FMY Chartered Accountants

MTD for ITSA is live.

If you're a sole trader or landlord with income over £50,000, HMRC now wants a digital tax update from you every three months. Four updates a year. Plus a Final Declaration. Five submissions where there used to be one.

Your first one is due 7 August 2026. That feels far away. It isn't.
Most people we're speaking to:

- Haven't signed up with HMRC for MTD
- Aren't using compatible software
- Are still keeping records on spreadsheets or paper
- Assume their accountant has it handled (often, no one's been told to)

What to do this week:
1. Get on Xero or another HMRC-recognised system
2. Connect your bank feeds
3. Sign up for MTD ITSA (separate from your existing Self Assessment)
4. Categorise April and May transactions now

Yes, there's a soft landing for year one. No, it doesn't cover late payment or the Final Declaration. And from April 2027 the threshold drops to £30,000 and the penalty points kick in properly.

The habit you build over the next ten weeks decides whether next year is smooth or expensive.

Need help getting set up? Send us a message.

📅 Book a discovery call: https://calendly.com/fmyaccountants
🌐 fmyaccountants.co.uk
📧 [email protected]
☎️ 0330 043 5088

Your 31 March year-end just passed.

And if you're planning to start on your accounts in November, you're already losing money.

Here's the truth most accountants won't tell you:

❌ Tax planning windows close faster than you think
❌ Dividend decisions can't be unwound after year-end
❌ Bookkeeping gaps multiply the longer they sit
❌ Every decent firm is flat out in December

The companies that save the most tax and file without drama are the ones that start in April.

Not November.

At FMY, we take a partner-led, proactive approach.

✅ Fixed fees
✅ No surprises
✅ No December scramble

Let's get your year-end right from day one.

📞 +44 330 043 5088 📧 [email protected] 🌐 fmyaccountants.co.uk

Your bookkeeper records the past.

Your Virtual CFO shapes the future.

There is a big difference.

A bookkeeper keeps your records tidy. Transactions coded. VAT filed. Bank reconciled.

All essential. But none of it tells you:

→ Why your cash is tight even though you made a profit
→ Whether you can afford that next hire
→ How to structure your income to pay less tax
→ What your business is actually worth

That is where we come in.

At FMY, our Virtual Finance Office gives you Big 4-trained, FTSE-experienced finance expertise, without the six-figure salary.

Strategic thinking. Real numbers. Plain English.

If your finance function is just keeping up with yesterday, it is time to talk.

📩 [email protected] 🌐 www.fmyaccountants.co.uk

Got your P60? Don't just file it away.

Here's what to check before you do 👇

If you're an employee:
✅ Is your tax code correct?
✅ Does total pay match your payslips?
✅ Are your NI contributions right? (They affect your State Pension)
✅ Student loan deductions are regularly over-deducted

If you run payroll:
⚠️ Wrong P60 figures can trigger HMRC enquiries
⚠️ Errors damage employee trust
⚠️ Mid-year corrections need to show up correctly. Check them.

A P60 is a legal document. Mistakes have real consequences.

Not sure yours is right? We'll take a look.
📩 [email protected] 🌐 www.fmyaccountants.co.uk

New tax year. 6 days away. Here is what is actually changing.

💸 Dividend tax is going up. Basic rate rises from 8.75% to 10.75%. Higher rate from 33.75% to 35.75%. If you run a limited company and pay yourself in dividends, this hits your take-home directly.

📲 Making Tax Digital starts. Earn over £50,000 from self-employment or property? Quarterly digital submissions to HMRC are now mandatory from 6 April. The annual tax return alone is no longer enough.

🧊 Thresholds are still frozen. Personal Allowance stays at £12,570. Higher rate threshold stays at £50,270. Wages go up. Bands stay the same. You pay more tax without rates changing. That is the point.

🏡 Business Property Relief is being capped. The unlimited IHT relief on business and agricultural assets is over. From 6 April, 100% relief is capped at £1 million. Above that, 50% relief only.

If any of this affects you, get advice before 5 April, not after.

🔗 www.fmyaccountants.co.uk

The world feels unstable right now.

Wars. Tariffs. Rising costs. Interest rates on hold.

You can't control any of that.

But you can control your financial position.

That's where we come in.

At FMY, we give growing businesses the CFO-level thinking they need to stay ahead, without the Big 4 price tag.

When everything outside is uncertain, your finances should be the one thing that isn't.

📩 [email protected] 🌐 www.fmyaccountants.co.uk

Setting up a UK company from abroad? Here is what you actually need to do.

Step 1 - Choose your structure
A private limited company (Ltd) is almost always the right call.

Step 2 - Get a UK registered office
Required by law. A PO box will not cut it.

Step 3 - Verify your identity (ACSP)
Mandatory since 18 November 2025. Overseas directors cannot use the standard digital route and must go through an Authorised Corporate Service Provider. You cannot skip this.

Step 4 - Incorporate with Companies House
Once verified, registration is quick. Get the details right first time.

Step 5 - Register for Corporation Tax
Within 3 months of trading. Non-negotiable.

Step 6 - Stay compliant
Annual accounts. Confirmation Statements. Tax returns. All have deadlines.

We handle all of this at FMY, including the identity verification step that most people do not know they need.

Link in bio to book a free call.

Most contractors, and the businesses hiring them, get IR35 wrong before the contract is even signed.

Here's what HMRC actually looks at:
❌ It's not just what your contract says
✅ It's how you actually work day-to-day

Three things that can catch you out:
1. Control Does the client dictate your hours, location, and how you do the work? That points inside IR35, regardless of what the contract says.
2. Substitution Can you genuinely send someone else to do the job? If the client would say no, that's a problem.
3. Mutuality of obligation Is there an expectation of ongoing work and an expectation you'll accept it? That looks like employment.

Getting this wrong costs contractors thousands. Getting it wrong as a business hiring contractors? HMRC can come after you for the tax.

A proper IR35 assessment is a small investment of time. The fallout from getting it wrong can take years to sort out.

📩 DM us or book a free consultation via the link in bio.

Tax return season is over. 😮‍💨

But if yours was a last-minute panic - digging out receipts, chasing bank statements, hoping for the best - let's make sure it doesn't happen again.

The businesses and individuals who breeze through self-assessment every year aren't lucky. They just have the right support in place.

Here's what that looks like with FMY:
✅ Fixed, transparent fees - no surprise bills
✅ A qualified chartered accountant who knows your situation
✅ Proactive reminders and planning throughout the year
✅ Expenses and reliefs you're actually entitled to - claimed correctly

Whether you're self-employed, a landlord, a contractor, or a company director - we'll sort your 2025/26 return properly, without the stress.

📅 Book a free 45-minute consultation: https://calendly.com/fmy-chartered-accountants/45min 🌐 www.fmyaccountants.co.uk 📞 +44 330 043 5088

Did you know that in the UK, there's no legal requirement for someone to hold any qualifications before calling themselves an accountant?

That means your books, your tax returns, and your financial decisions could be in the hands of someone with zero professional oversight.

ICAEW regulation exists to change that. Firms like FMY that carry ICAEW registration are subject to:

✅ Regular quality inspections
✅ Mandatory continuing professional development
✅ Strict ethical standards
✅ Professional indemnity insurance
✅ Independent monitoring of our work

It's not just a badge. It's your protection.

If you're a business owner or individual who wants the reassurance of working with a properly regulated firm - we'd love to hear from you.

📩 [email protected] | 📞 +44 330 043 5088 | 🌐 www.fmyaccountants.co.uk