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https://tag-agl.com/news/a-new-era-of-accounting-services/

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A new era begins with a new identity

After careful consideration and strategic planning, we are thrilled to announce that, due to our continued growth and the recent merger of Copia Wealth & Tax, Portfolio Accountants, and MyFinanceTeam, we have undertaken a rebranding initiative. The new identity of our expanded and integrated business will be TAG Accountants Group and our new website address is https://tag-agl.com

Our evolution

As part of this rebranding, Copia Wealth & Tax Limited, the company, will henceforth be known as TAG Assurance Ltd. We believe that this change better reflects the comprehensive range of accounting services we offer and positions us for even greater success in the future.

This evolution is a testament to our commitment to providing exceptional service and ensuring that we remain at the forefront of industry trends.

One of the benefits of the merger has been the pooling of our resources, talent, and expertise, resulting in a larger practice that is better equipped to meet the evolving needs of you, our clients, and to be able to attract the best new talent to the practice in the future.

A bigger range of services

As TAG Accountants Group, we will be able to provide you with an increased range of services, from traditional accounting and assurance to more specialised and innovative solutions, through our membership of the TAG Community.

This provides access to expertise across a wide number of areas. Our goal is to continue supporting you through a comprehensive suite of services tailored to your specific needs.

Some of the services we offer include:

Whether you are a sole trader, a small business, or a large corporation, we have the skills, experience, and resources to help you achieve your financial goals and grow your business.

A seamless transition

We understand that change can bring uncertainty, but we want to assure you that our dedication to your satisfaction and the quality of our services remains unwavering and you will still have your requirements met, as previously, by the existing members of our team with whom you are already familiar.

The transition to TAG Accountants Group will be seamless, with the same commitment to excellence that you have come to expect from us.

How will YOU benefit?

We are genuinely excited about the opportunities this merger and rebranding presents, and we believe it will strengthen our ability to serve our clients better in the future. By joining forces, we can offer you more value, more expertise, and more solutions to help you succeed.Here are some of the main benefits of our rebranding and merger for you:

You will have access to a wider range of services and solutions that can help you with your accounting
and business needs.

You will benefit from the combined expertise and experience of our team, who have a wealth of
knowledge and skills in various areas of accounting and business.

You will enjoy the same high-quality service and personal attention that you have always received from
us, with the added advantage of our enhanced capabilities and resources.

You will be part of a growing and dynamic community of clients and partners, who share our vision and
values of excellence, integrity, and innovation.

Ready to take your business to the next level?

Our team is committed to making this transition as smooth as possible with as little disruption as possible, and we look forward to the further success of our relationship under the new TAG Accountants Group banner.

If you have any questions or concerns or would like the opportunity to join the TAG Accountants Group family as a client or member of our team, please reach out to your usual point of contact or call Shaun Philpott at 01902 783172. Alternatively, to book a consultation with one of our experts please contact us by using the online enquiry form on our website here.

We very much look forward to hearing from you.

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A New Era of Accounting Services from TAG Accountants Group

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Find out all about our new identity, our expanded range of accounting services, and how you can benefit from our merger and rebranding.

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Tax Free Childcare, Off Payroll Working and Compliance Changes

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Tax Free Childcare, Off Payroll Working and Compliance Changes

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The monthly round up from TAG Accountants Group

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Ensure you are getting tax-free childcare and complying with off-payroll rules

We like to take the initiative here at TAG Accountants by providing our clients with timely reminders regarding any accounting and tax issues that may affect them or their businesses. This month, we look at tax-free childcare, off-payroll working rules and recent changes to confirmation statements.

Tax-free childcare - do you qualify?

HMRC is reminding parents about Tax-Free Childcare, a UK government scheme designed to assist working parents with childcare costs. Here are the key points to help you decide if you may qualify for this:

Eligibility: Tax-Free Childcare is available to working parents, including self-employed individuals, who have children under the age of 12 (or under the age of seventeen for children with disabilities). Both parents must be in work, earning at least the National Minimum Wage or Living Wage for 16 hours per week, or have an income of less than £100,000 per year.

Financial Support: Under the scheme, eligible parents can receive government contributions of up to £2,000 per child per year towards childcare costs. The government contributes £2 for every £8 paid by the parent, effectively providing 20% tax relief on childcare expenses.

Approved Childcare Providers: Tax-Free Childcare can be used to pay for childcare provided by registered childcare providers, including nurseries, childminders, after-school clubs, and holiday clubs. The childcare provider must be approved by the government and registered with the scheme.

Applying for Tax-Free Childcare: As a parent, you can apply for Tax-Free Childcare online through the government's Childcare Choices website. You will need to create an account, provide details about your employment and income, and register your child with an approved childcare provider.

Managing the Account: Once approved for Tax-Free Childcare, you will have a childcare account through which you can make payments directly to your childcare provider. You can also manage your account, update your details, and view your payment history online.

