http://www.charlesaccountancy.com/blog/ The latest Blog feeds from www.charlesaccountancy.com en-us Tue, 14 Apr 2026 22:31:05 +0100 Rocketspark http://www.charlesaccountancy.com/blog/post/11097/hmrc-self-assessment-tax-payments-on-account/ What Are Payments on Account? Payments on account are advance payments made towards your next Self Assessment tax bill. In many cases, HMRC will ask you to make two payments on account each year. You usually need to make them unless: your latest tax bill is less than £1,000, or80% or more of your tax is collected at source, for example through PAYE. Each payment on account is normally 50% of your previous year’s tax bill. The two payment dates are: 31 January31 July Example Let’s say you ar... Mon, 06 Apr 2026 00:00:00 +0100 http://www.charlesaccountancy.com/blog/#post11097 http://www.charlesaccountancy.com/blog/post/25833/mtd-itsa/ Making Tax Digital for Income Tax Self Assessment (MTD ITSA) is one of the biggest changes HMRC has ever made to the UK tax system. And although it has been delayed a few times, HMRC has now confirmed the new start dates — and it will affect millions of landlords and sole traders.If you earn property income or run a self-employed business, this is something you must prepare for well in advance. Waiting until the deadline will cause stress, mistakes, and unnecessary penalties.In this blog, I’... Thu, 11 Dec 2025 14:40:10 +0000 http://www.charlesaccountancy.com/blog/#post25833 http://www.charlesaccountancy.com/blog/post/25312/making-tax-digital-mtd/ MTD is coming – April 2026If you’re self-employed sales turnover or a landlord with rent received over 50,000, you’ll soon need to follow Making Tax Digital (MTD) for Income Tax.✅ Keep digital records✅ Use HMRC-approved software✅ Send quarterly updates to HMRC✅ Final declaration after year-endThis starts from 6 April 2026.If your income is £30,000+, your turn comes in April 2027.📲 Don’t wait – get your systems set up early.We can help you move to MTD-ready software and keep... Mon, 29 Sep 2025 12:03:08 +0100 http://www.charlesaccountancy.com/blog/#post25312 http://www.charlesaccountancy.com/blog/post/25203/vat-place-of-supply/ ... Mon, 15 Sep 2025 17:45:57 +0100 http://www.charlesaccountancy.com/blog/#post25203 http://www.charlesaccountancy.com/blog/post/25073/vat-on-recharges-what-you-need-to-know/ When running a business, it’s common to pass on costs to your clients – whether it’s travel, postage, or bank fees. But here’s a crucial point many business owners overlook: if you recharge these costs, you must also charge VAT, even if no VAT was charged to you in the first place.This rule comes straight from HMRC, and it often catches businesses out. Why VAT Applies to Recharges The key reason is that these expenses are considered business costs incurred by you, not direct costs on beh... Wed, 03 Sep 2025 11:51:36 +0100 http://www.charlesaccountancy.com/blog/#post25073 http://www.charlesaccountancy.com/blog/post/25069/charles-accountancy-achieves-xero-gold-partner-status/ As a London-based firm of accountants and tax advisors, this milestone reflects our expertise in cloud accounting and our commitment to helping small businesses, contractors, and growing companies manage their finances with clarity and confidence. What Does It Mean to Be a Xero Gold Partner? Xero Gold Partner status is awarded to accountancy firms with a proven track record of supporting clients on Xero. It shows that we’ve helped a significant number of businesses move to the cloud and that w... Tue, 02 Sep 2025 17:15:25 +0100 http://www.charlesaccountancy.com/blog/#post25069 http://www.charlesaccountancy.com/blog/post/25000/the-5-stages-of-grief-kubler-ross-model/ The Kübler-Ross model is often called the "Five Stages of Grief" model. It was introduced by psychiatrist Elisabeth Kübler-Ross in her 1969 book On Death and Dying. She developed it after working with terminally ill patients and observing their emotional responses to facing death.The model describes five stages people often go through when dealing with grief, loss, or major life changes:DenialA state of shock or disbelief."This can’t be happening."Denial acts as a buffer to protect us from o... Thu, 21 Aug 2025 12:16:19 +0100 http://www.charlesaccountancy.com/blog/#post25000 http://www.charlesaccountancy.com/blog/post/24993/advertising-investment/ ... Tue, 19 Aug 2025 18:01:03 +0100 http://www.charlesaccountancy.com/blog/#post24993 http://www.charlesaccountancy.com/blog/post/23283/capital-gains-tax-returns/ ... Tue, 19 Aug 2025 00:00:00 +0100 http://www.charlesaccountancy.com/blog/#post23283 http://www.charlesaccountancy.com/blog/post/11180/paying-HMRC-self-assessment/ The simplest way to pay HMRC for your self-assessment income tax bill is by bank transfer.HMRC Bank details:Sort codeAccount numberAccount name08 32 1012001039HMRC Cumbernauld08 32 1012001020HMRC ShipleyYou can use either HMRC bank account.The most important is the payment reference.  This is your 10-digit Unique Taxpayer Reference (UTR) followed by the letter 'K'.https://www.gov.uk/pay-self-assessment-tax-bill/bank-details... Fri, 31 Jan 2025 00:00:00 +0000 http://www.charlesaccountancy.com/blog/#post11180