P11D Season 2025
This annual requirement involves reporting certain benefits and expenses provided to employees that have not been subject to PAYE tax. Below is a guide to some of the most common and popular benefits that typically appear on a P11D. Company Cars and Fuel Company cars remain a staple benefit for employees, particularly for roles involving […]
Statutory Residence, considering your life
The changes are causing many people to question their UK tax residence and IHT planning provisions. The default basis of taxation for income tax and capital gains tax (CGT) for individuals is known as the ‘arising basis’. Where the arising basis of taxation applies for a tax year, individuals are taxed on their worldwide taxable income deemed to arise and […]
Making Tax Digital for Income Tax (MTD): the simple steps you need to take now!
MTD will require many landlords and self-employed individuals to keep digital records of income and expenditure relating to their businesses and rental properties. These records will form the basis of quarterly updates which will need to be submitted digitally to HMRC. The opportunity to get MTD ready is fast dwindling and here’s why it is […]
Kilsby Williams launch forensic accounting and expert witness team
The division will be led by Chris and existing partner Huw Sheppard who has many years’ experience in providing expert witness valuations. Chris joins the firm with a wealth of experience in forensic accounting and expert witness services. He is a Chartered Accountant who trained and qualified with a predecessor firm of PwC. Chris has […]
Changes being made to accounting standards
The Financial Reporting Council (FRC) has published a significant update to FRS 102, which will apply to accounting periods beginning on or after 1 January 2026. These changes form part of the FRC’s periodic review of UK GAAP and are driven by a desire to bring UK standards closer to international norms—particularly IFRS 16 […]
From school leaver to manager: Abi’s story
Starting my career as a school leaver trainee at Kilsby Williams, I’ve had the opportunity to grow both professionally and personally, progressing to my current as an ACA Chartered Audit and Accounts Manager. The firm has provided invaluable support throughout my journey, offering significant development opportunities, exciting work and a strong emphasis on relationships, which […]
Kilsby Williams invests in future talent
The independent firm’s audit and accountancy apprenticeships have been designed with school leavers in mind, providing professional development and expert mentorship opportunities for learners who are not following college and university pathways. The apprenticeships enable school leavers to study towards industry-recognised qualifications including AAT level 2 and level 3 and ACA qualification, while gaining practical […]
New company size threshold criteria introduced
The changes mean that more companies and LLPs will likely qualify as small. Some companies and LLPs who have just breached the original threshold may also have to negotiate their way through a one year audit before the need falls away again. For financial years beginning on or after 6 April 2025, thresholds increase as […]
Death and Taxes
For business owners and farms The UK government has announced significant reforms to Inheritance Tax (IHT) reliefs for business and agricultural properties, set to take effect from April 6, 2026. The headline proposals have been well-rehearsed but the realisation of some of the implications is coming out more gradually. Key Changes: Relief Cap: Currently, Business […]
Be alert
Tax scams are a persistent threat in the UK and understanding common scam tactics and knowing how to protect oneself is crucial. Common Types of Tax Scams Phishing Emails and Texts: Scammers impersonate HM Revenue and Customs (HMRC), sending messages that claim you’re eligible for a tax rebate or owe unpaid taxes. These […]
