News
Practice news, tax updates and deadlines from the Jackson Stapleton team.
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The Government’s Autumn Budget
The Chancellor, John Healey has delivered his Autumn Budget, announcing a raft of tax changes including a rise in the bank surcharge, a new founders’ relief, increases to the national living and minimum wages, and stronger HMRC powers to recover unpaid tax. A series of announcements were made the day before the Budget, such as…
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Announcement
We are pleased to announce a number of changes within our Grimsby practice, with Amber Lightfoot taking the role of Regional Partner. Amber has been with Jackson Stapleton Accountants for six years, running our Scunthorpe office for the last two. She brings this experience to Grimsby, where she will lead the team in continuing to deliver high…
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Announcement
We are pleased to announce that Harry Smith is joining the Lincoln practice as Regional Director. Harry has already been working within the Lincoln office, getting to know our clients and familiarising himself with their needs. Harry has been with the business for over nine years, beginning his career at our Scunthorpe office before spearheading the …
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Employment Rights Act 2025
The Employment Rights Act 2025 will affect probation periods for all new hires who began their employment from 1st July 2026. From 1st January 2027, employees will be able to claim unfair dismissal after six months’ service, rather than the current two-year qualifying period. What to do to keep your business protected: Review Contracts: A 3-month probation …
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Advisory Fuel Rates
Please note that HMRC has updated its Advisory Fuel Rates, effective from 1 June 2026. These rates apply only to employees who use a company car and are used for: Reimbursing business mileage travelled in a company car. Calculating the amount employees must repay for fuel used for private journeys. New Rates from 1 June …
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Temporary Reduction in VAT
Last week, the Chancellor, Rachel Reeves announced a temporary reduction in VAT from 20% to 5% from when schools break up in Scotland at the end of June until children return to classrooms in England, Wales and Northern Ireland on 1 September. The discount, which will be up to businesses to pass on to customers, …
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Mileage Allowance Increase
Yesterday, the Chancellor, Rachel Reeves announced you’ll now be able to claim tax relief of 55p per mile for the first 10,000 miles driven in the tax year. This is an increase of 10p from 45p per mile. It comes as the Chancellor has announced a support package designed to help consumers with rising living …
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Jackson Stapleton Accountants and Broughton Lambert Accountants – Team Update Following Merger
Following the recent merger of Broughton Lambert Accountants and Jackson Stapleton Accountants, we are sharing an update regarding a valued member of our team. Richard Birch has decided to take this opportunity to take a step back and consider whether he wishes to return to career paths from his past. Richard made this decision around …
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Broughton Lambert Accountants Limited
We are thrilled to announce that Jackson Stapleton Accountants has acquired Broughton Lambert Accountants Limited, effective immediately. We are honoured to continue the excellent work that Pete and his team have carried out over the years and look forward to serving you with the same dedication and expertise. At Jackson Stapleton Accountants, we believe in …
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Changes to Companies House Fees
Companies House have announced there will be changes to their fees from 1st February. Details of these changes can be found using the link below. Companies House Fees This will result in fees we pay on behalf of clients increasing, therefore from 1st February all associated filings will be charged accordingly. If you have any …
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Inheritance Tax Relief Cap
The government has confirmed that the threshold for Agricultural Property Relief (APR) and Business Property Relief (BPR) will rise from £1m to £2.5m when the policy takes effect in April 2026. The revised approach will be set out through amendments to the Finance Bill 2025. These will increase the value of assets eligible for 100% …
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Crypto users forced to share account details with tax officials