Off-payroll working rules - a reminder of responsibilities

IR35, also known as off-payroll working rules, applies to both small and large companies in the UK, but there are key differences in how the rules are applied and managed:
For Small Companies:
Responsibilities: Small companies, defined as those meeting at least two of the following criteria - an annual turnover of £10.2 million or less, a balance sheet total of £5.1 million or less, and 50 employees or fewer - are exempt from certain responsibilities under IR35, e.g., they are not required to conduct IR35 assessments or determine the employment status of contractors.

Client-Led Determinations: Determining the contractors' employment status under IR35 lies with the contractor, who must assess their own IR35 status and ensure compliance with the rules.

Reduced Administrative Burden: Small companies benefit from reduced administrative burden under IR35, as they are exempt from conducting IR35 assessments and issuing Status Determination Statements (SDS).
For Large Companies:
Responsibilities: Large companies, defined as those not meeting the criteria for small companies, have additional responsibilities under IR35 in having to determine the employment status of contractors, conducting IR35 assessments, and issuing Status Determination Statements (SDS).

Client-Led Determinations: Large companies engaging contractors must assess the contractors' employment status for IR35 purposes and provide a written SDS to the contractor and any intermediaries involved in the engagement. They must also communicate their determination and reasons for it to the contractor.

Increased Compliance Requirements: Large companies face increased compliance requirements under IR35 in conducting IR35 assessments, issuing SDS, and ensuring compliance with the rules. Failure to comply with IR35 obligations can result in financial penalties, interest charges, and reputational damage.

In summary, the main differences between IR35 off-payroll working rules for small and large companies lie in their respective responsibilities, with small companies benefiting from certain exemptions and reduced administrative burden, while large companies face additional compliance requirements and responsibilities under the rules.

The situation is further complicated by scenarios that fall outside off-payroll working rules so, if you feel your business may be affected by these rules, please feel free to contact TAG Accountants to secure assistance in what remains a confusing area.

Changes around company confirmation statements

In addition to the requirement to file accounts with Companies House, there is a further requirement to check that the information Companies House has about your company is correct every year by filing of an annual company confirmation statement. Companies House can prosecute a company and its officers for failing to file a confirmation statement and the company can be struck off the register for continued non-compliance.

Companies House guidance on the confirmation statement has been updated with new measures introduced under the Economic Crime and Corporate Transparency Act.

A confirmation statement needs to be lodged with Companies House annually. Instead of re-submitting data annually, you only need to update the confirmation statement if there are any changes to report. If there are no changes, you simply need to confirm that the information is accurate and submit the statement.

The due date is usually a year after either the date your company incorporated or the date you filed your last confirmation statement. The confirmation statement needs to be filed within 14 days of its due date. Any necessary updates such as to the statement of capital, shareholder information and SIC codes can be made when submitting the confirmation statement.

There are now two separate forms for completing a confirmation statement. The Confirmation Statement CS01 should be used if your confirmation date was 4 March 2024 or prior, to confirm that the company's details are up to date. Confirmation Statement form CS01 (new version) should be used if your confirmation date is 5 March 2024 onwards, to confirm that the company's details are up to date. Existing companies will need to give a registered email address when they file their next confirmation statement with a statement date after 5 March 2024.

It costs £13 to file a confirmation statement online and £40 if you submit a paper form to Companies House. These fees are set to increase to £34 and £62 respectively from 1 May 2024, quite a significant increase.

Discover how TAG Accountants Group can help

Not choosing the right professional advisor could prove very costly to you or your business.

With that in mind, please check out what our clients think of the great service they receive from us by clicking our testimonials link HERE.

The team at TAG Accountants Group are here to provide our clients with any support that may be required, so if you would like more information regarding Tax-free childcare, off-payroll working rules, changes to company compliance statements or indeed any other tax-related issues, please call 01902 783172 to speak with one of the friendly advisors, or complete our online enquiry form HERE and we will be in touch.

We very much look forward to hearing from you.

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Tax-free childcare, off-payroll rules, and compliance statements.

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Unlock the benefits of tax-free childcare, navigate off-payroll working rules together with an update on compliance statements with expert advice from TAG Accountants Group.

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The article discusses anticipated changes in the upcoming budget, focusing on potential adjustments to inheritance tax, capital gains tax, and pension tax relief. Key points include speculation about alignment of capital gains tax rates with income tax rates, possible restrictions on pension benefits, and changes to inheritance tax thresholds. Additionally, the article offers leadership advice, emphasizing the importance of fostering open communication and acknowledging mistakes to create a culture of innovation and growth. The TAG Accountants Group provides insights on financial and leadership strategies to help businesses navigate these potential changes.

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Business Leadership Tips - TAG Accountants Group

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Discover the latest budget rumours, potential tax changes, and effective leadership tips in our detailed analysis. Foster a culture of openness and innovation.

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Discover tax-saving tips on Christmas staff payments, gifts, & parties from TAG Accountants Group. Keep festive cheer alive while managing tax efficiently.

