Letts Accounting & Taxation Solutions

A recent google review from one of my clients:

"I’ve been working with Mark for just under a year now, and honestly, the difference has been night and day compared to my previous accountant!

I run two businesses, and we’re currently in the very early stages of scaling one of them nationally - so the level of detail, clarity, and forward-thinking support I need is high. Mark has been exceptional across the board. He’s incredibly thorough, highly professional, and always accessible when I need him. But what really stands out is how personable and invested he is - he genuinely cares about the outcome, not just ticking boxes.

Before Mark, I was with a larger firm and constantly passed around different team members, often dealing with juniors and repeating myself. It felt reactive and disconnected. With Mark, it’s the complete opposite; consistent, proactive, and accountable.

I now genuinely refer to him as my “Chief Financial Officer / CFO.” I trust him to keep me sharp, challenge decisions when needed, and make sure we’re being forensic with our numbers at all times. He’s brought a level of structure and financial discipline that’s already had a meaningful impact (he's also slowly getting me out of my lazy habits!).

It genuinely feels like I’ve got someone in my corner now, and I’m looking forward to having Mark alongside me as we continue to grow the businesses!"

Matthew Burton

COMPANIES HOUSE CHANGES

There will be changes to the reporting requirements for small and micro-entities which will start from 1 April 2028, so no immediate things to worry about.
The only major change that will be implemented is that small and micro-entities will be required to file profit and loss accounts with Companies House, which was not previously required. However small and micro-entities will be able to opt out of having the profit and loss accounts published on the public register.

If you need to submit a 2025-26 tax return, you don't have to wait until January to complete and submit it. You can do this now, at a time that suits you.

Why submit now?:
1. You could get any tax refunds sooner if you're due one.
2. You will be able to budget for how much tax needs to be paid by 31 January if applicable.
3. Avoid the hectic January rush.
4. You have proof of income to help with any mortgage, loan or benefit applications.

Please feel free to contact me if you need any assistance with your 2025/26 tax return.

Statutory Sick Pay Changed From 6 April 2026.

Statutory Sick Pay is now payable from the first full day of sickness absence and is available to more employees. This change was introduced on 6 April 2026.

Statutory Sick Pay is available to all eligible employees regardless of their earnings (the Lower Earnings Limit has been removed).

Statutory Sick Pay is payable from the first full day of sickness absence (the three-day waiting period has been removed).

The rate of Statutory Sick Pay for all employees is calculated at 80% of their average weekly earnings or the flat weekly rate, whichever is lower.

Making Tax Digital (MTD) for income tax is now live. This means that sole traders and property owners with turnover in excess of £50,000 on their 2024/25 tax returns are required to make quarterly returns to HMRC.
This is something that shouldn't be ignored.
If you have any questions, please feel free to contact me.

Call now to connect with business.

Relevant life insurance offers a practical solution for structuring personal life cover. Premiums are typically allowable for corporation tax, are not treated as a benefit in kind and do not usually attract employer or employee National Insurance.
For people already paying for life insurance personally, this can represent a significantly more efficient way of funding the same level of cover.

Call now to connect with business.

🚨One week to go until Making Tax Digital!🚨

From 6 April, Making Tax Digital applies if your combined turnover from property and self-employment is over £50,000.

Don’t leave it to the last minute - sign up now and get set up with recognised software. ⬇️

https://makingtaxdigital.campaign.gov.uk/?&utm_source=f.co_hmrcgovuk&utm_medium=social&utm_campaign=mtd

For many company directors, how you choose to take income can make a meaningful difference to your overall financial position.

Balancing salary, dividends and pension contributions is often part of building a tax-efficient strategy, but the right mix will vary depending on individual circumstances and long-term goals.

With the end of the tax year approaching, it can be a good time to review whether your current approach is still working effectively for you and your business.

Sometimes small adjustments can have a positive impact over time.