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The Society of Professional Accountants Ltd

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The Society of Professional Accountants Ltd

We support qualified accountants informally throughout the year.

15/06/2026

From April 2028, Companies House accounts filing rules will change for small companies and micro-entities.

Key points include:

✅ Profit and loss accounts will need to be filed
✅ Smaller companies may be able to opt out of public publication of P&L accounts
✅ Abridged accounts will be removed
✅ Accounts filing will move to software-only iXBRL filing
✅ Stronger audit exemption statements will be required

Companies House has confirmed that businesses will have 21 months to prepare, but advisers should begin reviewing client processes well in advance.

Read the full SPA update here:
https://spa.org.uk/companies-house-filing-changes-further-details-for-small-companies-and-micro-entities/

11/06/2026

Capital Gains Tax planning is becoming more important for clients.

The annual CGT allowance is now just £3,000, compared with £12,300 in 2022/23. Main CGT rates have also increased, meaning clients who leave planning until the point of sale may face a higher tax bill than expected.

There are still practical planning steps that may help, including:

✅ Using the annual CGT allowance
✅ Making use of spouse or civil partner transfers where appropriate
✅ Moving investments into an ISA over time
✅ Considering pension contributions as part of wider tax planning

The key message: don’t wait until the asset is being sold. Early planning can make a real difference.

Read the full article on our website: https://spa.org.uk/reducing-capital-gains-tax-key-planning-points-for-clients

For updates like these, join the Society of Professional Accountants:
https://spa.org.uk/join-spa/

09/06/2026

Companies House Filing Update

The Government has announced that, from 1 April 2028, small companies and micro-entities will be required to file profit and loss accounts with Companies House.

Following lobbying from the small business community, companies will have the option to opt out of public disclosure of their profit and loss accounts, with further details expected in due course.

The changes also mean that abridged accounts will be abolished, and all companies will be required to file accounts using commercial software.

Small companies will not be required to produce a directors’ report as part of their annual report and accounts.

More information will follow as further guidance becomes available.

Join us for regular updates and practical guidance on changes affecting accountants in practice.

Find out more about membership: https://spa.org.uk/join-spa/

08/06/2026

The World Cup kicks off on 11 June — but is your business ready?

Employers may see a rise in annual leave requests, lateness and short-notice sickness absence during the tournament, especially with many matches taking place late in the evening or overnight.

With day-one statutory sick pay now in force, short-term absence may also have a more immediate cost for employers.

A little flexibility can be positive, but it is important to apply policies fairly and consistently.

Read our latest article for practical points employers should consider before kick-off:
https://spa.org.uk/world-cup-staff-absence-sick-pay/

04/06/2026

June and July include several important tax filing and payment deadlines.

Our latest update highlights key dates for VAT, corporation tax, PAYE, NICs, CIS, P11Ds, self-assessment payments on account and more.

Some deadlines also fall on weekends, so now is a good time to review what applies to you or your clients.

Read the full update here:
https://spa.org.uk/upcoming-tax-filing-deadlines-june-july/

29/05/2026

Which companies must hold an AGM?

Not every company is required to hold an annual general meeting, but for public companies and private traded companies, the rules still matter.

Our latest article explains which companies must hold an AGM, why the distinction is important, and what directors and advisers should keep in mind when reviewing company law requirements.

A useful reminder for anyone advising clients on corporate governance and compliance.

Read the article here: https://spa.org.uk/which-companies-are-required-to-hold-an-agm

28/05/2026

The HMRC joint filing option has now closed

From 1 April 2026, companies can no longer use HMRC’s free online service to jointly file accounts and company tax returns with both HMRC and Companies House.

This means companies must now file their annual accounts with Companies House separately, while accounts for tax purposes and company tax returns must be filed with HMRC using commercial software.

For accountants and company directors, this is an important procedural change to be aware of when managing filing deadlines and client compliance.

Read the full update here: https://spa.org.uk/hmrc-joint-filing-option-ended/

27/05/2026

Shop below. Flat above. VAT questions throughout.

When a client buys a mixed-use property to renovate, the VAT position may not be as straightforward as it first appears.

A ground-floor shop, an upstairs flat, renovation works, possible letting options and the question of VAT recovery can all point in different directions.

For accountants advising clients on property conversions, the key questions should usually come early:

* What is the property now?
* What will it be after the work is complete?
* What income will it generate?

This case study looks at how those questions affect VAT liability, reduced-rate works, input tax recovery and the option to tax.

Read the full article on our website:
https://spa.org.uk/vat-case-study-property-conversion/

22/05/2026

Letting agents have an important role to play in Making Tax Digital for Income Tax Self Assessment.

For landlord clients, the information provided by letting agents will need to support digital record-keeping, quarterly updates and accurate MTD reporting.

One key point for accountants: gross rent and letting agent fees need to be clearly separated. Net income figures alone may not provide the right breakdown for MTD ITSA.

Small firms should be checking now:

• Who is responsible for submitting what information
• Whether the letting agent’s software is MTD compatible
• Whether gross rent, commission and management fees are clearly reported
• Whether landlord records are being updated regularly, not just at year end

Read the full article for a practical overview of what letting agents, landlords and accountants need to consider:

https://spa.org.uk/letting-agents-mtd/

Address

5 St. John's Lane
London
EC1M4BH

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Telephone

+442084584664

Website

http://www.spa.org.uk/

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