When you are growing a business, you often want a fuller picture of your sales, marketing and finances, but gathering all this data in one place can be challenging, even for the biggest businesses.

Our latest App highlight, HubSpot, attempts to do just this and is integrated with Xero, so that all your key numbers are in one place.

What is HubSpot?

Powered by AI and automation, HubSpot is a customer platform that combines your marketing, sales and operations in one place – it can even host and manage entire websites.

This widely used platform gives you and your team a space to track interactions with clients and customers, allowing you to respond faster to new opportunities and spot areas of weakness.

By using HubSpot, you can automate follow-ups to orders or enquiries, gain a clearer view of your sales pipeline and report on performance to support better decision-making.

How does it work with Xero?

Combining these two platforms brings a number of benefits, such as workflow automation, streamlined sales and improved accounting processes.

Pulling data from HubSpot into Xero provides a single point of truth on customers and their spending habits, which can be fed into your wider strategy.

Many businesses choose this integration as it improves efficiency by reducing manual data entry, enables real-time data syncing and allows for easier invoicing.

We have years of experience using Xero-integrated apps, so if you would like to learn more about our technology and innovation services, please get in touch.

Over the last month our team has been channelling their inner Paul Hollywood as they mix up some beautiful bakes to raise money for our chosen charity of the year, Samaritans.

Each week a member of our team has been bringing in their culinary creations for the team to try, but only in return for a donation to this incredible cause.

So far, we have seen some wonderful puddings from our team, but we have been even more blown away by the generous donations.

The money we raise will go to this fantastic, well-known charity, which provides emotional support to people in distress or at risk of suicide throughout the United Kingdom and Ireland.

Our Director, Rebecca Bradshaw, said:
“Everyone has really got into the spirit of the competition and we have had a very tasty few weeks in the office.

“However, more importantly, our team’s efforts are helping us to raise funds for this charity, which is so close to all our hearts. Many of us will go through difficult periods in our lives or know others who are struggling and Samaritans provides a much-needed lifeline to people in this situation.”

To find out more about our fundraising efforts for Samaritans, please visit: https://www.rtaccountants.co.uk/supporting-samaritans-our-charity-of-the-year/

Many small and medium-sized business owners utilise director loans to access valuable funds to help fix any short-term concerns, like cash flow issues.

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Building a property portfolio is exciting for many landlords, but with that comes extra responsibilities, including paying tax.

If you are renting out properties to tenants, you will be required to pay tax and National Insurance, so it’s important you understand your legal obligations and avoid any sanctions from HM Revenue and Customs (HMRC).

It’s especially important given that Income Tax will soon become digital from April 2026. Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) will require landlords and businesses hitting the qualifying thresholds to maintain digital records and send quarterly updates to HMRC.

Failing to meet your obligations can lead to serious sanctions including substantial fines and in more severe scenarios, criminal convictions and prison sentences.

What are my tax responsibilities if I own the property?

If you are a landlord, it’s important to clarify if you need to pay any tax on income you have made from renting out your property.

There is a property allowance in place which applies to the first £1,000 generated from property rental, meaning this is tax free. However, if you are collecting between £1,000 and £2,500 you need to clarify your tax position with HMRC.

However, for rent income exceeding £2,500, you will need to report this through a Self-Assessment tax return.

There are allowable expenses in place which can reduce the amount but if it does exceed the £2,500 threshold, you will still need to file a Self-Assessment tax return. It also applies if you are collecting £10,000 before allowable expenses.

How will MTD for Income Tax affect me?

The MTD Income Tax Self Assessment measures coming into effect will impact landlords.

When you will need to follow the regulation guidelines is determined by your turnover and gross income.

From April 6, 2026, landlords will need to comply with MTD measures if their annual turnover exceeds £50,000.

The threshold then decreases to £30,000 April 6, 2027, and falling further to £20,000 annual turnover from April 6, 2028.

You need to keep an eye on your figures and ensure you know when you need to follow and comply with the MTD regulations.

Your income tax return from 2024/25 will determine when MTD for Income Tax applies to you. There are some exemptions in place, so it is important to check and confirm if MTD Income Tax applies to you.

The way you report will change. Under MTD regulations, paper records will no longer be accepted, meaning all records must be maintained digitally via an online spreadsheet or through digital accounting software.

In addition to this, you will need to send HMRC quarterly updates and clarify your tax position at the end of each year.

Tax support is available for all landlords

As a landlord, you have legal obligations to fulfil which include paying the correct tax. Whether you are renting out property on your own or through a company, you need to work out your tax payments and pay them on time.

Now is a very good time to ensure you know your tax responsibilities, especially with the introduction of MTD for Income Tax coming into effect early next year.

If you are unsure as to what your tax responsibilities are, our team of experts can help.

We can give you all the advice and support you need to understand what you need to pay, what allowances and potential expenses are in place and help you feel confident that you have met your legal obligations.

For expert tax advice, contact our experienced team of advisors today.

It is no hidden secret that the Chancellor Rachel Reeves needs to deliver big changes in her Autumn Budget on 26 November to fix the Government’s current financial predicament.

The Chancellor is stuck in an awkward position where she must try not to break her own tight fiscal and borrowing rules but needs to drive the economy forward and balance the Government’s books.

A hot topic of discussion has been changes to property tax. Changes mooted include abolishing Stamp Duty Land Tax (SDLT), introducing a national property tax as well as changes to Capital Gains Tax (CGT) and a National Insurance tax for landlords.

Nothing is set in stone, and we won’t find out the Chancellor’s plans until 26 November when she delivers her Autumn Budget but if any were introduced, it would completely change property tax in the UK.

