Tax & Accounting Advice

Self-Assessment

Self-Assessment is how you report taxable income and gains that HMRC cannot fully tax automatically.

Tax codes

A tax code is HMRC's instruction for PAYE tax deductions.

Allowable expenses

Allowable expenses must meet HMRC rules for the relevant trade, property business or company.

Scottish Income Tax

Scotland has six income tax bands in 2026/27: starter 19%, basic 20%, intermediate 21%, higher 42%, advanced 45% and top 48%.

LBTT

LBTT on residential property is 0% up to £145,000, 2% to £250,000, 5% to £325,000, 10% to £750,000 and 12% above that.

R&D Tax Credits

From April 2024, most companies claim under the merged R&D scheme at a 20% above-the-line credit rate.

Section 24

Since April 2020, mortgage interest and finance costs are no longer deductible from rental income — instead landlords receive a 20% basic-rate tax credit.

Inheritance Tax

The nil-rate band is £325,000 per person; unused nil-rate band can be transferred to a surviving spouse.

Small Business Bonus Scheme

Premises with a rateable value up to £12,000 get 100% relief and pay no non-domestic rates at all.

ADS

ADS is charged at 8% of the full purchase price for transactions on or after 5 December 2024 (previously 6%).

Autumn Budget 2026

The Autumn Budget sets UK-wide taxes: NI, CGT, dividends, savings, Corporation Tax, VAT and Inheritance Tax.

Scottish Budget

The Scottish Parliament sets the rates and band thresholds on non-savings, non-dividend income for Scottish taxpayers.

Property income rates

Announced in the Autumn Budget 2025: property income rates of 22%, 42% and 47% from 6 April 2027 for England, Wales and Northern Ireland.

Second homes in Scotland

Since April 2024 Scottish councils can charge up to double council tax on second homes.

Moving abroad

UK residence is decided by the Statutory Residence Test, not by where you say you live.

Tax deadlines

Different taxes have different filing and payment dates.

Making Tax Digital

MTD for VAT already applies to every VAT-registered business, whatever its turnover.

CIS Explained

Contractors must deduct CIS tax before paying subcontractors, unless the subcontractor holds gross payment status.

Auto-Enrolment

Employers must automatically enrol eligible workers aged 22 to state pension age earning over £10,000 per year.

HMRC Enquiry Guide

HMRC can open an enquiry into a Self-Assessment or Corporation Tax return within 12 months of the filing date.

Director Responsibilities

Directors have statutory duties under the Companies Act 2006, including acting in the company's best interests and avoiding conflicts of interest.

MTD Income Tax

MTD for Income Tax has been mandatory since April 2026 for self-employed people and landlords with qualifying income above £50,000.

Short-term lets

You must hold a short-term let licence before taking bookings or receiving guests. A licence usually lasts three years.

April 2027 changes

Making Tax Digital for Income Tax reaches sole traders and landlords with qualifying income over £30,000.

Companies House changes

Directors and people with significant control must verify their identity with Companies House.

OSCR charity accounts

Scottish charities report to OSCR, not the Charity Commission for England and Wales.

Landlord registration

Private landlords must register with the council for each area where they let property.

Data protection

Countify only asks for information needed to complete accountancy, tax or compliance work.

Switching Accountants

There is no legal requirement to give your current accountant notice before switching.