May - July Updates
Welcome to the Spring updates. We are now in full swing at the start of the 2025-26 Self-Assessment year and introducing Making Tax Digital for Income Tax to current clients who need it, new clients who are querying and the team. It is going to be a very eventful and busy year ahead.
In June, we will be celebrating our 8 th Business Birthday and decided to take a slightly different approach. We are hosting an event for self-employed at the White Hut in Cwmbran where the afternoon will be a celebration including a relaxed presentation hosted by our Director Elizabeth followed by a live band performance from PitBrass.
You can book your tickets here
https://www.eventbrite.co.uk/e/an-afternoon-with-pitbrass-musicians-hangout-open-qa-tickets- 1987987196219?aff=ebdssbdestsearch
Last quarter we had many celebrations:
February:
Charlott joined the team to look after our business development and payroll.
March:
Gareth celebrated a year with the team
April:
The diary has been filled all month with new client queries and current client meetings. It’s been
fantastic working more with you all.
On 16 th April our director Elizabeth joined the ladies from Starla Business Networking for a social event at the Escape Rooms Newport – it was fantastic solving the puzzles and escaping from both rooms. No spoilers here.
General Information
Companies House deadline to have your identity verified – this was 18 November 2025.
This applies to all Directors, PSC’s registered on Companies House.
Where you are a Director / Trustee / Member for a not for profit – this also applies to you.
Please do not ignore the letters / emails from Companies House, if in doubt please do get in touch.
> This process takes a few minutes
> There is no charge to complete it
> IT MUST BE DONE by the deadline
> The ID Verification / personal code (IDV) number will be sent to you only and available on your Gov login.
> Please pass this code onto your accountant if they are filing company accounts / confirmation statements for the company.
> Failure to complete this can lead to severe penalties from Companies House.
> Confirmation statements cannot be submitted without ALL IDV being included.
> You can check your deadlines on your business Companies House page (tab – people)
Self Assessments
From April 2026 HMRC are introducing quarterly submissions for self-employed and landlords whose combined income is over the thresholds below. This is called Making Tax Digital for Income Tax (MTD-IT). Currently Partnerships are not included in MTD-IT, PAY income is not included in MTD-IT
New engagement letters to those affected from April 2026 have been emailed.
> These dates are based on the sales/turnover submitted on 2024-25 self-assessment
> 01 Apr 2026: self-employed income and or rental income over £50,000
> 01 Apr 2027: self-employed income and or rental income over £30,000
> 01 Apr 2028: self-employed income and or rental income over £20,000
What does HMRC require?
> Quarterly Submissions for self-employment and or rental income
> These FIXED quarters will be Apr – Jun, Jul – Sep, Oct – Dec, Jan – Mar.
> The FIXED submission deadlines are 07 Aug, 07 Nov, 07 Feb, 07 May.
> This should help you save for any self-assessment tax due
> In addition, you will need to submit a full self-assessment.
What will this look like?
> Capium software for MTD-IT will be launched in a few months.
> We will contact those affected from April 2026 first with the new requirements and prices
We have identified a number of clients who no longer need a self-assessment completed. We will be contacting you individually in May 2025 regarding the next steps.
Events and Dates for your diary
May:
4 th Closed for Bank Holiday.
8 th Starla Business Networking
25 th Closed for Bank Holiday.
June:
4 th Love Live Music Awards at Tiny Rebel – We are sponsoring the Metal/Punk award
5 th Starla Business Networking
16 th Our 8 th Business Birthday event at the White Hut in Cwmbran. Book your tickets to join us
July:
3 rd Starla Business Networking
Our Director has some time booked off to celebrate family birthdays
Have a wonderful quarter and enjoy the warmer weather.