Monton Green Accountancy Ltd

Got a P800 from HMRC? It might not be as straightforward as it seems. Double-check your tax details to avoid surprises. Curious? Read on to find out why it matters.

Received a P800 from HMRC? HMRC is currently carrying out its annual reconciliation of PAYE for the 2025-26 tax year. Between June and November, HMRC calculates the Income Tax paid by individuals and checks whether the correct amount has been collected. Where HMRC identifies a difference, it may issue a tax calculation let

Missed your tax deadline? You might have a reasonable excuse that could save you from penalties. Serious illness, bereavement, or unexpected tech failures could count. Find out how acting quickly helps and when to appeal. Read on to see if you qualify.

What is a reasonable excuse for missing a tax deadline? Missing a tax deadline can result in penalties from HMRC, but a taxpayer may be able to appeal if they have a genuine reasonable excuse. Whether an excuse is accepted depends on the individual facts and whether the taxpayer took action to put things right without unnecessary delay. HMRC d

VAT registration just got a lot more interesting! Did you know you might reclaim VAT on some costs from before you were even registered? It could mean reclaiming VAT on goods bought up to four years prior and services up to six months earlier, but only if they're linked to your current business. Intrigued? Find out why this could impact your next VAT return and what special rules might affect you.

Recovering VAT on pre-registration costs Businesses that register for VAT may be able to reclaim VAT paid on certain goods and services purchased before VAT registration.  There are specific time limits for claiming pre-registration VAT. VAT on goods can generally be reclaimed where the goods are still held by the business

Tax relief can multiply your pension pot, employer contributions and smart pay options add up to more pension income for your future. Curious how it works? Find out why it matters now.

Tax relief on pension contributions for employees Receiving tax relief on pension contributions into a workplace pension is a great way to help prepare for retirement. In addition, contributions from your employer can make the pension savings even greater.  If you are automatical

Alert for landlords and property owners: Did you know you might not need to report small rental incomes thanks to a £1,000 allowance? Whether you rent out a driveway or a room, this could simplify your tax returns. Find out why this could matter to you today!

Making the most of the £1,000 property allowance The £1,000 property allowance is a helpful for individuals with small amounts of property income. The allowance provides a tax exemption of up to £1,000 a year against gross property income, meaning some landlords may not need to report their income to HMRC. The allowance appl

Alert for sole traders and partnerships: Cash basis accounting could change how you manage your tax and cash flow. Curious how it works for you? Read on to discover the details that matter.

Is your business eligible to use cash basis accounting? Cash basis accounting is a simplified method used by sole traders and other unincorporated businesses to work out income and expenses for self-assessment in a straightforward manner.  The cash basis is the default method for calculating income and expenses for self-employed individua

Stamp Duty Land Tax (and associated regional costs) could add a big cost when you buy property. Wondering when it applies and how much? Find out why it matters before you sign anything. Read on to avoid surprises with your next purchase.

When do you pay Stamp Duty Land Tax? Stamp Duty Land Tax (SDLT) is a tax that may apply when you buy land or property in England or Northern Ireland. It is important to check whether SDLT applies before completing a purchase, as the tax can represent a significant additional cost. SDLT can apply when you buy a freehold prope

Alert: Spotted a slip-up on your tax return? You could still fix it – and it might change what you owe or get back. Find out why it pays to act now and how easy it can be to update your details online or by post. Read on to avoid missing out on possible refunds or overpaying tax.

Amending a mistake on your tax return What happens if you discover a mistake on your tax return? The good news is that errors can usually be corrected, but it is important to take action as soon as possible to avoid paying the wrong amount of tax or missing out on a possible refund. If you realise that you have made an error

Alert for anyone dealing with inheritance: Did you know a Deed of Variation could reshuffle who gets what and even ease the tax load? It's not just about changing names on paper, but about reshaping legacies fairly and smartly. Talk it through with your family and find out why timing and agreement matter. Curious how it works? Read on to explore this crucial option.

Could you save tax by making a Deed of Variation? After someone dies, the beneficiaries may find that the way an estate has been distributed does not reflect their wishes or the family’s circumstances. A Deed of Variation can allow beneficiaries to change how inherited assets are passed on and, in some cases, can help reduce the amount of

Alert for every tradesperson and DIY trader: You might be missing out on tax relief when replacing or repairing your essential work tools and clothing. Find out why it matters and how to claim. Read on to see if you qualify.

Tax relief if replacing tools or equipment If you pay for replacing or repairing small tools you need for your job, you may be able to claim tax relief from HMRC. Eligible tools include items such as scissors, small hand tools and electric drills that are essential for carrying out your work and are not provided by your employer.