Author: Glenn

You must tell HMRC if you no longer need to file a tax return. Whether you have stopped trading or no longer rent out property, notifying HMRC early avoids penalties and keeps your records up to date.

If your circumstances have changed and you believe you no longer need to complete a self-assessment tax return, then it is important to notify HMRC as soon as possible. This gives HMRC time to review your request and update your records before the 31 January filing deadline. Penalties could be incurred if you do not inform HMRC in a timely manner.

You may no longer need to submit a tax return if, for example:

• you’ve stopped being self-employed;
• you no longer rent out property; or
• you no longer pay the High Income Child Benefit Charge.

If you are unsure, HMRC provides an online tool to help you check if you need to submit a self-assessment return. This can be found at https://www.gov.uk/check-if-you-need-tax-return

You can notify HMRC that you no longer need to submit a tax return by signing in to your online account and completing an online form to close your self-assessment account, You can also use this form to request removal from self-assessment for a particular tax year. You will need to have your National Insurance and Unique Taxpayer Reference (UTR) numbers in order to complete the form. Alternatively, you can contact HMRC by phone or post if you are unable to use the online service.

After submitting your request, you can track its status online. HMRC will confirm in writing whether you still need to file a self-assessment tax return.

Your pension scheme type affects your tax relief. Workplace pensions offer tax benefits, but the method used, net pay or relief at source, changes how and when you get them. Your employer or pension provider should confirm which arrangement your scheme uses, and this will affect both your payslip and potential tax relief.

Net pay arrangement

In a net pay arrangement, your pension contribution is taken before tax is calculated. This reduces your taxable income, meaning you automatically receive full tax relief at your highest income tax rate. This can be the basic, higher or additional tax rates. The amount shown on your payslip includes both your contribution and the tax relief applied.

However, if you do not pay tax, for example because you earn below the personal allowance, you will not receive any tax relief under this method.

Relief at source

With the relief at source method, your pension contributions are taken after tax, and National Insurance is deducted from your pay. Your pension provider then adds 20% basic rate tax relief directly into your pension pot. This means your payslip will show only your contributions and not the tax relief.

If you are a higher or additional rate taxpayer (or pay the higher or top rate in Scotland), you can claim extra tax relief through your self-assessment return or by contacting HMRC.

You may need to submit tax returns for someone who has died. As the personal representative, you are legally responsible for reporting income earned before and after death.

This person, known as the ‘personal representative’, is legally responsible for dealing with the deceased’s money, property and possessions. This includes reporting income earned both before death and income generated by the estate afterwards.

HMRC will inform the personal representative if self-assessment return is needed for the deceased. If so, they will send the necessary forms. To complete the return, the personal representative will need financial details such as:

• Bank and savings records
• Dividend statements
• Employment documents (P45 or P60)
• Pension and state pension information
• Income from property or self-employment

The tax return must be sent by post to meet the deadline provided in HMRC’s letter. The personal representative can also appoint an accountant or other professional to assist in compiling the tax return.

If the estate continues to generate income (e.g., from rent or investments), the personal representative may also need to:

• Register with HMRC
• Submit a separate tax return for this income

Artificial intelligence (AI) is no longer something for big tech firms alone – it is becoming a practical tool for small businesses, especially when it comes to financial management and forecasting.

We can now harness AI tools to speed up data capture, analyse financial trends, and identify opportunities for growth or savings. This is not about replacing people with machines but about making better use of real-time insights to support your decisions.

Here are just a few ways AI is being used to improve the services we offer:

• Automated bookkeeping: AI can process bank feeds, receipts, and invoices more quickly and with fewer errors.
• Cash flow forecasting: Smart systems can identify seasonal trends or highlight risks before they affect your business.
• Performance dashboards: AI-powered platforms can create dynamic reports, giving you a visual summary of profits, margins, and costs.
• Client support: AI tools can help answer common queries faster and track action points across your business operations.

As accountants, we are increasingly integrating these technologies into our advisory work, giving clients deeper insights and more proactive support. The value we offer lies not just in compliance, but in helping you understand the bigger picture.

If you are wondering how AI might benefit your business, or how we are using these tools to improve the service you receive, please do get in touch. We are here to help you get the best from both technology and human expertise.

From 2025, Companies House is rolling out new identity verification requirements for directors, people with significant control (PSCs), and anyone forming or managing a UK company. These changes form part of the Economic Crime and Corporate Transparency Act and are designed to reduce fraud and increase confidence in UK companies.

If you are involved in running a business, you may soon need to prove your identity either directly through Companies House or via a registered agent such as your accountant. Without completing verification, you will not be allowed to register a company or take up a new role as a director or PSC.

These rules apply to:

• Company directors (existing and new)
• Individuals with significant control (usually shareholders with 25% or more of shares or voting rights)
• Company formation agents
• Anyone filing information at Companies House on behalf of a business

The new system is already partially in place. Since April 2025, authorised agents can verify identities on behalf of their clients, but from a future date still to be announced, Companies House will require all key company officers to comply before filings will be accepted.

For business owners, this means a few practical actions:

• Ensure all directors and PSCs have current and valid photo ID.
• Decide whether you want to complete ID checks directly or use an authorised agent.
• Check that your company’s records at Companies House are up to date.

We expect enforcement and deadlines to follow later in the year, so it is wise to prepare in advance. If you are uncertain how these changes affect you, or how best to carry out the verification, we are happy to help.