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A few reminders for the Christmas season - TAG Accountants Group

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Discover tax-saving tips on Christmas staff payments, gifts, & parties from TAG Accountants Group. Keep festive cheer alive while managing tax efficiently.

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Learn about crucial tax planning strategies before the 2024/25 tax year ends. Our comprehensive overview covers critical areas such as pension planning, ISA allowances, capital allowances, and FHL updates. Find out to optimize your tax-free savings and learn about upcoming changes impacting stamp duty and business disposals.

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Year end tax planning - TAG Accountants Group

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Maximise your tax savings before April with expert strategies on ISAs, pensions, CGT planning & property. Key deadlines & changes explained.

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See a full review of the latest changes to capital gains tax in the UK

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Understanding Capital Gains Tax Key Rate Changes and Planning Strategies

One of the taxes that underwent significant changes following the Autumn Budget was Capital Gains Tax ("CGT").

From discussions we have had with several clients, it is clear that there is some uncertainty regarding the changes introduced and their impact on individuals and business owners.

With this in mind, TAG Accountants have dedicated this month's focus to shedding light on this topic, providing greater clarity on the key adjustments, and offering a timely reminder about the benefits and proper utilisation of rollover relief.

CGT Rates - When and By How Much Are They Increasing?

The key changes to rates of CGT now effective or planned for the future are as follows:

Effective from 30 October 2024: The CGT rates for most assets (excluding residential property and carried interest) have increased. For basic rate income taxpayers, the rate has risen from 10% to 18%. For higher rate income taxpayers, as well as trustees and personal representatives, the rate has increased from 20% to 24%. The CGT rates for residential property disposals (18% and 24%) remain unchanged at this time.

Effective from 6 April 2025: The CGT rate for Business Asset Disposal Relief and Investors' Relief will increase from 10% to 14%.

Effective from 6 April 2026: The CGT rate for Business Asset Disposal Relief and Investors' Relief will increase further to 18%.

Carried Interest: The CGT rates for carried interest are also changing. Currently, these are 18% and 28%. From 6 April 2025, a single unified rate of 32% will apply. Further changes to carried interest taxation are expected from April 2026, and we will update you on these as details are released.

Investors' Relief Lifetime Limit: The lifetime limit for Investors' Relief is being reduced from £10 million to £1 million for qualifying disposals made on or after 30 October 2024. The lifetime limit for Business Asset Disposal Relief remains at £1 million. Special provisions may apply to certain contracts entered into before 30 October 2024.

One of the more significant and challenging consequences is the rise in the Business Asset Disposal Relief rate. This change means that business owners planning to exit in the near future have an opportunity to save £40,000 in Capital Gains Tax by completing a disposal before the rate increase takes effect on 6 April 2025. For those who are unable to meet this deadline, there remains a strong incentive to arrange a disposal during the 2025/26 tax year, as the rates are set to rise by a further 4%, making early action even more financially beneficial.

In addition to the upcoming changes to inheritance tax, which will see business property relief capped at £1 million, older shareholders in family-owned businesses must now give much more careful thought to their future strategy for passing ownership to the next generation. With these restrictions in place, ensuring that succession planning is both tax-efficient and aligned with long-term business goals has become increasingly important to minimise exposure to substantial tax liabilities.

Do Not Forget About Business Asset Rollover Relief

Business Asset Rollover Relief serves as an invaluable mechanism for effectively managing your CGT liability when reinvesting in business assets. This relief enables you to defer the payment of CGT by "rolling over" the gain from the sale of an existing asset into the purchase cost of a new qualifying asset. In essence, rather than paying tax immediately, the liability is postponed until the newly acquired asset is eventually sold, providing greater flexibility in financial planning and cash flow management.

Here Is How It Works:

If you reinvest the full proceeds from selling a business asset into a new one, the entire gain is deferred.

If you reinvest only part of the proceeds, you can still claim partial rollover relief.

You can even claim provisional relief if you plan to reinvest but have not yet purchased the new asset.

Rollover relief also applies to improvements made to existing assets.

Key Conditions for Rollover Relief Include:

The new asset must be purchased within three years of selling the old one (or up to one year before), although HMRC may sometimes extend this timeframe.

Both the old and new assets must be used in your business, which must be trading when you sell the old asset and buy the new one.

Claims for relief must be made within four years of the end of the tax year when the new asset was bought (or the old one was sold, if later).

So, if you are considering selling an existing business with the intention of investing in another business at a later stage, making use of this relief can be an effective way to defer your CGT liability arising from the sale. By rolling over the gain into a new qualifying investment, you can postpone the tax burden, allowing for greater financial flexibility and better cash flow management as you plan your next business venture.

Take Advice to Manage Your CGT Liability

The experienced tax specialists at TAG Accountants are on hand to provide expert guidance on effectively managing your CGT liabilities.

With that in mind, if any of the matters discussed above are relevant to your personal or business circumstances, we strongly encourage you to contact us for tailored advice. You can arrange a consultation by clicking HERE or by calling us directly on 01902 783172.

