TaxAssist Accountants

Receiving a cryptoassets 'nudge' letter from HMRC shouldn’t be ignored.

Our latest article explains why HMRC may have contacted you, what information you should check and the steps to take next.

Read the full article: https://www.taxassist.co.uk/plymouth/resources/articles/received-a-cryptoasset-letter-from-hmrc-here-s-what-it-could-mean

Updated umbrella company rules have changed who may be responsible for unpaid PAYE and National Insurance.

Our latest article explains what has changed, who is affected and what businesses should do now.

Read the full article: https://www.taxassist.co.uk/plymouth/resources/articles/umbrella-company-rules-update

https://www.facebook.com/plympattesting

A big shout out to Plym PAT Testing Limited for servicing both of our offices over the summer and helping us stay safe, compliant, and ready for business.

Thank you for the excellent service!

👀 One step closer to the finished look! 👀

Our new window vinyls are now in place, and we love the fresh, clean feel they've brought to the office.

Up next: brand-new illuminated signage to complete the transformation! ✨

Financial advice is everywhere on social media – but can you trust the person sharing it?

Our latest article explains what finfluencers are, the rules they must follow and why the FCA is cracking down on illegal financial promotions.

Read the full article: https://www.taxassist.co.uk/plymouth/resources/articles/finfluencers-explained-what-they-are-and-why-do-they-matter

👋 Meet the team 👋

You've met the three Bens, now its time to meet Tom! Having joined the company over 8 years ago, Tom plays an important role in supporting our clients. Tom is our Senior Manager and fully qualified chartered accountant, specialising in Capital Gains Tax and Corporation Tax. Toms favourite part of the job is speaking with clients and helping them understand the numbers behind their business so they can make more informed decisions.

Away from the office, Tom enjoys following football, spending time with his family, and playing hockey. ⚽️ 🏑

🥰 We're proud to have Tom as part of our team and appreciate the experience and dedication he brings to our clients every day. 🥰

Thinking of becoming self-employed?

One of the first decisions you'll make is whether to operate as a sole trader. It's a popular choice for many new business owners, but it's important to understand what it means for your tax, responsibilities and finances.

Our latest guide explains everything you need to know to help you decide if becoming a sole trader is right for you.

Read the full guide here: https://www.taxassist.co.uk/plymouth/resources/articles/what-is-a-sole-trader

Do you own or control more than one limited company?

If so, it's important to understand the associated companies rules, as they can affect the rate of Corporation Tax your company pays and whether you're eligible for Marginal Relief.

Our latest article explains what associated companies are, how the rules work and what they could mean for your business.

Read the full guide here: https://www.taxassist.co.uk/plymouth/resources/articles/what-you-need-to-know-about-associated-companies

🥰 Some more great feedback from our clients! 🥰

⭐️⭐️⭐️⭐️⭐️ Easy people to work with through shining the light into the gloomy corners of business accounting. I could not have managed my business without them - Derek⭐️⭐️⭐️⭐️

Missed your second income tax payment on account? Don't panic – but don't ignore it either.

If you missed the 31st July payment deadline, it's important to act quickly.

Our latest Q&A explains:

• What happens if you miss your payment.
• When interest and penalties may apply.
• What to do if you can't afford to pay.
• How a Time to Pay arrangement could help.
• Ways to avoid the same situation next year.

The sooner you act, the more options you'll have.

Read our latest Q&A here: https://www.taxassist.co.uk/plymouth/resources/questions-and-answers/self-assessment-tax-return-missing-your-second-payment-on-account

From new record-keeping requirements, to upcoming Right to Work changes, there are several important developments that businesses need to be aware of.

Swipe through our carousel for an overview of:

✅Holiday pay record-keeping requirements
✅The new Fair Work Agency
✅Payments for low earners who have missed out on pension tax relief
✅Expanded Right to Work checks

Read the full article for more essential updates and guidance: https://www.taxassist.co.uk/resources/articles/essential-updates-for-employers-summer

Still chasing customer payments? 🤔

Using Direct Debit can help you collect regular payments automatically, giving you more time to focus on running your business instead of chasing invoices.

Find out how it works in our latest guide:

https://www.taxassist.co.uk/resources/articles/a-beginners-guide-to-direct-debit-for-small-business-owners

HMRC is stepping up its approach to Making Tax Digital for Income Tax.

From September 2026, HMRC will begin automatically registering eligible sole traders and landlords who should already be within MTD but have not yet signed up.

Signing up yourself now gives you more time to ⬇️:

✅ Check your details are correct
✅ Choose suitable MTD-compatible software
✅ Prepare your digital records
✅ Understand your reporting requirements

If you think you may be affected, don’t wait for HMRC to contact you.

Read our full update to find out more: https://www.taxassist.co.uk/resources/news/hmrc-to-start-making-tax-digital-for-income-tax-automatic-enrolment

Running a successful high street business takes the right mix of planning, promotion and great customer experience.

Here are some key tips to help you get started ⬇

Read our full guide here : https://www.taxassist.co.uk/accountants/resources/articles/how-to-run-a-successful-high-street-business

Thinking about expanding your business? Make sure you have a plan in place first.

Business growth can be an exciting opportunity but expanding too quickly or without the right preparation can create unnecessary challenges.

Our latest article explores some of the key dos and don'ts of business expansion, including:

• Planning your growth strategically.
• Keeping a close eye on cash flow.
• Understanding your tax and compliance obligations.
• Knowing when to seek professional advice.

Read our latest guide here: https://www.taxassist.co.uk/resources/articles/dos-and-don-ts-when-expanding-your-business

Could your coworking costs be tax deductible? 🖥️

Coworking spaces offer flexibility, networking opportunities and a professional place to work - but can you claim the costs as a business expense?

Swipe through to learn more, then read our full article for all the details: https://www.taxassist.co.uk/resources/articles/coworking-and-tax-deductibility-what-you-need-to-know

Got tax questions? We've got answers.

From self-assessment tax returns to VAT, find clear, expert advice on all your accounting queries in one place ⤵️

https://www.taxassist.co.uk/resources/questions-and-answers

New to running a limited company?

Corporation Tax can seem daunting at first, but understanding the basics early can save you time, stress and costly mistakes.

Swipe through for a quick overview, then read our latest guide for everything you need to know ➡️: https://www.taxassist.co.uk/resources/articles/corporation-tax-a-beginner-s-guide-for-newly-incorporated-businesses