People in the UK who buy cryptocurrency now have to share their account details with the tax authorities or risk being fined. This rule started on 1 January. HMRC wants to make sure people pay the correct tax on crypto, including capital gains tax when they sell at a profit. To do this, HMRC will …
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The Government’s Autumn Budget
Earlier today the Chancellor, Rachel Reeves delivered the government’s Autumn budget. The headline figure: The Budget raises taxes by £26bn in 2029-30 – here’s how: Freezing tax thresholds on personal tax and employer National Insurance contributions thresholds for three years from 2028-29 – raising £8bn Pensions: Taxing salary-sacrificed pensions contributions – £4.7bn Property, savings and …
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Making Tax Digital (MTD) for Income Tax
From April 2026, taxpayers will be required to comply with MTD for Income Tax if their 2024/25 Self Assessment return shows more than £50,000 in combined gross income from sole-trader, self-employment and property. HMRC will issue a notification (mandation letter) to anyone who falls within the MTD requirements from that date. The first group of …
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Appointment of Shareholder, Harry Smith
Mark Jackson-Stapleton, Managing Director of Jackson Stapleton Accountants, is delighted to announce that Harry Smith has become a shareholder of the firm’s Retford branch. “I am incredibly proud to welcome Harry as a shareholder,” said Mark Jackson-Stapleton. “This appointment represents my long-term commitment to rewarding hard work and loyalty within our organisation. Harry has demonstrated …
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Companies House Fee Changes
It has been announced that from 1st February 2026, Companies House will be increasing the price of their services. The main fee changes which will affect our clients are detailed below. – the digital incorporation filing fee rising from £50 to £100 – the digital confirmation statement filing fee increasing from £34 to £50 – …
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Identity Verification Legislation – Limited Companies
From November 2025, Companies House will require identity verification for individuals connected to your company in order for us to file documents like Confirmation Statements, Accounts, Appoint Directors or Incorporate a New Entity. This applies to all directors and persons with significant control (PSCs). What this means for you: We will phone you when we …
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The Government’s Budget
The Chancellor, Rachel Reeves has announced that the Government’s budget will be delivered on the 26th of November. As always we will keep you up to date with what is announced and how it will effect you.
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Congratulations Amber!
Congratulations to our Client Partner, Amber on achieving her Level 4 AAT qualification 🎉 This is the last AAT qualification for Amber to complete ready for her to move onto her ACCA studies to become chartered ⭐
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Congratulations Safia!
Congratulations to our Senior Accountant, Safia on achieving her Level 3 AAT 🎉
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Companies House Scam Letter
We received a letter in the post today for a newly incorporated company. Please be vigilant if you receive letters for your company to your home address and if you are unsure of any letters then please send them to us and we will let you know. The letter is below so you can ensure …
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Announcement: New Client Partner at Our Lincoln Office
We are pleased to announce that Sarah Carruthers has been appointed as client partner at our Lincoln office. This follows the mutual decision for Chris Slight to leave the practice to pursue new challenges. We thank Chris for his contributions and wish him the very best in his future endeavours. Sarah is a fully qualified …
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Grimsby
We can finally announce more details about our office in Grimsby. We have acquired our Grimsby office from CRL Accounting and look forward to continuing the hard work demonstrated by all those at the practice. The details for our Grimsby office are detailed below: Jackson Stapleton Accountants 95 Cromwell Road Grimsby DN31 2DL Telephone number: …
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Big Announcement
We are pleased to share with you all that we are ready for our first day in our new Grimsby office on Monday. More updates will follow next week but for now we are very happy to share this news with you all. As always, thank you for your continued support.