We are dedicated to guiding you through these tax changes, helping you make well-informed decisions to optimise your financial position, and very much look forward to hearing from you.

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Capital gains tax - what are the key changes? - TAG Accountants Group

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Key changes to Capital Gains Tax explained: new rates, upcoming increases, rollover relief, and expert advice to manage liabilities effectively.

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Making Tax Digital for Income Tax is coming

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Making Tax Digital for Income Tax is coming

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Making Tax Digital for Income Tax (MTD for IT) launches April 2026, affecting sole traders and property businesses with income over £50,000. Businesses will need MTD-compatible software to submit quarterly digital reports to HMRC. The article also covers online trading tax obligations through platforms like Amazon/eBay, and ATED requirements for property companies. Early preparation and professional guidance are recommended for a smooth transition to the new digital tax system.

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Making Tax Digital for Income Tax - TAG Accountants Group

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Stay informed about Making Tax Digital for Income Tax: Learn who’s affected, key deadlines, and essential updates for Amazon/eBay traders and ATED requirements.

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Critical 2025 UK Tax & Business Changes Alert

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Critical 2025 UK Tax & Business Changes Alert

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Major reforms affecting:

Companies House requiring new ID verification for directors

Holiday let tax benefits abolished

Non-dom tax status completely restructured

These changes significantly impact compliance requirements and tax benefits for businesses, property owners, and international residents. Expert guidance available to navigate these transitions effectively.

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Key Changes for Companies House, Holiday Lets and Non Doms

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Key changes affecting Companies House users, holiday let owners & non-doms. New ID verification, FHL regime abolition & tax reforms require immediate action.

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Securing Your Business Name, HMRC Interest Hikes, and Personal Tax Accounts

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Securing Your Business Name, HMRC Interest Hikes, and Personal Tax Accounts

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Ensure robust protection for your business name, navigate HMRC's 2025 interest rate hikes, and learn the advantages of using a Personal Tax Account. Find out the limitations of Companies House registrations, the benefits of the National Business Register, and guidance on securing your brand. Get the low down on HMRC's impending rise in interest charges for late tax payments and the disparity with repayment rates. See how a Personal Tax Account can simplify tax management by consolidating all tax-related information and services in one secure, online platform.

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Secure Your Business Name, Manage HMRC Interest Hikes, and Simplify Taxes with a Personal Tax Account

This month, TAG Accountants takes a closer look at how you can more effectively safeguard your business name from competitors and unscrupulous individuals.

We also issue a timely warning regarding the recent rise in HMRC interest rates and strongly encourage you to set up your Personal Tax Account, an invaluable tool designed to simplify your interactions with HMRC and make managing your tax affairs easier.

Protect your business name

As business owners, we often focus on evaluating and protecting our financial position and trading performance. However, we can sometimes overlook one of our most valuable and vulnerable assets, our business name.

Many businesses mistakenly believe that registering with Companies House is sufficient for protecting their name. In reality, Companies House only checks for exact matches to registered company names and does not take into account trading names, sole traders, or brand names. This limited protection can leave businesses exposed to legal disputes and the risk of costly rebranding exercises, which often cause significant stress and consume considerable time and resources.

Thanks to our connection with the TAG Community, we are pleased to offer our clients discounted access to the National Business Register (NBR). For over 40 years, NBR has supported UK businesses in reducing the risks associated with name disputes and enforced rebranding through its comprehensive Business Name Protection Service. This service not only helps protect your name and brand but also provides cover for legal costs incurred when pursuing third parties who may have used your business name or brand without permission.

If you are interested in this service, please feel free to contact us to find out more.

HMRC interest rate increases

From 6 April 2025, HMRC interest rates on the late payment of tax will increase by 1.5% across all tax types. As a result of this adjustment, the rate of interest charged on overdue tax will rise from the current base rate plus 2.5% to base rate plus 4.0%. HMRC applies late payment interest automatically, and it continues to accrue on any outstanding tax liabilities from the due date until the full amount has been settled.

In contrast, and arguably unfairly, the rate of interest paid by HMRC on tax repayments will remain unchanged. At present, repayment interest is calculated at the base rate minus 1%, subject to a minimum rate of 0.5%. This disparity means taxpayers face significantly higher charges for paying late than the compensation they receive when HMRC delays repayments.

Benefits of setting up a Personal Tax Account

A Personal Tax Account, also known as a PTA, enables you to manage a wide range of tax-related matters online, including reviewing your tax codes, claiming refunds, and updating your personal details. The account is secure and brings all of your relevant tax information together in one convenient location. If you have not yet registered for one, it is certainly worth taking the time to consider doing so.

The Personal Tax Account provides a practical and efficient alternative to contacting HMRC by telephone or by post, which, as many will know, can often be a time-consuming and frustrating experience.

Although every individual taxpayer in the United Kingdom is allocated a Personal Tax Account, you must first register through the Government Gateway in order to access and use the service. Please be aware that identity verification may be required as part of the registration process.

