Service with a smile
Our services
Leaving our core principles of professional behaviour and competence, our integrity, objectivity and confidentiality to one side. We are general accounting practitioners dealing with the same financial services as most other chartered accountants. We don’t lay claim to having any particular USP. We just don’t feel a need to detail webpage upon webpage of words. You are probably too busy to read it anyway, so let’s keep it short:
- Business start-ups
- Annual Accounts
- Audits
- Taxation (personal, business, trusts, charities, investigations)
- Making Tax Digital (Quickbooks, SageOne, Xero)
- Company Secretarial
- Book Keeping
- Management Accounts
- Payroll (including Auto enrolment, CIS and IR35)
- Advisory/Consultancy
Making Tax Digital for Income Tax
From 6 April 2026, any individual whose total income from self-employment and property rental (referred to as "qualifying income") exceeds £50,000 will be required to make quarterly submissions under the new Making Tax Digital for Income Tax (MTD for IT) rules. This means that if you earn £25,000 from self-employment and £25,000 from property rental, you will still fall within scope, as your combined qualifying income totals £50,000.
Under MTD for IT, businesses will need to report income and expenses every three months, rather than just once a year. It’s also important to note that the £50,000 threshold is not permanent — it will reduce to £30,000 in 2027 and then to £20,000 in 2028. This phased reduction makes it essential for affected individuals to plan ahead and stay compliant as the changes roll out.
Navigating these changes can be complex, but we are here to provide expert guidance and support. Whether you prefer to continue bringing in your invoices and statements for us to handle the bookkeeping and submissions on your behalf, or if you're looking to digitalise your bookkeeping processes, we can assist. Our team offers comprehensive training on leading software such as Microsoft Excel, QuickBooks, Xero, and Sage, ensuring you can manage your accounts with ease and meet all MTD for ITSA requirements. With our expertise, we’ll ensure you stay compliant, avoid penalties, and streamline your financial processes for maximum efficiency. Let us take the stress out of the new MTD rules, so you can focus on what matters most to your business.
To view a short video with more information please click the below links:
If you have an immediate question or if you require further information on a particular topic, call us 01484 722125 or email enquiries@brosnans.co.uk – we would be delighted to hear from you. If you wish for us to contact you at a specific time to fit around your own schedule, just say so on the email enquiry form here.