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It seems that HMRC have been talking about Making Tax Digital for a long time and, in fact, it was ten years ago it was first announced. What followed was a number of delays, but it has been confirmed that this is finally happening! 

You may even be reading this blog because HMRC have sent you a letter saying you might be required to register from 6 April 2025. A lot has become clearer with regards to what this will involve, and GLX are here to keep you up to date with any further developments.

So ‘What do you need to do?’ The first thing is to not panic; you may already have systems in place that will be suitable, and even if you do not then we have a year to work out the right solution for you. The important thing is to engage with your accountant and work with them to find the easiest and best solution for you.

If you already have a self-employed business or are a landlord, and are below the VAT threshold, you will be very used to only having to submit a tax return to HMRC once a year, with a January deadline. 

Maybe currently you are someone who uses software to quickly and efficiently complete your record keeping in a few minutes on a Friday afternoon before then having the weekend to enjoy family life, or maybe you are the sort of person who just drops off a shoe box full of receipts to your accountant once a year! The great news, in both scenarios, is you are currently keeping records in line with HMRC requirements (and we love working with you equally)!

However, from 6th April 2026 businesses who have combined self-employed and rental income of £50,000 (That is the total amount of receipts, before any expenses; not profit) will have to submit an update of the year to date profits, every quarter, in an electronic format to HMRC. This will need to be made within a month and 7 days of the period end, as well as a final statement by 31 January the year after. 

The essential requirement of MTD is that businesses must maintain their records in a digital format. This can include compatible software or spreadsheets. Maintaining records in paper format ceases to meet the legal requirements.

The first year will look a little something like this:

1. Submission 1 – Quarter: 1 April 2026 – 30 June 2026

2. Submission 2 – Quarter: 1 April 2026 – 30 September 2026

3. Submission 3 – Quarter: 1 April 2026 – 31 December 2026

4. Submission 4 – Period: 1 April 2026 – 31 March 2027

5. Final Submission (Year-End Report): 1 April 2026 – 31 March 2027

As you can see you will have this will mean that you have to submit information to HMRC much more regularly. By working with your accountant to ensure you have the right system in place, that works best for you, should minimise the hassle of this and there are a number of benefits to this;

You will have much better year to date figures than just doing it at the end of the year. This means your accountant can project tax liabilities further ahead meaning you never have a nasty shock when January comes round. Secondly, if ever asked to provide estimated figures for financing or other purposes you will have these to hand. Finally, by submitting quarterly you are not creating more work, but splitting it over the year, hopefully meaning less stress overall.

Ultimately, working closely with your accountant we aim to make this transition as smooth as possible. 

We will be posting a number of blogs in the following months as the final details are announced to ensure you are kept fully up to speed, and if you are an existing client we will contact you during the preparation of the 24/25 tax return to let you know if you will need to join in April 26 and to get all the building blocks in place to ensure complying with Making Tax Digital is stress-free.

If you have any queries around Making Tax Digital or would like to know more about how GLX can help you, contact us today.

Did you know that misunderstanding Director’s Loan Account rules is one of the most common causes of tax and cashflow issues for small companies and their Directors?

A Director’s Loan Account (DLA) records money you take from or lend to your company outside of salary or dividends, such as expenses you pay for the company, cash withdrawals, or loans between you and your company.

At GLX, we regularly speak with directors who are surprised to learn just how easy it is to fall foul of DLA rules. We understand that running your business is your priority, but understanding how much you can withdraw as a business owner is crucial.

Here are some Director’s Loan Account rules to be aware of:
– Taking out more money than you’ve put in creates an overdrawn DLA. This means you owe money back to the company. If you don’t repay the overdrawn amount within 9 months after the company’s year-end, the company faces a Corporation Tax charge of 32.5% (known as Section 455 tax).
– Loans under £10,000 can be interest-free. For loans above this, interest must be charged. If not, the difference is treated as a benefit in kind and reported on a P11D, potentially creating a personal tax liability.
– Repaying the loan within the deadline avoids the Section 455 charge. The company can reclaim this tax if repaid later, but this can create cash flow challenges.
– Writing off the loan or treating it as a dividend can trigger further personal tax implications.
– Regularly documenting and reconciling your DLA helps prevent surprises and ensures your accounts are accurate.

