Dunhams Accountants & Financial Planning

Old IHT forms will be rejected
Read the full article:- https://dunhamsaccountants.co.uk/2026/old-iht-forms-will-be-rejected/

HMRC has stopped processing old versions of the Inheritance Tax IHT100 forms from 31 August 2026. Anyone reporting an IHT chargeable event involving a gift or trust will need to make sure they are using the correct forms. What do you need to know?

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HMRC confirmed in Agent Update 144 that any previous versions submitted after 31 August will not be accepted. The form will have to be resubmitted using the correct version, potentially delaying the reporting and payment process.
Manchester Accountants - Old IHT forms will be rejected

The IHT100 is now a collection of separate forms for different types of chargeable event, rather than a single form. HMRC’s current IHT100 guidance explains which of the IHT100a to IHT100h forms should be used depending on the event being reported.

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Unused sales suppression tools can still trigger penalties
Read the full article:- https://dunhamsaccountants.co.uk/2026/unused-sales-suppression-tools-can-still-trigger-penalties/

HMRC has published a new compliance factsheet explaining the penalties that can apply where a business possesses an electronic sales suppression (ESS) tool, even if it has never actually been used to suppress a sale. What do you need to know?

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The new compliance factsheet explains that ESS broadly involves software, hardware or other tools capable of hiding or reducing transactions recorded by an electronic till or point-of-sale system. HMRC says that “possession” is not limited to owning such a tool. It can also include having access to it, or attempting to access it.

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MONTHLY FOCUS: TAX CONSIDERATIONS FOR BUY-TO-LET PROPERTY
Read the full article:- https://dunhamsaccountants.co.uk/2026/monthly-focus-tax-considerations-for-buy-to-let-property/

Running a letting business is a very popular option. However,
there have been a number of changes over the way that profits from property businesses are taxed in recent years. In this month's focus, we consider the tax considerations you need to keep in mind when buying property to let, and look at how the rental profits are calculated for tax purposes.

Page content:-
TAX IMPLICATIONS WHEN BUYING PROPERTY

CALCULATING THE TAXABLE PROFIT

RELIEF FOR MORTGAGE INTEREST AND OTHER COSTS OF FINANCING

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Treatment of distributions under review
Read the full article:- https://dunhamsaccountants.co.uk/2026/treatment-of-distributions-under-review/


The government has launched a consultation on modernising
the tax treatment of distributions and repayments of
capital by companies. The proposals could affect the
distinction between dividends taxed as income and
capital payments subject to CGT.
What changes are being considered?

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The current rules determine whether value extracted
from a company is treated as an income distribution
or a repayment of capital. This distinction can make
a significant difference to the tax payable by
shareholders, particularly where a payment qualifies
for CGT treatment rather than being taxed
as dividend income.

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First MTD quarterly deadline arrives
Read the full article:- https://dunhamsaccountants.co.uk/2026/first-mtd-quarterly-deadline-arrives/

DUNHAMS Manchester Accountants - First MTD quarterly deadline arrives
The first quarterly reporting deadline under Making Tax Digital for Income Tax (MTD IT) is 7 August 2026. HMRC has now confirmed what will happen to those who miss it, including when it will start sending reminder letters. What do you need to know?

Those who joined MTD IT from April 2026 and use standard quarterly reporting must submit their first quarterly update by 7 August. The submission covers the first quarter of the 2026/27 tax year and is made through compatible software.

HMRC’s latest software developer newsletter confirms that taxpayers who miss the deadline will receive a reminder letter, although these will not start to arrive until October 2026. Those who have opted for digital communications may also receive up to two reminder messages through HMRC’s online services.

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HMRC targets landlords using third-party data
Read the full article:- https://dunhamsaccountants.co.uk/2026/hmrc-targets-landlords-using-third-party-data/

HMRC has confirmed that it is using information received from third parties to identify landlords who may not have declared all of their rental income. The latest compliance campaign highlights the department’s increasing use of data matching to tackle errors and omissions. What should landlords do?

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According to HMRC, information obtained from a range of third-party sources is being used to identify landlords whose tax returns may not accurately reflect their property income. The data can include details provided by letting agents, local authorities and other organisations, allowing HMRC to compare information against tax returns already submitted.
Manchester Accountants - HMRC targets landlords using third-party data

Where discrepancies are identified, HMRC may write to landlords asking them to review their tax affairs or explain apparent differences. Although these letters do not constitute a formal enquiry, they are often the first step in a wider compliance exercise and should not be ignored.

If you would like any assistance with any of these points.

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Self-employed taxpayers warned over missing Class 2 NI credits
Read the full article:- https://dunhamsaccountants.co.uk/2026/self-employed-taxpayers-warned-over-missing-class-2-ni-credits/

HMRC is warning some self-employed taxpayers to check their National Insurance (NI) records after an issue affecting Class 2 NI credits came to light. The problem could leave some individuals with gaps in their contribution record, potentially affecting their entitlement to the State Pension and other contributory benefits. What should you do?

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From 6 April 2024, most self-employed individuals no longer pay Class 2 NI. Instead, those with profits above the small profits threshold receive Class 2 NI credits automatically, preserving their entitlement to contributory benefits without the need to pay contributions.
DUNHAMS - Self-employed taxpayers warned over missing Class 2 NI credits

HMRC has identified an issue affecting some taxpayers whose records have not been updated correctly. As a result, they may not have received the Class 2 NI credits they were expecting, even though they satisfy the qualifying conditions.

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VAT on electricity to be cut
Read the full article:- https://dunhamsaccountants.co.uk/2026/vat-on-electricity-to-be-cut/

The new Prime Minister has announced a cut to the rate of VAT on electricity from 1 October. What’s the full story?

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Andy Burnham’s first tax policy has been announced. From 1 October to 31 March 2027, VAT will be cut from household electricity bills.
Dunhams - VAT on electricity to be cut

The policy is supposed to help with the cost of living, but in reality, will save an average household just £45.

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MONTHLY FOCUS: PROVIDING FURTHER TAX-FREE BENEFITS TO EMPLOYEES
Read the full article:- https://dunhamsaccountants.co.uk/2026/monthly-focus-providing-further-tax-free-benefits-to-employees/

In this further examination of tax and NI free benefits. Providing benefits that are exempt from income tax is a great way to reward employees in a tax-efficient way. Which benefits qualify for tax-free treatment?

page contents:
Home-to-work travel
Employer-provided equipment and Homeworkers
Incidental overnight expenses
Living accommodation
Long service awards
Medical check-ups and treatment
Meals
Mileage allowance payments and passenger payments

If you would like any assistance with any of these points.

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