How would these changes impact property tax?

The introduction of new regulations would give property a completely different dimension. The two main changes being discussed are the removal of SDLT and the introduction of a national property tax.

Removing SDLT would be a big risk for the Government given how much it generates. In the last financial year, SDLT raised over £11.6 billion, and abolishing it would see a significant revenue drop almost immediately.

SDLT is a transaction tax and applies when properties are being purchased. The SDLT rate applies to the value of a property when bought, increasing the more expensive the property purchase is.

Removing SDLT would likely coincide with the introduction of a national property tax which in essence would replace SDLT.

If introduced, a national property tax would see tax levied on properties worth over £500,000. The Government would set the annual rate with a higher rate set for property purchases exceeding £1 million.

Buyers would pay the tax yearly rather than up front during the purchasing process. This proposed tax would not affect buyers who purchase homes under the £500,000 threshold.

Unsurprisingly, these potential changes have been met with scepticism as many are questioning whether the plans will work long-term and generate the required revenue.

What would Capital Gains Tax look like under the potential changes?

Capital Gains Tax would also see a slight change under potential plans with the Government planning to remove the relief where you are entitled to keep all profit made on the sale of your asset.

The current Capital Gains Tax rates would apply to all sales and be taxed at the current CGT rates which is 18 per cent for lower rate taxpayers and 24 per cent for higher rate taxpayers.

Should this come into effect, the Government would need to clarify the boundaries and thresholds within which the CGT rate would apply. Like SDLT, CGT has also been a fruitful revenue stream for the Government, generating £13.3 billion in the last financial year.

Will there be a reform of property tax in the UK?

It is very difficult to say at this stage if the Government will completely reform property tax in the UK.

The Chancellor will be seriously considering a vast number of options to try and kickstart the UK’s economy and balance the Government’s books.

Property tax reforms would give her the ability to work within her tight fiscal rules but even this might not be enough.

The next couple of months are going to be shrouded in uncertainty until the Chancellor announces her Autumn Budget on 26 November.

If you have any concerns about property tax, our team are on hand to provide you with advice and support.

Stamp Duty Land Tax (SDLT) has always been an important element of the property purchasing process, and that is why it’s vital to check you are paying the correct amount.

Former Deputy Prime Minister Angela Rayner unfortunately found out the hard way, resigning from her cabinet roles following the news she failed to pay the correct amount of SDLT on her new property in Hove.

Rayner quickly acknowledged her mistake and knew her position in the cabinet would be under severe threat because of pressures from other political parties and the fact that she was the Housing Minister.

How did the story play out?

Angela Rayner’s mistake has played out in the public eye but how did it come to this? It all began in May with the purchase of her £800,000 property in Hove.

At that time, and based on the rules of main residence, Rayner paid an estimated £30,000 in stamp duty and cited her Hove property as her only dwelling.

This was because she had moved her Greater Manchester home into a trust and named her children as beneficiaries before taking her name off the deed of the property after being advised to do so.

Her decisions have drawn criticism with many arguing she hadn’t paid enough SDLT in the first place based on the current UK band rates and the current SDLT regulations in place would still class her Greater Manchester home as her main property.

Rayner clarified her position on removing her name from the deed, confirming, “It remains my family home, as it has been for over a decade. It contains the majority of my possessions, and it is where I am registered for most official and financial purposes ranging from credit cards to the dentist to the electoral roll.

“But most importantly, it is where my children live and have gone to school and now college and where I regularly live while caring for them.”

The widespread criticism and publicity of the story forced Rayner’s hand, who resigned from her post as Deputy Prime Minister and Housing Minister.

How does Stamp Duty Land Tax work?

SDLT is a cost you need to consider when purchasing a property, as you will usually need to pay this, but the amount you pay is dependent on the property price, how much you paid and when you bought the property.

If you are buying the property as the only residential property you own, you will usually pay SDLT at the following rates:

The SDLT rate starts at 0 per cent, only applying to a purchase up to £125,000. This rate then gradually increases, the higher the purchase value climbs, eventually hitting 12 per cent for properties purchased for £1.5 million or more.

The more you pay for a property, the more SDLT you will pay.

However, first-time buyers do not pay SDLT if the property purchase is £300,000 or less but will pay a percentage of their home value should their purchase surpass the £300,000 threshold.

What happens with additional property purchases?

If you are purchasing an additional property, you will face an additional surcharge, which is added to the SDLT rate of five per cent.

The surcharge is what ultimately caused the confusion in Angela Rayner’s story. The advice to remove her name from the deed of her Greater Manchester property because it was in a trust, attempted to mask her clear connection to the property therefore crossing the line of what was deemed acceptable.

Given what is now known about her SDLT failings, she is expected to face a larger SDLT bill closer to the £70,000 mark, over double what she originally paid.

Get to grips with Stamp Duty before purchasing a property

Stamp Duty can be complex and it’s wise to include funds within your budget that can cover the costs.  If you have a property in mind, do some research on it, look at its value and determine from there the potential SDLT costs.

If you have stamp duty concerns, you need to speak with legal property experts who will answer your queries and explain how SDLT works.

Get in touch with our team for all SDLT concerns.

HM Revenue and Customs (HMRC) has acknowledged an error it made when publishing Valued Added Tax (VAT) figures that may impact the provisional 2025 to 2026 year-to-date receipts.

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Most business owners who are required to get an audit will likely be aware that there have been plans to reform the way that audits work for many years.

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Large Language Models (LLMs) like ChatGPT are proving popular with businesses for financial advice, but taking their advice can be dangerous for your company.

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