Many people know that Inheritance Tax is normally charged at 40%. Far fewer realise that once an estate exceeds £2 million, another valuable Inheritance Tax allowance starts to disappear. This can mean that, for some estates, reducing the value by £1 can potentially save 60p in Inheritance Tax. What is the Residence Nil Rate Band?
Category Archives: HMRC Updates & Changes
Allowable Limited Company Expenses, Important News from HMRC, Self-Assessment/ Personal Tax
HMRC Increases Mileage Rates from 1 April 2026
With the cost of running a vehicle continuing to rise, many business owners and employees will welcome HMRC’s increase to the approved mileage rates from 1 April 2026. If you use your own car for business journeys, this change means you may now be able to claim a little more towards the cost of fuel,
Changes to Tax Rates & Thresholds, Self-Assessment/ Personal Tax
How to Check Your State Pension Forecast and Why It Matters
When it comes to retirement, many people assume their State Pension will simply fall into place. In reality, the amount you receive can vary quite a bit. It is not something we can check for you as your accountant, either. The good news is that it is quick and easy to check your State Pension
Client Success Stories, HMRC Updates & Changes
When “Simple” Isn’t Simple: What the Companies House Verification Process Taught Us
Over the past year, we’ve been working through the Companies House director verification process here at DNA Accountants. Like many accountancy practices, we knew it was coming. We read the guidance, understood the requirements, and made what felt like a sensible decision at the time: We would let clients complete the verification themselves, and we
Changes to Tax Rates & Thresholds, Director’s Pay vs Dividends, HMRC Updates & Changes, Payroll Basics for Employers
April 2026 tax changes: what’s changing (and what that means for you)
April always comes with a fresh tax year… but 6 April 2026 is shaping up to be a big one for business owners, directors, employers and investors. In this blog, I will highlight some of the main changes starting in April, reminding some that have already happened and what this might mean for you and
Allowable Limited Company Expenses, Government Support & Reliefs, Self-Assessment Tips for Sole Traders, Tax Planning & Saving Tips
Entertaining staff, subcontractors and spouses – what you can (and can’t) claim as a business expense
Treating your team to a night out or saying thank you to a subcontractor can feel like a well-earned reward after a busy period. But when it comes to putting it through the books, HMRC doesn’t always share the same sense of celebration! Here’s what counts (and what doesn’t) when entertaining staff, subcontractors – and
Changes to Tax Rates & Thresholds, Tax Planning & Saving Tips
Understanding Top Slicing Relief: Why It Doesn’t Always Save You Tax
When you cash in a life insurance bond or certain investment policies, you might face something called a “chargeable event gain.” This is the profit built up inside the policy, which HMRC treats as income in the year you cash it in. The problem? The whole gain is added to your income for that year,
Allowable Limited Company Expenses, Changes to Tax Rates & Thresholds, Director’s Pay vs Dividends, P11D's, Tax Planning & Saving Tips
Should You Have a Company Car? The most asked Question we get!
If I were to create a hit list of questions asked by clients, the one that would be in our top 3 would be around company cars and company car tax implications. A company car is often seen as a desirable perk — but in reality, whether it’s a good idea depends on who you
Government Support & Reliefs, Pensions, Tax Planning & Saving Tips
Busting the Myths About Taking Your Pension Tax-Free
Over the years, many of us end up with several pensions from different jobs — some large, some small, and sometimes a bit forgotten about until retirement looms. When it comes time to draw from them, one question comes up again and again: “Can I take the whole thing tax-free?” The rules around pensions can
HMRC Updates & Changes, Important News from HMRC, MTD for Income Tax (ITSA), Self-Assessment Tips for Sole Traders, Self-Assessment/ Personal Tax
Everything you need to know about our new MTD ITSA guide – your step-by-step companion
We know that Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) can seem like a lot to wrap your head around. But don’t worry! At DNA Accountants, we’re all about making your life easier. That’s why we’ve put together a handy, downloadable guide to help you navigate these changes with ease. What’s MTD ITSA