly tax series for landlords and property investors is here.

We’re pleased to announce our new partnership with YPN Plus (Your Property Network), bringing you Tax Monday with Matplus on the second Monday of every month.

For our first session, Arif Punjani from Matplus Chartered Accountants will be discussing:

📌 Making Tax Digital for Income Tax that Everything Landlords Need to Know

With major changes to the way landlords report income to HMRC, this practical webinar will explain the new rules abot MTD thresholds, quarterly submissions, exemptions and what property investors need to do to prepare.

📅 Monday, 10 August 2026
🕛 12:00 PM
🎤 Host: Alex Daley
👤 Guest: Arif Punjani
🎟️ FREE Live Webinar

Whether you own one rental property or manage a growing portfolio, join us to understand what’s changing and how to prepare.

👉 Reserve your place today.

Send us a DM and i will share the link to you !!!

📢 Weekly UK Tax Update: 27 July–2 August 2026

This week brought an important VAT change for property expenditure, new information about HMRC’s Making Tax Digital letters and confirmation that around 1.8 million Simple Assessment letters will be issued.

The second Self Assessment payment on account deadline also fell on 31 July, while the government confirmed that the Autumn Budget will take place on 28 October 2026.

Key points:

✅ VAT Capital Goods Scheme property threshold increased to £600,000
✅ Computers removed from the scheme
✅ HMRC preparing MTD letters for taxpayers above £30,000
✅ Simple Assessment letters being issued
✅ Autumn Budget scheduled for 28 October

Received an HMRC letter or missed a payment deadline? Speak to Matplus before a small issue grows expensive.

It was a fantastic evening at the FSB Connect Camden Women in Business Networking Event, kindly hosted by Metro Bank at their Holborn headquarters.

A huge thank you to everyone who attended, shared their stories, and contributed to such an inspiring atmosphere. It was wonderful to connect with so many ambitious women entrepreneurs, business owners, and self-employed professionals who are passionate about growing their businesses and supporting one another.

Special thanks to Metro Bank for sponsoring the event and sharing valuable insights into how they support SMEs at every stage of their business journey. Hopefully everyone enjoyed hearing about the MPowerHer programme from MATPLUS Chartered Accountants, empowering women to become financially independent, alongside the latest small business offers and updates from the FSB (The Federation of Small Businesses).

Events like these remind us of the power of collaboration, networking, and community. We look forward to seeing everyone again at the next Women in Business Networking Event!

Great day at the which brought together many SMEs to share and gain knowledge from each other!