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The Spring Budget
As you may already be aware, yesterday the Chancellor, Rachel Reeves, delivered the Government’s Spring Budget. There were no new tax policy announcements, however, a number of consultations were released, some of which had previously been announced at the Autumn Budget 2024. The consultations that are most likely to be of interest to taxpayers are …
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Double Cab Pick Up Classification
From 6 April 2025, most double cab pick ups will be taxed as cars, not commercial vehicles. This change affects how businesses deduct the cost of the vehicle and how employees are taxed on company car use. Companies would previously benefit from being classed as a commercial vehicle and so could claim generous tax allowances …
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National Apprenticeship Week
To mark national apprentice week, everyday this week we will have a Q&A with 4 of our apprentices, or members of staff who started their career with an apprenticeship on our social media pages. We will share all 4 on this news article. First up is our Client Partner, Harry Smith. Harry began his …
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Denis Fawcett
It is with deep regret that I share the sad news of the passing of Denis Fawcett, the founder of our Lincoln office, last week. For those clients who had the privilege of knowing Denis, you will no doubt remember his kindness, integrity and unwavering dedication to his clients. The very existence of our Lincoln …
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Child Trust Funds
New figures suggest £1.4bn belonging to 728,000 people is ready to be claimed in the form of a child trust fund now they have turned 18. Many do not know the accounts exist, according to a charity that traces lost funds. People born between September 2002 and January 2011 had a Child Trust Fund kickstarted …
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Scunthorpe Client Manager Update
I am writing to inform you of a change in our team structure for our Scunthorpe-based clients. As of today, Amber Lightfoot will formally become your Client Manager. This follows Harry’s relocation to our Retford office in September 2024. Amber has been a valued member of our practice for over four years. She has worked closely with …
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The Autumn Budget
As you may already be aware the Chancellor delivered the Autumn Budget this afternoon (30 October 2024). The main points which will be relevant to our clients are listed below. National Living Wage (NLW) will rise by 6.7% to £12.21 per hour. 18 to 20 year old’s NLW will rise by 16.3% to £10 per …
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Rebrand
There are exciting times ahead at our Lincoln office ⭐ Monday will see Fawcett & Co Accountants rebranded to Jackson Stapleton Accountants. The outside of the office has been painted and new signage will commence from today and conclude on Monday.
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Trivial Benefits
Did you know you can take tax free money from your limited company? Read on to find out more… You don’t have to pay tax on a benefit for your employee if all of the following apply it cost you £50 or less to provide it isn’t cash or a cash voucher it isn’t …
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HMRC Warning
HMRC has issued a warning regarding Tax Credit renewal letters which 730,000 households will start to receive this week. The renewal notices will be sent out between May 2nd and June 19th, come in 2 types with less than 10,000 households needing to take action. The first type is any renewal notice that has a red line …
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2024/25 Tax Allowances
With the new tax year having began earlier this month, here’s an overview of tax allowances for the 2024/25 tax year. ISA Allowance is £20,000 across all ISAs, with the Lifetime ISA allowance being £4,000. Annual Pension Allowance is £60,000. Junior ISA Allowance allows you to save up to £9,000 for a child. Personal Allowance is …
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Xero
Yesterday some of our team were in Milton Keynes to visit Xero HQ and meet Andy and Claire who form part of our team at Xero. This visit was the start of a working relationship between Jackson Stapleton Accounting Group and Xero. Over the next 6 months, we will see the adaptation of Xero as a …
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The Spring Budget
The Government’s spring budget has now been announced and Mark has explained each point that was announced in a new podcast episode. Head over to our YouTube channel to listen to it (Jackson Stapleton Accountants – YouTube) or find us on Spotify (Mark’s Thoughts | Podcast on Spotify) and Amazon Music (Mark’s Thoughts Podcast on Amazon Music)!
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Companies House
It has been announced that from the 1st of May, Companies House will be increasing their fees for all of the services they provide. To view the new prices click the link: Changes to Companies House fees – Changes to UK company law. Please note if you have a Limited Company this will result in an increase in …
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HMRC
HMRC is now looking at landlords who incorporated their property business but have not reported a capital gain on their 2017/18 self-assessment tax return and are sending out letters. The letters ask the tax payer to check they have correctly calculated the tax relief available, along with HMRC guidance on technical areas and reliefs available to them, and …
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Scunthorpe United FC Club Partner
We are excited to announce that we are the main club partner of Scunthorpe United FC for the 2023-24 season! Keep a look out for updates and images on our social media pages. You can find us on Facebook, Twitter, Instagram, YouTube and LinkedIn. To read the full partnership release, click the link: Jackson Stapleton Accountants become …
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HMRC Scams
Please be aware that scam letters are starting to appear for overdue self assessment payments due to be paid to HMRC. These letters look very realistic so if you receive any correspondence from HMRC regarding overdue payments then please be vigilant. Here are some steps you can take to check if a letter is a scam …
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The Government’s Spring Budget 2023
Today the Chancellor, Jeremy Hunt announced the government’s spring budget. The main points announced were: The energy price guarantee will remain for 3 months. From the 1st August, duty on draught in pubs will be up to 11p lower. Fuel duty will be frozen and the 5p reduction will remain for a further year. Corporation …
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Big Announcement!