HMRC monitors Director’s loans closely and may impose penalties for non-compliance, so making sure you are well informed will help you avoid any issues in the future.

If you’re unsure about your Director’s loan or need help managing withdrawals and tax effects, contact GLX to discuss your situation and we will guide you every step of the way.

Introducing Bonnie Sartin to the GLX team as our Senior Payroll Administrator!

With over 12 years of experience in both in-house and bureau payroll environments, Bonnie brings a wealth of knowledge and expertise to our payroll function.

Her background includes more than a decade supporting a local health authority, navigating complex payroll processes, TUPE transfers, multiple staff contracts, and time & attendance systems.

Bonnie has also worked closely with a wide range of clients, becoming their trusted first point of contact and delivering accurate, tailored support with a keen eye for detail and excellent communication.

Outside of work, she enjoys spending time with family and friends, and taking her dog Elvis for long walks. She is also a keen foodie with a passion for cooking, and loves a good drama binge on Netflix!

Welcome, to the team Bonnie!!

If you’re a company director, your salary and dividend strategy can make a significant difference to how much tax you pay and how much income you take home. Now that the new tax year is underway, it’s a great time to review whether your current approach is still the most tax-efficient option.

Why Your Income Structure Matters

By balancing salary and dividends, many directors can significantly reduce their tax and National Insurance liability. In fact, with the right strategy, you could take home approximately £46,700 from a total income of £50,270, while keeping your tax and NICs to just £4,260.

Here’s what that might look like:
– Salary of £12,570 with no income tax, but around £293 in employee NIC and £712 in employer NIC which helps protect your state benefits.
– Dividends of £37,700, £500 of which is tax-free using the dividend allowance, and 8.75% tax on £37,200 which equals £3,255.
– Total tax and NIC paid: £4,260*
– Take home pay of approximately £46,700* from a total income of £50,270.

*Simplified figures

Why This Strategy Works

Dividends aren’t subject to National Insurance, which is why a well-structured salary and dividend strategy for directors can be so tax-efficient. Splitting income between the two can lower your overall tax bill compared to taking the full amount as salary.

Other important considerations:
– Staying below the £60,000 threshold ensures you retain your full Child Benefit entitlement.
– Employment Allowance can reduce employer NIC by up to £10,500 but isn’t available if you’re the sole director on payroll. It can help if you have other employees, even temporarily.
– Employer NIC paid on salary is an allowable business expense, so it reduces your company’s taxable profits and corporation tax liability. For example, £712 NIC reduces your corporation tax bill by up to £178 (at 25% rate).

Tailoring your salary and dividend strategy

For many directors this is likely the most tax-efficient position. However it’s important to tailor remuneration to your individual circumstances. If you have other income streams such as rental income or pensions this can affect your overall tax position and the best strategy for you. It’s not a one-size-fits-all solution.

For tailored advice for your salary and dividend plan for 2025/26, speak to the GLX team today on 01603 671361 or email info@glx.co.uk

With the P11D reporting deadline 2025 fast approaching on 6th July and the 2024/25 tax year now closed, now is the time to make sure everything is in order.

If your business offers perks such as company cars, private medical cover, or director loans, these are classed as benefits in kind, and must be reported to HMRC as part of the P11D process.

Key points to consider:

The most common reportable benefits include:

Benefits that have already been processed through payroll (if registered in advance) and trivial benefits within HMRC’s exemption rules don’t need to be reported.

Did you know that you can now choose to payroll certain benefits? This means adding them directly to employees’ payslips, reducing admin time, and eliminating the need for year-end P11D reports (though a P11D(b) is still required). Registration with HMRC must be completed before the start of the tax year.

From April 2026, payrolling benefits will become mandatory, which will replace most P11D reporting altogether, so preparing early for this change will help smooth the transition.

If you need help meeting the P11D reporting deadline 2025, understanding the changes, or implementing payrolling for benefits, contact our team today!

We’re absolutely thrilled to share that Abigael Taylor is ACCA qualified!!

This is a huge milestone, and one that’s incredibly well-deserved.

Abbey has worked exceptionally hard over the past few years, balancing client work, studies, and exams with professionalism and dedication.

Her determination, focus, and positive attitude have been clear from day one, and we couldn’t be prouder to see her reach this moment.

