Companies House has announced that several of its statutory fees will increase from 1^st February 2026.

These changes form part of Companies House’s ongoing transformation under the Economic Crime and Corporate Transparency (ECCT) Act, which aims to strengthen the integrity of the UK business register and combat fraudulent activity.

Key Fee Changes

From 1^st February 2026, the following digital filing fees will apply:

• Company incorporation: increasing from £50 to £100

• Confirmation statement: increasing from £34 to £50

• Voluntary strike off: increasing from £8 to £13

A full list of all revised fees is available on the Companies House website.

Why the Changes Are Being Made

Companies House explains that its fees remain low by international standards, even after these increases. The income generated from these fees supports:

• The incorporation of companies and publication of reliable company information used widely across the UK economy.

• The implementation of new powers under the ECCT Act, which enable Companies House to query, challenge, and remove false or misleading information from the register.

• Enhanced enforcement activity, including funding for The Insolvency Service’s company investigation and director disqualification work.

What This Means for Businesses

The changes are part of a wider effort to build a more transparent and trustworthy marketplace for legitimate UK businesses. 

As part of this modernisation, compulsory identity verification will come into force from 18 November 2025, ensuring that individuals who set up or manage companies are verified. 

Companies House is also investing in modernised digital systems, additional staff, and improved tools to detect and prevent fraud more effectively.

While the upcoming increases may feel significant, they reflect a broader move towards greater corporate transparency and protection for genuine businesses.

How GLX Can Help

At GLX, we’ll continue to support our clients through these upcoming changes, from company incorporations and annual compliance filings to guidance on new identity verification requirements.

If you have any questions about how these updates may affect your business, please don’t hesitate to get in touch with your Client Manager.

As a director of a Limited Company, protecting both your business and your employees is vital. One way to achieve this is by putting the right insurance policies for directors in place. These policies can be paid through your Limited Company without triggering a benefit in kind, making them both practical and tax-efficient.

Why Insurance Policies for Directors Are Important

Running a Limited Company comes with responsibilities, not only to shareholders, but also to employees and their families. Having the right protection in place ensures financial security, supports business continuity, and helps attract and retain valuable staff.

In this guide, we’ll explain the most important insurance policies for directors, including Relevant Life Insurance, Death in Service cover, and Key Man Insurance.

Relevant Life Policy

What is a Relevant Life Policy?

A Relevant Life Policy is one of the most tax-efficient insurance policies for directors. It provides a death-in-service benefit for employees, including directors, by paying a lump sum to the insured person’s beneficiaries if they die or are diagnosed with a terminal illness while employed by the company.

Benefits of a Relevant Life Policy:

• Tax Efficiency: Premiums are usually eligible for Corporation Tax relief, reducing overall costs for the company.
• Employee Attraction and Retention: Including this policy in your benefits package makes your company more appealing to potential hires and helps retain existing employees.

Death in Service Insurance

What is Death in Service Insurance?

Death in Service cover is another valuable option when considering insurance policies for directors. It provides a tax-free lump sum to an employee’s beneficiaries if they pass away while employed by the company.

Benefits of Death in Service:

• Financial Security: Helps the employee’s family cover major costs such as mortgage repayments, funeral expenses, and day-to-day living costs.
• Cost-Effective: Offers high value at relatively low cost, making it an attractive benefit for employees.

Key Man Insurance

What is Key Man Insurance?

Key Man Insurance is a business insurance policy that provides financial protection to a company if a key person, such as a director or critical employee, passes away or becomes disabled.

Benefits of Key Man Insurance:

• Financial Protection: Provides a cash payout to offset lost revenue, cover recruitment costs, or support ongoing business operations.
• Business Continuity: Ensures the company can continue running smoothly despite the loss of a critical person.

Choosing the Right Insurance Policies for Directors

Each Limited Company is different, and the right cover depends on the size of your business, the nature of your work, and your long-term goals. By putting the right insurance policies for directors in place, you’ll not only protect your business but also safeguard your employees and their families.

If you require further information on the various insurances available to you as a director, please get in touch. 

This August marks a major milestone for us; it’s our 20th anniversary!

Watch our video below to hear our Managing Director, Jack Presland, reflect on our journey; from Graham Lewis’ vision when he founded GLX 20 years ago, to who we are today and the values that continue to drive us.

We would also like to take this opportunity to thank everyone who has been a part of our GLX journey to date.

We are extremely proud to be where we are, and we couldn’t have done it without our team, clients, and partners.

Here’s to the next chapter!

Following on from our introduction to Making Tax Digital blog, we’ve answered some of the most common questions we have been asked. Take a look at our FAQ’s below:

We love supporting the local community, and this season, we were delighted to sponsor the Thorpe St Andrew Leopards Under-15s football team.

Managed by our very own Duncan Smith, the Leopards stepped up a league after gaining promotion the previous year, and this season was filled with growth, determination, and plenty of memorable moments!

Speaking about his team, Duncan says: “After an anxious start to the season, the team quickly settled down and got into a good rhythm after the first few games.

They all looked very smart in their kits sponsored by GLX, and with lots of wins, some draws, and a couple of losses, we ended the season mid-table.

We couldn’t run a team without all the support from our players, parents, coaches, and GLX for providing their matchday kit, and we look forward to working with them for many seasons to come!”

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 6^th 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

• Due: 7 August 2026

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

• Due: 7 November 2026

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

• Due: 7 February 2027

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

• Due: 7 May 2027

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

• Due: 31 January 2028 (along with any tax due)

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 value of any benefit is treated as taxable income for the employee or director and is usually taxed via an adjustment to their tax code.
• Employers must also submit a P11D(b) to report and pay Class 1A National Insurance at 13.8% on most taxable benefits.
• Payment of Class 1A NIC is due by 22nd July 2025 (or 19th July if paying by post).

The most common reportable benefits include:

• Company cars and fuel
• Mileage reimbursements above HMRC’s approved rates
• Director’s loans exceeding £10,000
• Private medical insurance

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!