JSA has formed a strategic alliance with ECS Group to provide our clients with a free business finance comparison tool ???? This will make it easier for clients to find the best rates and save money when seeking business finance ???? More information to follow next week! Pictured are Mark Jackson-Stapleton, Managing Director of …
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New Service
As of February 2023, we will be introducing something new for clients, plus space permitting for those who are not clients of the practice. Our new service is for those whom are thinking of starting their own business, those who are new to business, or perhaps those whom feel they just need some help with …
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MTD ITSA Delayed
In December it was announced that MTD for ITSA (Making Tax Digital for Income Tax Self-Assessment) is being delayed for 2 years to give people more time to prepare and adapt to the new ways of working. The following changes were announced in the statement: A 2 year delay until April 2026 or mandatory MTD …
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The Government’s Budget
Yesterday, the Chancellor, Jeremy Hunt announced the government’s financial plans in the budget. The main points announced were: Personal Taxes – there will be a reduction in the 45p tax threshold for people paying the top rate of tax from £150,000 to £125,140. People earning more than £150,000 per year will pay just over £1,200 more in tax per …
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Dividend Tax
We are now starting to see reports regarding the Chancellor, Jeremy Hunt’s possible plans to increase dividend tax. Whilst this is currently only a rumour, we feel we should provide you with the details we know so far. Jeremy Hunt has reportedly asked officials to look at raising the dividend taxation rate, as well as cutting the tax-free …
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Bank of England Base Rate
The 0.75 percentage points increase from 2.25% to 3% means a £73.49 monthly rise for the average tracker mortgage, and £46.22 for the average standard variable rate (SVR) mortgage. Since December, when the base rate was 0.1%, the average monthly mortgage payment has increased £284.17 for the average tracker, and £178.70 for the average SVR.
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Changes to the Mini Budget
This morning, the Chancellor, Jeremy Hunt delivered a speech on the changes to the mini budget previously announced last month. The main changes announced were: No cuts to dividend tax rates Repeal of the easing of IR35 rules for the self-employed introduced in 2017 and 2021 No new VAT-free shopping scheme for overseas visitors to the UK …
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Financial Scams
It has been brought to our attention that there are many financial scams being attempted/taking place. Please be careful when you receive emails, text messages and phone calls. Some of the signs to look out for are as follows: The sender address/phone number – any text messages or phone calls received from a mobile number impersonating your bank, Royal Mail, NHS, …
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Payroll Reforms from April 2023
Today, the Chancellor, Kwasi Kwarteng has announced that the government will repeal Off-payroll legislation. The legislation was supposed to reform IR35 , but instead held businesses back. The IR35 reforms, which were introduced in the private and public sectors in 2017 and 2021 will no longer apply from April 2023. The original rules will now remain, and contractors will be …
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The Government’s Mini Budget
This morning, the Chancellor, Kwasi Kwarteng announced the government’s financial plans in the mini budget. The main points mentioned were: The cap on bankers’ bonuses has been lifted. Corporation tax rise has been scrapped. It was previously set to rise from 19% to 25%. The rise in National Insurance will be reversed as of 6 November. Duty rates for beer, cider, wine, and …
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UK Property Return Deadlines
Based on HMRC’s latest figures, approximately 20% of taxpayers who had gains to declare from UK residential property sales, failed to report and pay the capital gains tax (CGT) due on time in 2021/22. The CGT 30-day reporting and payment system for UK residential property came into effect on 6 April 2020. Although late filing …
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MTD ITSA Revised
Last week an update was given for MTD for ITSA (Making Tax Digital for Income Tax Self Assessment) reporting requirements. The update sets out the categories of income and expenses that are required to be reported in the quarterly updates. The categories are repeated in the end of period statements (EOPS) for the particular business. The …
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The Cost of Living
The Government’s plan to help people with the cost of living You may have seen that the Chancellor, Rishi Sunak has announced the government’s plans to help people with the cost of living. The plans bring together measures to provide support for people on low incomes whilst raising tax revenue from the profits made by …