At present, the following services are available via your Personal Tax Account:

checking Income Tax estimates and tax codes

completing, sending, and viewing your personal tax return

claiming a tax refund

checking your Child Benefit

checking your income for the previous 5 years

checking how much Income Tax you paid in the previous 5 years.

checking your State Pension

checking if you may benefit from paying voluntary National Insurance Contributions

tracking tax forms that have been submitted online

checking or updating your Marriage Allowance

telling HMRC about a change of name or address

checking or updating benefits you get from your employer, e.g., company car details and medical insurance.

finding your National Insurance number

finding your Unique Taxpayer Reference (UTR) number

checking your Simple Assessment tax bill

You can set up your PTA online via the following link:
https://www.gov.uk/personal-tax-account
TAG Accountants - a source of great tax and business advice

As you can see, our goal is to support our clients in running their business effectively, to keep them well informed about the latest developments, and to offer practical guidance that can help make their lives simpler and more manageable.

We warmly invite you to read what our clients have said about the exceptional service we provide by visiting the testimonials section on our website.

Then, if you would like to discover how TAG Accountants can assist you and your business, we would be delighted to hear from you. You are welcome to book an appointment with a member of our experienced tax services team at TAG Accountants Group in Wolverhampton by calling 01902 783172. Alternatively, you can complete our online contact form, and a member of our team will be in touch with you shortly.

We look forward to the opportunity to support you.

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Safeguarding your business name - TAG Accountants Group

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Protect your business name, prepare for HMRC interest rate hikes, and streamline taxes with a Personal Tax Account. Timely strategies to safeguard your assets!

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What's Coming from HMRC Following Legislation Day

HMRC’s recent Legislation Day introduces several important tax changes. Key highlights include major updates to Making Tax Digital (MTD) for Income Tax, new rules for Inheritance Tax (IHT), and continued efforts toward digitizing UK tax administration. These changes aim to simplify compliance, modernize processes, and ensure taxpayers are prepared for the evolving tax landscape. Staying informed is vital, as these updates could impact both individuals and businesses in the coming tax year.

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Legislation Day Examined - TAG Accountants Group

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HMRC’s Legislation Day brings big changes. Our expert summary covers MTD for Income Tax, new IHT rules, and HMRC’s digital plans. Stay informed and prepared.

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Get a full round up of some tax essentials for this year including changes to child benefit, P11 deadline dates and why you should think about filing your tax return early for once!

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Tax essentials for 2025 - TAG Accountants Group

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Get ahead with early tax filing, stay updated on Child Benefit changes, and meet P11D deadlines. Essential UK tax tips for 2025 to save time and money.

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Self Assessment and Higher Rate Tax Guide

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Self Assessment and Higher Rate Tax Guide

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Get the low down on Self Assesment tax returns and solve the mysteries of the higher tax rate.

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Guide to Self Assessment Tax Returns and Higher-Rate Income Tax

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Find out if you need to complete a tax return and when higher tax rates apply. Learn about income thresholds and how to manage your tax obligations.

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HMRC will intensify checks on private-use adjustments in self-assessment expense claims; ensure costs are “wholly and exclusively” for business and keep robust records.

From April 2026, Statutory Sick Pay becomes payable from day 1 and the earnings threshold is removed; low earners get the lower of 80% of pay or the SSP rate—employers should budget, update payroll, and train teams.

Winter Fuel Allowance for those earning over £35,000 in 2025/26 will be clawed back: via PAYE code changes in 2026/27 or through Self Assessment by 31 Jan 2027.

Beware promoters of SDLT reclaims on dilapidated properties; Court of Appeal (Mudan) confirms such properties are still residential for SDLT, risking full tax plus penalties and interest.

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HMRC Crackdowns and 2026 SSP Reforms - TAG Accountants Group

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HMRC targets private use adjustments, SSP reforms, winter fuel allowance clawback and SDLT reclaims on dilapidated homes. TAG Accountants can help.

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The 26 November Budget may bring significant tax changes. Key areas include:

Inheritance tax reforms (frozen nil rate bands, extended gifting rules)

Pension adjustments (reduced lump sums, restricted relief)

Capital gains tax increases

New property wealth taxes for landlords

Lower ISA limits

Advisable to review financial plans and seek professional advice before Budget Day to mitigate potential impacts.

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2025 Autumn Budget Preview - TAG Accountants Group

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With potential changes to inheritance tax, pensions, CGT, property taxes & ISAs in the coming Autumn Budget, get expert advice on protecting your finances.

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What you should jnow about Digital ID, cyber security, and key risks for charities

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What you should jnow about Digital ID, cyber security, and key risks for charities

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Navigating Digital ID, Cyber Threats, and Charity Sector Challenges – Essential November Updates for UK Organisations

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Digital ID, Cyber Security and Charity Risks - TAG Accountants Group

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All you need to know about Digital ID for Right to Work checks, rising cyber security threats with NCSC guidance, & Charity Commission risk assessments.

