Author name: Pat Sharma FCA, ACCA

Pat Sharma FCA, ACCA Pat Sharma is a Fellow Chartered Accountant (FCA) and ACCA-qualified tax advisor with over 15 years of experience supporting small businesses, contractors, landlords, and limited companies across London. As the founder of Brayan & Spencer Associates, Pat specialises in proactive tax planning, cloud accounting, and HMRC compliance for UK businesses.

MTD for Income Tax

MTD for Income Tax: Does It Apply If You Have Rental Income and Self Employment?

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Short answer: Almost certainly yes, and there is a detail in how the system works that most people in your position do not find out until it is too late to prepare properly.  If your gross income from self-employment and property combined exceeded £50,000 in the 2024/25 tax year, Making Tax Digital for Income Tax has applied […]

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MTD for Income Tax: Are You Ready for the 7 August 2026 Deadline?

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If you earn over £50,000 from self-employment or property, your first Making Tax Digital for Income Tax quarterly update is due by 7 August 2026. Here is what you need to do before that deadline arrives. The Tax Reporting Change That Is Already in Effect Since 6 April 2026, Making Tax Digital for Income Tax

MTD for Income Tax: Are You Ready for the 7 August 2026 Deadline? Read More »

Accountants in London

Why UK Businesses Are Turning to Professional Accountants in London in 2026

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Running a business in London in 2026 means managing more financial complexity than ever before. HMRC’s digital reporting requirements have expanded, Corporation Tax rates have changed, Making Tax Digital for Income Tax launched in April 2026, and operating costs continue rising across every sector.  Many businesses are generating strong revenue but still struggling financially not

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Capital Gain tax

HMRC 2026 Capital Gains Manual Changes and Their Impact on Property Income Reporting 

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Many UK landlords are now entering a new phase of tax reporting. What was once an annual task completed around the self-assessment deadline is gradually becoming a year-round process shaped by digital reporting rules and stricter compliance expectations.  The April 2026 updates to HMRC’s Capital Gains Manual, alongside the rollout of Making Tax Digital for Income Tax self-assessment (MTD ITSA), introduce important changes for

HMRC 2026 Capital Gains Manual Changes and Their Impact on Property Income Reporting  Read More »

HMRC mileage allowance increase 2026

HMRC Mileage Allowance Increase 2026/27: Employees Can Now Claim 55p Per Mile for Business Travel

Leave a Comment / HMRC News /

For millions of employees and self-employed professionals across the UK, business travel is a regular part of work. Whether you are visiting clients, attending meetings, travelling between job sites, or managing field operations, using your personal vehicle for work can quickly become expensive. HM Revenue and Customs (HMRC) has now updated the approved mileage rates

HMRC Mileage Allowance Increase 2026/27: Employees Can Now Claim 55p Per Mile for Business Travel Read More »

accountancy-firm-london

Best Accountancy Firm London: What UK Businesses Should Expect From Modern Accountants in 2026 

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Running a business in London is becoming more financially demanding every year. Rising operational costs, tighter HMRC regulations, payroll responsibilities, VAT compliance, and digital accounting requirements are creating serious pressure for small businesses, startups, contractors, and limited companies across the UK.  Many business owners only contact an accountant during tax season. Unfortunately, this reactive approach

Best Accountancy Firm London: What UK Businesses Should Expect From Modern Accountants in 2026  Read More »

Accountant London

Smart Financial Planning Tips from London Accounting Experts in 2026 

Leave a Comment / Tax Save Tips /

Financial planning has become one of the biggest challenges for UK businesses in 2026. Rising operating costs, stricter HMRC compliance requirements, Making Tax Digital updates, inflation pressure, and changing tax rules are forcing businesses across London to rethink how they manage money.  Many business owners still believe accounting only matters during the tax season. Modern financial planning now plays a

Smart Financial Planning Tips from London Accounting Experts in 2026  Read More »

Making Tax Digital UK

MTD for Income Tax Is Already Live: What UK Sole Traders and Landlords Need to Fix in 2026 

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If you are a sole trader or landlord in the UK, there is a good chance you have already received emails, software alerts, or HMRC letters about Making Tax Digital for Income Tax (MTD for IT).  And for many taxpayers, the first reaction has been:  “What exactly am I supposed to do now?”  Since April 2026,

MTD for Income Tax Is Already Live: What UK Sole Traders and Landlords Need to Fix in 2026  Read More »

Making Tax Digital for Income Tax

MTD Is Not Just Digital Filing: The Real Challenges UK Businesses Are Still Overlooking 

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Most UK business owners think Making Tax Digital (MTD) just means switching from spreadsheets to software and submitting tax updates online. It sounds straightforward to enter your numbers, click submit, and you’re done.  But in reality, it’s not that simple.  Making Tax Digital for Income Tax changes how you manage your finances throughout the year, not just at tax time. It expects your

MTD Is Not Just Digital Filing: The Real Challenges UK Businesses Are Still Overlooking  Read More »

Joint Rental Income Under MTD

Joint Rental Income Under MTD: How HMRC Expects You to Split and Report Earnings 

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If you jointly own a rental property, you may already be splitting the income and declaring it each year. On the surface, it seems straightforward.  However, with the introduction of Making Tax Digital, the way rental income is recorded and reported has changed in a way that many landlords are still adjusting to.  Under Making Tax Digital for

Joint Rental Income Under MTD: How HMRC Expects You to Split and Report Earnings  Read More »

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