Severn Accounting

Resources & Insights

Practical guides, tax tips, and deadline reminders — written in plain English by our Worcester and Birmingham teams. No jargon, just the stuff you actually need to know.

Regulatory Updates

Keeping Digital Records for MTD

One of the key requirements under Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) is the need to keep digital records of income and expenses....

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Regulatory Updates

Jointly Owned Properties and MTD

Unincorporated landlords who had combined property and trading income in 2024/25 of £50,000 or more must comply with Making Tax Digital for Income Tax...

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Business Advice

Business Rate Changes Ahead

From April 2026, many businesses may find that their business rates increase. This is as a result of the revaluation of properties for business rates...

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Tax Tips

Claiming a Tax Refund

It is reasonable to assume that if a person pays too much tax, HMRC will automatically send the overpayment back to them. Unfortunately, this is not the case,...

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Industry Insights

SDLT on Dilapidated Properties

The rate of SDLT payable on the purchase of a property depends on whether it is a residential property or not, and if so, whether the supplement...

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Tax & Accounting

Too much cash in the company?

Although many companies are facing difficult times, some have managed to accumulate a sizeable amount of cash in their business's current account. Leaving th...

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Tax & Accounting

Relief for post-letting expenses

All good things come to an end, and a property rental business is no exception. However, expenses may be incurred in relation to that property rental busines...

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Tax & Accounting

Capital allowances for cars

Cars are a special case when it comes to capital allowances. While capital allowances may be claimed on cars used in a business, partners and sole traders ha...

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Tax & Accounting

UK and overseas property businesses

Profits arising from land or property are treated as arising from a property business. For tax purposes, profits from land and property in the UK are kept se...

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Tax & Accounting

SDLT and linked transactions

Special rules apply for stamp duty land tax (SDLT) purposes where there is more than one sale and purchase between the same buyer and seller. It is important...

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Tax & Accounting

Incorporating your property business

Running a property business through a limited company has become increasingly popular, not least because the rate of corporation tax paid on profits will gen...

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Tax & Accounting

Extension to MTD for ITSA

Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is introduced progressively from 6 April 2026. It will require unincorporated traders and la...

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Tax & Accounting

Claiming mileage relief

Employees may pay for the fuel that they use for business journeys undertaken in their own car or in a company car. Often, an employer will reimburse this co...

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Tax & Accounting

MTD – A time to incorporate?

After years of deferral, the long-anticipated Making Tax Digital (MTD) for Income Tax start date has finally been confirmed. This is a significant developmen...

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Tax & Accounting

ATED returns for 2025/26

The annual tax on enveloped dwellings (ATED) is a tax that is payable mostly by non-natural persons (mostly companies) owning UK residential property valued...

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Tax & Accounting

Looking ahead to MTD for landlords

The way that many landlords will report details of their income and expenses to HMRC is changing from April 2026 onwards. This is when Making Tax Digital for...

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Tax & Accounting

Official rate of interest

The official rate of interest is a rate set by HMRC which is used to calculate the benefit in kind tax charge on cheap employment-related loans, and also the...

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Tax & Accounting

Pension savings in 2025/26

Putting money into a registered pension scheme can be tax efficient. Individuals can make contributions in their own right, or even for someone else, and emp...

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Tax & Accounting

Reporting residential property gains

Owners of investment properties and second homes may decide to sell up for a variety of reasons. They may wish to take advantage of a more buoyant market as ...

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Tax & Accounting

Beat the SDLT deadline

There is a stamp duty land tax (SDLT) deadline on the horizon – from 1 April 2025, there are changes to both the residential SDLT threshold and that applying...

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