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Strategic business planning is positioned as an ongoing, high-impact process—not a yearly checkbox—that helps companies of any size adapt to market change and drive long-term, resilient growth. It argues many owners miss this value by treating planning as routine rather than using it as a real opportunity to transform direction and performance.

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Strategic business planning is more than an annual to-do item - it's a powerful process that can set the trajectory for a company's growth, resilience, and sustainable success. Businesses of all sizes, from startups to established firms, benefit from re-evaluating their path and adapting to changing market dynamics. Yet, many owners fall into the trap of treating planning as a routine exercise, rather than a genuine opportunity for transformation.

The Value of Strategy in an Ever-Changing World

A Harvard Business Review study found that companies with formal strategic plans are 12% more profitable than those without - a statistic that underlines the impact of clear, intentional direction. But strategy isn't just about profit. It's also about preparing for uncertainty, aligning teams, and fostering innovation. In 2024, the Federation of Small Businesses reported that 38% of UK small businesses faced growth obstacles attributable to a lack of strategic focus, skills gaps, or difficulty accessing specialist advice.

What Does Strategic Planning Involve?

At its heart, strategic planning is about defining where you want your business to go, and creating a flexible but focused roadmap to get there. It involves:

Vision Setting: What do you want to achieve in both the short and long term?

Performance Assessment: Where are your current strengths and weaknesses?

Opportunity Analysis: What trends or risks will affect your path?

Goal Alignment: Are objectives measurable, realistic, and aligned with broader ambitions?

Action Planning: Who is responsible for what, and how will progress be measured?

Crucially, the process is iterative - successful businesses revisit and adjust their strategies regularly.

Challenges for SMEs and Startups

Startups and small businesses often face unique barriers. Time is at a premium, resources are limited, and founder expertise may not cover every aspect of modern business management. According to Companies House, over 50% of new UK businesses fail within five years, with poor planning cited as a common root cause.

To bridge this gap, many business owners seek external support for planning, performance tracking, and impartial advice. Services such as business advisors can provide structure, challenge assumptions, and help translate ideas into actionable plans. Advisors help distill complex ambitions into "Plan on a Page" frameworks, offering practical clarity and facilitating regular progress reviews.

The Role of Performance Improvement

A robust strategy isn't just about setting goals - it's about monitoring progress and seizing opportunities for improvement. Some firms, such as TAG Accountants Group, offer performance measurement systems that provide plain-English analysis of a company's key numbers. These systems not only highlight strengths and weaknesses but suggest focused action plans and forecast the impact of performance improvements over the next 12 months.

Thoughtful performance review ensures that accounting is not just an administrative obligation but a source of powerful business insight. You can find out more about how strategic improvement ties into wider accounting services on the main firm overview.

Business Consulting and Coaching: Beyond the Balance Sheet

When fast change, new markets, or operational challenges arise, business owners frequently need targeted support. Consulting services help businesses overcome specific problems quickly, drawing on expertise that may not exist internally. Meanwhile, coaching empowers owners and key staff to develop new skills, adapt processes, and lead growth confidently.

Accessing these services, especially as a first-time business owner, makes a tangible difference. For those unsure where to start, resources on first-time business support services provide helpful context and actionable next steps.

The Importance of Tax Planning and Compliance

No business strategy is complete without consideration of tax efficiency and compliance. The UK tax landscape is complex, with evolving regulations impacting profit margins, investment, and risk. Firms that integrate tax planning into their strategy can often maximise reliefs and manage money more efficiently, freeing up capital for reinvestment.

As your business grows, services such as auditing and outsourced finance may also become relevant, helping to streamline operations and ensure external confidence.

Industry Statistics in Context

Only 46% of UK SMEs currently have a documented, regularly reviewed business plan (FSB, 2024).

Of businesses that fail, 82% blame cash flow - often a sign of missing, weak, or outdated strategies (Office for National Statistics).

Companies that use regular business coaching report a 20% increase in productivity and 71% improvement in business management skills (International Coach Federation, 2023).

These figures illustrate why even the most entrepreneurial businesses benefit from pausing to plan - with or without outside help.

Practical Tips for Effective Strategic Planning

1. Start with honesty: Assess where your business is today without sugarcoating weaknesses.

2. Set clear, actionable objectives: Use the SMART framework - Specific, Measurable, Achievable, Relevant, Time-bound.

3. Seek external perspective: A fresh pair of eyes (advisor, coach, or peer) can spot blind spots and validate ideas.

4. Embrace ongoing review: Schedule regular intervals to revisit the plan and adjust for market changes or new priorities.

5. Invest in systems: Adopt reporting tools that turn data into insight - don't just file accounts for compliance.

For those interested in more comprehensive support, services like business coaching can equip owners and teams with the mindset and skills needed for ongoing growth.

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Unlocking Business Growth: The Power of Strategic Planning and Advisory Services

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Unlocking Business Growth: The Power of Strategic Planning and Advisory Services Strategic business planning is more than an annual to-do item - it's a powerful process that can set the ...

