Banks must now give 90 days- notice before closing accounts, giving customers more time to respond. Since April 2026, new government rules strengthen protections for individuals and small businesses
Author: CIGMA Accounting
CIGMA Accounting Ltd is a forward-thinking accounting and tax firm based in London, dedicated to delivering high-quality compliance, tax planning, and business advisory services to entrepreneurs, landlords, and growing SMEs.
With offices in Wimbledon and Farringdon, we combine local expertise with a tech-driven approach to simplify accounting. Our services include corporation tax filing, VAT compliance, HMRC investigation support, R&D tax credit claims, capital allowances optimisation, and bookkeeping automation.
What sets CIGMA apart is our ability to blend traditional accounting rigour with AI-powered systems that reduce errors, save time, and provide real-time financial insights. Our team ensures that every client � from startups to high-net-worth individuals � receives a bespoke solution aligned with their growth goals.
Whether you need strategic tax planning, help with HMRC disclosures, or a full outsourced finance function, CIGMA Accounting delivers clarity, compliance, and confidence.
Trusts and Income Tax
Trustees must manage assets, follow tax rules, and register with HMRC where required. A trust is a legal arrangement in which a trustee, either an individual or a company, is entrusted with managing
VAT - digital record keeping
HMRC requires businesses to maintain accurate VAT records to ensure correct tax payments. While all businesses must retain general records (such as invoices, bank statements, and receipts), a key
Definition of a building sub-contractor
Test Know the rules for contractors & subs under CIS to avoid issues with HMRC. Under the Construction Industry Scheme (CIS), HMRC applies specific tax rules to contractors and subcontractors in
A magical clause does not necessarily nullify employment status
A recent ruling has provided a timely reminder that substance trumps form in employment status disputes, and the mere insertion of a clause does not automatically change the employment status of
Building value in your business
For many small business owners, the focus is on day-to-day operations. However, building long-term value is just as important, whether your aim is to sell in the future, attract investors, or secure
Pre-Budget tax planning - act now
With the next UK Budget approaching, there is speculation about changes to tax rates, allowances, and reliefs. Acting now can help secure current benefits before any new rules take effect.
Key areas
HMRC to increase anti-money laundering fees
Fit and proper test fee to jump from -150 to -700 under HMRC-s proposed AML supervision changes
Many businesses are monitored by the Financial Conduct Authority (FCA) or certain professional bodies
Who can claim the IHT residence nil rate band
Your London Experts in IHT Planning
At CIGMA Accounting, a trusted accounting firm London and specialist tax advisors London, we help families, entrepreneurs, and high net worth individuals secure
Homebuyers warning
Properties needing repairs still count as homes and false claims to recover Stamp Duty Land Tax could mean big tax bills and penalties.
HMRC has issued a warning to homebuyers about rogue tax agents
Reclaiming duty moving goods to Northern Ireland
Businesses can reclaim duties on qualifying goods moved to or through Northern Ireland since 2021
The Northern Ireland Duty Reimbursement Scheme allows businesses to reclaim import duties paid on
Challenging your Council Tax band
If your property has changed or seems mis-banded, you may have the right to request a Council Tax review.
Properties in England and Wales are assigned Council Tax bands based on their value as of 1
Interactive online tool for tax compliance check
HMRC-s new Q&A tool guides you through each step of a compliance check.
The free interactive online tool is designed to help individuals and businesses better understand what happens during a tax
Bank Rate trimmed to 4%
The Bank of England has knocked the main interest rate down to 4% today, cutting it by a quarter?point from 4.25%. It-s the fifth cut in a year and brings the rate to its lowest since March 2023.
The
The value of retaining profits to support cash flow and growth
For small businesses and growing companies alike, one of the most reliable sources of funding is often the profits they generate. While it can be tempting to extract earnings in the form of dividends,
Employing family members in your business
Many small business owners turn to family members when looking to fill roles in their team. It can seem like a natural choice, offering trust, loyalty, and a shared sense of purpose. However,
Making Tax Digital - important deadline dates
Making Tax Digital for Income Tax (MTD for IT) will become mandatory in phases from April 2026. If you are self-employed or a landlord earning over -50,000 you need to be prepared for digital record
Shared home ownership
Shared home ownership offers a more accessible route to owning a home for those who cannot afford the full deposit or mortgage on a property that suits their needs. Under this scheme, buyers purchase
New self-assessment services announced by HMRC
New digital services have been launched that aim to make filing and managing tax returns quicker and less stressful.
These improvements are part of HMRC-s Transformation Roadmap, which sets out over
Found objects and Capital Gains Tax
Items discovered lying on land or buried in the soil, such as antiques or historical objects, are treated as chattels for Capital Gains Tax (CGT) purposes. This remains true even if ownership is tied
Taxation of entertainment expenses
Many business gifts and hospitality costs are not tax-deductible under current rules. Entertainment expenses including providing hospitality and business gifts are common, but the taxation of these
Estate valuation for IHT purposes
Before probate begins, you must estimate the estate's value to see if Inheritance Tax applies. This includes valuing the deceased person's money, property and belongings in order to determine if
Choosing a Business Rates Agency
The Valuation Office Agency (VOA) has issued updated advice to help business owners choose and monitor business rates agents more effectively. A key message is that the name listed in the Check and
Red tape eased for new cafes and bars
Communities and town centres across the UK are about to get a serious boost. The Government has unveiled sweeping reforms aimed at slashing red tape so new cafés, bars, music venues and outdoor
Current Inheritance Tax thresholds
Test
Married couples can pass on up to -1 million tax-free if they plan their estates carefully.
The Inheritance Tax (IHT) nil-rate band is currently -325,000. This means there is normally no IHT
Verifying your ID at Companies House
You now need to set up a verified GOV.UK One Login to confirm your identity with Companies House.
To verify your identity at Companies House, you can use the GOV.UK online verification service if you
VAT relief for the disabled
VAT relief is available on goods and services for people with long-term illnesses or disabilities.
There are special VAT reliefs available for certain people living with disabilities or long-term
Capital Gains valuations of goodwill
Who values goodwill when a business is sold? HMRC’s Shares and Assets Valuation team takes the lead.
Whether the goodwill belongs to a sole trader, partnership or limited company, HMRC-s SAV team
IHT Agricultural and Business Property Relief changes confirmed
Despite intense lobbying by the farming community, the proposed reduction in IHT Business and Agricultural Property reliefs are included in the draft Finance Bill 2025-26.
On 21 July 2025, the
IHT Unused Pension Funds and Death Benefits changes
It was confirmed with the publication of the draft Finance Bill 2025-26 that measures first announced in the Autumn Budget 2024 to bring most unused pension funds and death benefits into the scope of