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2022 Spring Statement
As you may be aware, the Chancellor, Rishi Sunak has announced the Spring budget. The key changes that may effect the clients of our practice are detailed below. The Chancellor announced the first cut to the basic rate of income tax in 16 years – from 20% to 19% – by the end of Parliament in 2024 …
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North Lincolnshire Covid-19 Grants
Various new Covid-19 grants have been announced by North Lincolnshire Council. You can find details of the grants below. Omicron Hospitality and Leisure Grant The Government have announced a one-off grant of up to £6,000 per premises to support eligible hospitality and leisure sector businesses due to the potential trading challenges brought in by the Omicron …
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Important Money Changes for 2022
As you may be aware, there will be many financial changes this year. The key changes that may effect the clients of our practice are detailed below. The National Minimum Wage will see an increase in April by the following amounts: National Living Wage for over-23s: from £8.91 to £9.50 an hour National Minimum Wage …
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£1billion Fund for Businesses
As many of you may be aware, the Chancellor, Rishi Sunak announced yesterday that there will be a £1billion fund to help businesses that have been affected by the rise in Covid cases, including leisure and hospitality. The main points detailed in the announcement are: Restaurants, bars, cinemas and theatres can apply for a grant …
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We Have an Announcement
Come and visit us in Lincoln! As many of you may be aware, we have recently posted on our social media regarding a big announcement. The time has finally come to tell you what that announcement is. In November 2021, we acquired Fawcett & Co in Lincoln. Fawcett & Co has been established for 40 years, employing 11 members of …
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Capital Allowances: Super Deduction
Please find below a short summary of a new scheme announced in the 2021 budget known as the “super deduction” and other changes to capital allowances. New Capital Allowances Offer For expenditure incurred from April 1st 2021 until 31st March 2023, any limited company can now benefit from three significant capital allowance measures: 130% super-deduction on plant and machinery. 50% …
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MTD for ITSA Postponed
As you may be aware, the government has postponed the start of MTD for ITSA by a year meaning that it will not start until 6 April 2024. MTD for general partnerships will now be postponed until 2025. The change to the tax year basis has also been delayed until at least April 2024. MTD for ITSA It …
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Dividend Tax and National Insurance Increase
As many of you may be aware, the government announced today that as of April 2022, both dividend tax and National Insurance will be increased by 1.25%. This is the biggest UK tax increase in 28 years meaning that someone earning £30,000 would be paying an extra £250 in tax per year, including the self …
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MTD for ITSA
In April 2023, HMRC will be Making Tax Digital for Income Tax Self Assessment (MTD for ITSA). This will require individuals with rental income above £10,000 to use software for their accounting and store their accounting records digitally. It also applies to sole traders and if the landlord is also a sole trader then that income is added to …
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Details of the Fifth SEISS Grant
The fifth Self-Employment Income Support Scheme (SEISS) grant is different from the previous SEISS grant. If HMRC think you are eligible, they will contact you from mid-July to give you a personal claim date. If eligible, claims can be submitted anytime from the personal claim date until the 30th of September 2021. What you should …
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New legislation targeting company directors who dissolve their business and leave staff and taxpayers out of pocket
On 12th May 2021, the Ratings (Coronavirus) and Directors Disqualification (Dissolved Companies) Bill was published. When the Bill receives Royal Assent it will amend various sections of the Company Directors Disqualification Act 1986. The Insolvency Service will be given the power to investigate directors of companies that have been dissolved. The process will no longer …
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Getting Your Practice Ready For MTD
Making Tax Digital will offer both significant administrative savings and allow HMRC to police the tax system more effectively. What is happening now? Businesses with taxable supplies in excess of £85,000 within a 12 month period have been required to join MTD for VAT since 1st April 2019. This means that for businesses now registering …
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