Tax Matters

20/07/2025

👩‍⚖️ Named as an Executor? You’re Responsible for the Tax Too.
Many people don’t realise that being an executor in the UK means dealing with HMRC — not just banks, wills, and paperwork.

From the deceased’s final tax return to Inheritance Tax and Capital Gains Tax on the estate, you’re legally responsible for making sure everything’s done correctly.

✅ Final tax return up to date of death
✅ Tax on estate income and gains
✅ Understanding Inheritance Tax rules
✅ When to report to HMRC — and when you don’t have to
✅ How to get tax clearance for peace of mind

💡 It’s a lot to take on — especially if this is all new to you. Our latest article breaks it down clearly and explains when to ask for help.

👉 Read the full guide here:

We specialise in helping executors and families handle UK tax after someone dies. Get in touch if you’re feeling unsure — we’re here to support you.

If you're an executor in the UK, you're legally responsible for handling the deceased’s tax affairs. This guide explains final tax returns, estate income, CGT, IHT, and HMRC reporting. Avoid mistakes, understand deadlines, and know when to seek help. Clear, practical advice for managing estate tax...

05/07/2025

🔍 We're Hiring: Part-Time Accountant (c.10-15 hrs/week)

💼 £50–£55k FTE* | 📍 Office & Remote -Based (Milton Keynes, Bucks)

👨‍👩‍👧‍👦 Family-Friendly | Flexible Hours | Great Culture

The Role

This is a varied and hands-on role covering small limited company accounts, Corporation Tax, VAT, Companies House filings and more. It's ideal for someone who enjoys autonomy and being part of a small, growing team.

What We’re Looking For

✔️ Qualified accountant (ACA / ACCA / equivalent)

✔️ Experience with Xero and cloud-based systems (ideally)

✔️ Confident, proactive, and organised

✔️ Strong communicator, comfortable with remote and office collaboration

✔️ A positive, solutions-focused approach

The Offer

🕒 Around 10-15 hours per week (flexible)

🏠 Hybrid: remote working with regular office time in Milton Keynes, Bucks

💰 £50,000–£55,000 FTE (depending on experience)

🌱 A chance to be part of a supportive and ambitious firm

If you’d like to use your skills in a flexible, family-friendly environment with real variety and opportunity, I’d love to hear from you.

📩 Feel free to message me directly or apply today!

Send a message to learn more

05/07/2025

Are you a landlord—new or experienced?

It’s easy to fall for common myths about declaring rental income and unknowingly risk penalties from HMRC.

In my latest blog, I break down the truths about rental income tax, the £1,000 property income allowance, mortgage interest relief, and HMRC’s Let Property Campaign, including their nudge letters.

Stay informed, stay compliant, and avoid costly fines. Take a look here

https://www.taxmatters.tax/tax-blog/common-myths-about-declaring-rental-income

Many UK landlords wrongly assume they don’t need to declare rental income, risking serious penalties from HMRC. This article debunks common tax myths, explains how the £1,000 property income allowance really works, outlines changes to mortgage interest tax relief, and explores HMRC’s Let Proper...

20/03/2025

🚀 Looking for a Flexible Role in Personal Tax? This Could Be for You! 🚀

Are you an AAT-qualified accountant looking for a part-time opportunity that offers career growth and flexibility? Do you enjoy working with small business clients and have a keen interest in personal tax? If so, we’d love to hear from you!

We’re looking for a Part-Time AAT Qualified Accountant to join our Personal Tax Department. This role offers:

✅ Hands-on experience with accounts and tax returns
✅ Exposure to a range of small business clients
✅ Study support towards the ATT qualification
✅ A friendly and supportive team
✅ Flexible working hours

If you're detail-oriented, proactive, and eager to grow your expertise, this could be the perfect role for you!

📩 Apply now or share with someone who might be interested. For full details, get in touch today!

31/01/2024

Did you do it?

You have till midnight on the 31st of January to submit your tax return for the tax year that ended 5th April 2023.

If not, it's only a £100.00 late penalty..... or is it? 🤔

From the 1st of May, there is a daily penalty of £10.00 a day for the next 90 days potentially £900.00.

From the 1st of August, there is a further penalty of £300.00 or 5% of any tax remaining due (yes there are also penalties for late payment another infographic coming soon).

If you manage to get to a full year of being late there is a further £300 or 5% of the tax remaining due (whichever is higher).

And before you know it you have incurred £1,600.00 in late filing penalties.

You could always try appealing the penalties, but that's a whole new infographic 😅

Fingers crossed 🤞 you all filed your

29/01/2024

Have you seen this week's newsletter?

Keep up to date with what is happening in personal tax this week with our newsletter.

26/01/2024

Would you like a Tax Refund?

Did you know that many employees loose the opportunity to claim back tax from HMRC each year?

If you use your own vehicle for work, you may be able to claim tax relief on the approved mileage (this does not include commuting to and from work).

🚘 first 10,000 miles 45 pence a mile
🚌 over 10,000 miles 25 pence a mile

🏍️ Motorbike 24 pence a mile

🚲Bycycle 20 pence a mile

If you employer does not pay the full rate (some employers only pay 25 pence a car mile) then you can claim relief on the differences in your tax return, and if your employer does not pay any mileage you can claim the full amount.

The good news is the claim can be carried back for the previous four years 😁

I hope you found this useful, if I can be of any assistance with your personal affairs please do not hesitate to DM or phone me on 01442 828006.

19/01/2024

Do you know about this?

Yesterday, I had an interesting call from a man who asked me if it was true that Child Benefit (eldest child £21.80 other children £14.45 a week) needed to be reported on his tax return.

Yes, if you or your partner earn more than £50,000 then the higher earner should report this on their tax return and tax is charged – “ The charge is equal to one per cent of a family’s Child Benefit for every £100 of adjusted net income over £50,000 each tax year. If an individual’s adjusted net income is over £60,000, the charge equals the total amount of the Child Benefit”.

He, then said “I might have a problem” 😨

It transpires that he has not reported this since the introduction of the Higher Income Child Benefit back in 2013.

When the charge was introduced HMRC wrote to 800,000 taxpayers who they thought would be affected, and according to their website, they continue to use a range of channels to raise awareness.

If you are preparing your tax return this year, and you receive Child Benefit, make sure you include this, as it is highly likely that HMRC will identify those who omit the entry. Over, recent years many clients who have failed to disclose their income have been caught by HMRC, many did not realise their partner was claiming so please ask the question before you send the tax return in.

I hope you found the update useful, and if you have any questions or you require any advice or assistance please do not hesitate to contact me.

17/01/2024

Can you believe this❓

In a recent press release from HMRC (11th January 2024)it was estimated that approximately more than 5.7 million tax returns were still yet to be submitted ahead of the filing date of 31st January 2024.

Although some 6.5 million have already be submitted over the last nine months, I'm sure you will agree it's going to be a busy month for HMRC and possibly you if you are one of the 5.7 million.

The question is will HMRC Manage with this volume, especially in light of the recent industrial action announced that will effect the I.T. Unit who are directly responsible for self assessment.

Could we end up seeing a record year for £100 penalties for late submission, or possibly an extension to the filing days (unlikely but we keep our fingers crossed as always) ❓

I hope you found the update useful, and if you have any questions or you require any advice or assistance please do not hesitate to contact me.

15/01/2024

Since 1997 there has been a £100.00 penalty for submitting your after 31st January.

Don’t get caught out, as this is only the start, why not have a read of my tax article to discover how quickly the fines can increase, you might be surprised

There could be more than one penalty if you file your tax return late