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Bookkeeping - Clean up your accounting system

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Bookkeeping - Clean up your accounting system

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Your time for a bookkeeping clean up!

Are your accounts ready for the year ahead? 🤔

Old unreconciled items in your sales and purchase ledgers can hide what’s really going on in your business. A quick tidy‑up at the start of the year can make a big difference to your decision‑making and cashflow.

TAG Accountants can help clean up your system and keep it that way ✅
Find out more: https://tag-agl.com/your-trusted-accountant-in-wolverhampton/

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Bookkeeping - Start the year with clean books 📊✨

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🎯 TAG Accountants: Your Strategic Business Partners

Balance & Harmony in Business ⚖️✨

Success isn't just about keeping the books balanced – it's about creating harmony between your financial reality and your business vision.

What We Offer: 📊 • Strategic business advisory services • Technology-driven financial solutions • Personalized expertise tailored to your goals • Growth planning and implementation support • Forward-thinking financial guidance

Why Choose TAG? 💡 We combine cutting-edge accounting technology with hands-on strategic advice to help your business not just survive, but thrive. Think of us as your financial co-pilot, helping you navigate complex decisions and identify opportunities for sustainable growth.

Ready to Transform Your Business Strategy? 🚀

👉 Learn More: talk to a business advisor in wolverhampton

📍 Contact: TAG Accountants 📞 Get in touch to discuss your business goals

#BusinessAdvisors #AccountingServices #StrategicPlanning #UKBusiness #SmallBusiness #FinancialGrowth #BusinessSupport

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⏰ Self-Assessment Tax Deadline - January 31st

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⏰ Self-Assessment Tax Deadline - January 31st

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🚨 DEADLINE ALERT 🚨

January 31st is your final date to file and pay any owed taxes for the previous tax year!

📋 NEED HELP?

TAG Accountants can help you meet the deadline with ZERO STRESS:

✅ Fast & accurate filing

✅ Maximize deductions

✅ Avoid penalties & interest

✅ Expert chartered accountants

⚡ Time is running out - don't wait!

📞 01902 783172

📧 info@tag-agl.com

🔗 tag-agl.com/taxation-services

#TaxDeadline #SelfAssessment #UKTax #AccountingServices

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Struggling with VAT, customs duties, and marketplace fees?

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Struggling with VAT, customs duties, and marketplace fees?

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While you're buried in spreadsheets, your competitors are scaling up.

TAG Accountants specializes in e-commerce numbers—Amazon, eBay, international sales, and more.

✅ Real-time insights
✅ Compliant tax handling
✅ Financial clarity

Focus on selling. We'll handle the numbers.

👉 Get Started

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5 Things You Need to Know About the 2026/7 Tax Year Changes

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5 Things You Need to Know About the 2026/7 Tax Year Changes

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VAT rates themselves aren’t changing for the 2026/7 tax year — but from 1 April 2026, a new VAT relief applies to donations of most business goods to charities. These donations will be excluded from the deemed supply rules, which simplifies the VAT treatment.

If your business regularly donates goods, this change could reduce your VAT liability, reduce admin, and make charitable giving simpler and more tax-efficient.

Need help checking eligibility and documentation? TAG Accountants can help.
📞 01902 783 172 | 🌐 www.tag-agl.com

More details (all 5 changes): https://tag-agl.com/news/key-tax-changes-2026-2027/
#VAT #CharityDonations #TaxYear2026 #BusinessTax #TAGAccountants #Wolverhampton

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🎯 Planning to retire in the next 5-10 years?

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🎯 Planning to retire in the next 5-10 years?

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Many business owners approach retirement without a clear picture of their pension pot or tax exposure.

At TAG Accountants, we help you build a comprehensive personal balance sheet so there are no surprises when it's time to exit.

Start planning your dream retirement today 👇

🔗 https://tag-agl.com/sale-acquisition-and-exit-planning/

#RetirementPlanning #BusinessExit #TaxPlanning

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Capital Gains Tax Rates Have Increased Significantly

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Capital Gains Tax Rates Have Increased Significantly

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Key Changes:

📈 Higher rate CGT: 20% → 24%
📈 Basic rate CGT: 10% → 18%
📉 Annual exemption: Down to £3,000 (was £12,300)

Real Impact:
A £200,000 gain now costs an extra £8,000 in tax

What's Changing:

Business Asset Disposal Relief: 14% (25/26) rising to 18% (26/27)

Employee Ownership Trust relief: Cut from 100% to 50%

IHT thresholds frozen + Business Property Relief capped

⏰ Critical Timing:
Effective CGT planning requires 6-12 months of advance work—not weeks!

Who This Affects: ✅ Business owners planning to sell
✅ Property investors
✅ Anyone with significant asset gains
✅ Those considering exit strategies

📖 Full Detailed Guide:
https://tag-agl.com/news/cgt-rate-increases-2025-business-owners-guide/

Includes: Business Asset Disposal Relief details, IHT interactions, legitimate planning strategies, comprehensive FAQ section

Need Advice?
📞 TAG Accountants: 01902 783172
🌐 www.tag-agl.com

Strategic tax planning can save you tens of thousands. Don't wait until sale day.