It’s not just a certificate, it’s a reflection of all the time, effort and resilience she’s shown along the way.

Congratulations, Abbey!! 🥳

Early tax return preparation might not rank high on the “fun” list for most individuals and business owners, which makes it all too tempting to put off.

However, the benefits of being proactive are significant and often overlooked.

At GLX, we work proactively and encourage our clients to get ahead of the curve, and here’s why:

Thinking about getting expert help with your tax returns? Whether you’re an individual or business owner, our team can guide you through early tax return preparation with ease.

Get in touch with the GLX team for a no-obligation chat about your circumstances, and how we can help you.

On Saturday 17th May, Helen, Ali, and Melissa took part in the Norfolk Coastal Walk, raising £600 for The Feed, a community organisation dedicated to fighting food insecurity.

Arriving at Sea Palling for 9am, it was straight on to the beach with roughly 50 other keen walkers for a 17.5 journey, trekking over sand, rock, and shingle.

The walk took them up over the cliffs, around Happisburgh Lighthouse, through Keswick, and back onto the beach at Bacton, before stopping for a much needed break at Mundesley Museum.

The second leg of the journey started off promising through Mundesley village, but it was soon back down on to the sand at Trimmingham all the way to Overstrand.

Once up on to the cliffs at Overstrand, the end point was in sight, and the team made their way along the cliffs, around Cromer golf course and through the town, finally reaching the finish line at Cromer Pier at 15:45 making the total walking time 6 hours and 4 minutes – a great effort!

Shout out to team Pivotal, the crew at Arnolds Keys, and Mobilityways for all their support along the way, and huge thanks to Nade Ward and the rest of the team at The Feed for arranging the Norfolk Coastal Walk event and for keeping us fed!

But, last but not least, we would like to say a big thank you to everyone who has supported us along the way, your donations will help The Feed continue to make massive changes in our community through the power of food. 

For more information on The Feed and what they do, please visit: https://thefeed.org.uk

Q: How flexible is the outsourced Finance Director role? 

A: For many businesses, especially growing SMEs, flexibility in financial leadership is crucial — and this is where outsourcing shines.

An outsourced Finance Director (FD) offers significant flexibility that a full-time, in-house hire simply cannot match. Whether your business requires strategic input for a short-term project or ongoing part-time support, an outsourced FD can be engaged on terms that suit your needs.

This model allows you to adapt your financial management approach without the high cost and long-term commitment associated with full-time employees. It’s a scalable solution — giving you the ability to increase or decrease involvement based on your business’s current stage or challenges.

What adds to the flexibility is the broad range of services that an outsourced FD can provide. These include:

You get high-level expertise tailored to your company’s specific requirements, all while maintaining cost-efficiency and operational agility. Whether you’re navigating growth, restructuring, or preparing for investment, this flexible arrangement ensures your financial leadership scales with you.

If you’re asking “how flexible is the outsourced Finance Director role”, the answer is: very. It’s a solution designed for adaptability — a smart, modern approach for businesses looking to optimise performance without sacrificing control or budget.


If you’d like to explore how an outsourced Finance Director could benefit your business, contact us for a free chat.

Glenn Matthews joined our team in March 2025 with over ten years of accounting experience under his belt. Glenn brings a wealth of knowledge to the table, having worked with businesses of all sizes across a wide range of sectors, but has a particular strength in supporting startups.

Glenn has a real passion for helping new business owners feel confident about their finances from day one. He’s known for setting up efficient systems that work seamlessly behind the scenes, breaking down financial responsibilities in a way that’s easy to understand, and introducing user-friendly accounting software that simplifies the day-to-day. His goal is always to make life easier for business owners, giving them more time to focus on what they do best.

What sets Glenn apart is his genuine interest in the people behind the businesses he supports. He takes the time to get to know his clients – what motivates them, what keeps them up at night, and how the right financial guidance can make a lasting impact. For Glenn, it’s not just about the numbers; it’s about building trusted relationships and offering tailored advice that helps businesses thrive!

Outside of work, Glenn is just as driven. He’s a keen foodie, loves to travel and explore new places, and is an avid runner. In fact, he recently completed the Norfolk Marathon in April – a proud personal milestone!

To speak to Glenn or learn more about how our team can support your business (or if you’re looking for a new running partner!), contact us today.