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Capital Gains Tax Increases | TAG Accountants Group Wolverhampton

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Is Your Business Ready to Run Without You? ☀️

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Is Your Business Ready to Run Without You? ☀️

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Dreaming of a summer holiday but worried about what happens to the business while you're away? That worry is one of the most common things we hear from business owners — and it usually points to the same root cause: the business is still too dependent on you personally.

The solution is systemisation. When you have the right processes, structures, and support in place, your business can keep running smoothly whether you're in the office or on a sun lounger in Spain. 🏖️🌴

At TAG Accountants, we work with business owners to help them build smarter, more structured operations — giving them the confidence and freedom to actually take time off.

This summer, let's make sure your business is ready to run without you. 💼✨

#TAGAccountants #BusinessAdvisor #SystemiseYourBusiness #WorkSmarter #BusinessOwner #SummerHoliday #WorkLifeBalance #Wolverhampton

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Employment Rights Act — 4 Things You Need to Know (No.4): Trade Unions & Regulatory Enforcement ⚖️👥

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Employment Rights Act — 4 Things You Need to Know (No.4): Trade Unions & Regulatory Enforcement ⚖️👥

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The regulatory landscape is shifting toward more proactive enforcement and stronger union rights.

Trade Union Access: Unions now have a statutory right to access workplaces to meet, recruit, and organise workers. It’s important to understand these rights and seek legal guidance if you’re unsure of your obligations. ✅

The Fair Work Agency: A new enforcement body is being introduced to investigate breaches of employment rights, labour exploitation, and non-compliance involving agency workers. 🔎

This signals a stricter regulatory environment—keeping HR compliant has never been more important. 📌

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Auditing is the Art of Finding What Others Miss 🔍

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Auditing is the Art of Finding What Others Miss 🔍

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✨ At TAG Accountants, our expert auditors go beyond the surface to uncover insights, ensure compliance, and protect your business interests.

We examine the details that matter most—so you can have complete confidence in your financial reporting.

🔗 Learn More: https://tag-agl.com/auditing-and-assurance/

Tags: #Auditing #TAGAccountants #FinancialExcellence #BusinessAdvisory

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Is it time to review your subscriptions, standing orders, direct debits and recurring expenses? Are you paying for things you no longer need?

💡 Small savings add up to stronger cash flow — and a healthier business.

TAG Accountants can help you take stock and make smarter financial decisions.

📞 01902 783 172

#SpringClean #FinanceTips #CashFlow #TAGAccountants #SmallBusiness

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🚗 Mileage rates are shifting — are you claiming enough?

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🚗 Mileage rates are shifting — are you claiming enough?

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From the Summer Savings package, the new mileage position is one to watch if you reimburse staff or claim business mileage yourself. The updated mileage rate applies from 6 April 2026 (start of the 2026/27 tax year). If you’ve already claimed mileage since then, you may be able to reclaim/adjust at the new rate for eligible mileage from that date.

#Mileage #BusinessMileage #UKTax #Expenses #Payroll

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🔎 Dividends just got more “visible” to HMRC 💷

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🔎 Dividends just got more “visible” to HMRC 💷

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TAG Accountants Group notes increased HMRC attention on close company dividends, with additional Self Assessment reporting details expected for directors (including company name + registration number, dividends received, and highest percentage shareholding held during the year).

There’s also a GBP 60 penalty mentioned for failing to provide required information — so it’s worth making sure dividend vouchers, board minutes, and records are clean and consistent. ✅

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August is a great time to review potential tax relief on equipment and vehicle purchases before the next fiscal season gets busy. 🚚📋

TAG Accountants provides proactive tax planning so you can understand likely liabilities ahead of year-end and identify opportunities across Income Tax, Corporation Tax, CGT, IHT and VAT. FREE initial consultation available.

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🚨 MTD for Income Tax is live — first quarterly deadline: 7 August 2026 📅

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🚨 MTD for Income Tax is live — first quarterly deadline: 7 August 2026 📅

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If you’re self-employed or a landlord and your qualifying income exceeded GBP 50,000 in 2024/25, you’re in the first wave. You’ll need to keep digital records and send quarterly updates to HMRC using compatible software.

Read the full TAG update (includes dividend tax 2026/27 + benefits in kind changes) on our website.
#MTD #UKTax #SelfEmployed #Landlords #Bookkeeping

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☀️ The Summer VAT Cut: Don’t miss the window!

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☀️ The Summer VAT Cut: Don’t miss the window!

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A temporary 5% VAT rate applies from 25 June to 1 September 2026 on qualifying family-focused activities (as outlined in the package).

If you’re in hospitality, leisure, tourism, or you sell eligible admissions/tickets/meals, this could impact summer promotions, pricing decisions, and VAT coding.

#VAT #UKVAT #Hospitality #Tourism #Leisure #TaxUpdate #BusinessPlanning ☀️📌