Year to date only
The tax on the figures so far, not the year you're heading for.
Chartered Certified Accountants · Elm and Norwich
Accounts, tax, VAT, payroll and bookkeeping for owner-managed businesses, sole traders and landlords. Plain English, figures you can act on, and a tax bill you can see coming.
Who we work with
Your tax return done early, Making Tax Digital handled every quarter, and an estimate of the bill each time, so January is a payment you've already saved for.
One buy-to-let or a portfolio, held in your own name or through a company. We'll get the rent and costs right on your return, split jointly owned property properly, and work out the capital gains tax when you sell.
Accounts, corporation tax, payroll and your own tax return from one firm that sees the whole picture, so your salary, your dividends and the company's tax bill are planned together.
Some of the people we act for
From builders and estate agents to camper van converters, cake makers and a forensic psychologist. The list includes builders, electricians, plumbers, scaffolders, architects, estate agents, printers, hotels, driving instructors, hairdressers, fish and chip shops, dentists, florists, dog groomers, dog trainers, wedding photographers, motorcycle dealers, dressmakers, upholsterers, vending machine operators, camper van converters, classic car restorers, forensic psychologists, an historic visitor attraction, pottery and glass workshops, swimming pool hire, drum teachers, sound engineers, oil and gas consultants, an arcade games maker, celebration cake makers, a cookie baker, grazing platter makers, embroiderers, mobile podiatrists, civil celebrants, performing arts schools, second-hand sofa sellers, house clearance, energy assessors.
Making Tax Digital for Income Tax
Making Tax Digital for Income Tax applies to sole traders and landlords. Self-employed turnover and rent are added together, before expenses, and the line comes down each year until almost everyone with a real business is in. Each dot is a business. Watch them turn green.
What MTD actually means
Digital records, an update to HMRC after every quarter, and a final return after the year end. The big myth is that you pay tax every quarter. You don't.
You still pay on 31 January and 31 July. MTD doesn't change when the tax is due.
What HMRC's estimate can't see
The benefit HMRC offers for all those updates is a tax figure during the year. It's worked out from the update alone, so it leaves out most of what decides your bill.
The tax on the figures so far, not the year you're heading for.
A salary, a pension or savings interest isn't in the update.
Tax taken off a subcontractor's pay isn't set against the bill.
What you've already paid towards the bill isn't taken off.
The timing problem
Money you earn from 6 April 2026 falls in the 2026/27 tax year. The return isn't due until 31 January 2028, and that's when the bill lands. Plenty of time to spend the money first.
* Payments on account start once a year's bill is over £1,000. In your first year there aren't any, so the whole bill and half of next year's arrive together.
So January still hurts
Illustration: a sole trader with £48,000 profit in 2026/27, in their first year of Self Assessment. Income tax and Class 4 National Insurance at 2026/27 rates, rounded.
We already hold what HMRC's figure is missing: last year's return, your other income, the CIS and the payments on account.
So we built our own.
A full-year tax figure after every quarter, emailed to you, from the update we're filing anyway.
Quarterly tax estimates
Every quarterly update we file already has the figures in it. After each one we turn them into a full-year estimate and email it to you, with what to put aside each month.
Due by 31 January 2028
Illustration only, not a client: a sole trader heading for £48,000 profit in 2026/27.
Your 2026/27 tax return is ready to approve
Hi Sam,
Your profit for the year was £48,000, and your tax and National Insurance for 2026/27 comes to £9,212.
That's within £200 of the £9,400 we estimated in February. It's due by 31 January 2028, along with the first payment on account for next year.
Kind regards,
Richard
Try it yourself
Move the sliders. It's a rough guide for sole traders and landlords, and it shows the dates the money leaves your account.
When it's paid
You've about £2,270 of basic rate band left before 40% tax starts.
A rough guide using 2026/27 rates for England, Wales and Northern Ireland. Rental figures are treated as profit before finance cost relief. It leaves out savings, dividends, student loans, Scottish rates and other reliefs. HMRC sets payments on account from your previous year's bill, so when this isn't your first year it assumes last year's bill was the same.
For limited companies
Quarterly management accounts, built off the VAT return we're doing anyway. This month, this quarter, year to date and the same point last year, with corporation tax worked out every month so it's already in the figures.
Sales this quarter
£186,400
+8.2% on last yearGross margin
34.1%
down from 36.0%Profit, year to date
£68,400
six monthsCash at the bank
£142,800
30 SeptemberCorporation tax so far
£16,250
Of about £32,500 for the year, accrued month by month.
The year at a glance
How we're different
Town-centre offices cloud software.
Box files Xero.
Jargon plain English.
A call centre someone who knows your business.
A shock in January an estimate every quarter.
Richard set up the firm after years in larger regional firms. The idea was to put the money into good software instead of expensive offices, and pass the saving on.
Nik joined after a career at Whiting & Partners, PKF and BDO. He runs the Norwich side from his garden office. Yes, it's a bit of a theme.
Offices in Elm and Norwich, working in Xero and the other cloud packages our clients use, for businesses across Norfolk, Cambridgeshire and well beyond.
The team
The "& Co" was originally his cat.
Founder and director · Elm
Set up the firm in 2010. Plays guitar in a band and works as a sound engineer in his spare time.
Plays clarinet in a local band and judges dog agility.
Director · Norwich
Qualified in 1998 and worked at Whiting & Partners, PKF and BDO before joining in 2021.
Hover over a photo, or tap it on a phone.
Kind words
Richard was very helpful and took a lot of the stress away from sorting out our company registration, accounting software and PAYE for us which then allowed more time to focus on other things.
You have shown your professionalism and support to us and your advice is highly regarded. Your guidance has been much appreciated through our payroll transition from our previous provider.
Questions
Xero keeps your books. It doesn't prepare your statutory accounts, work out your corporation tax or file anything with Companies House. We use what's in Xero to do that, and to tell you what the figures mean while there's still time to act on them.
No. You send HMRC an update every quarter, but you still pay on 31 January and 31 July. We use each update to tell you what the year's bill is heading for.
It means we're qualified members of ACCA and work to its professional standards, including keeping our training up to date. Some lenders ask for accounts from a chartered accountant, so it can matter when you apply for a mortgage or a loan.
It reflects how many of our clients use Xero and how long we've worked with it. If you're moving onto Xero, we'll set it up, connect your bank feeds and show you how to use it.
Less than most people expect. You tell us, we contact your current accountant for what we need, and we take it from there.
Yes. You'll have one main contact who knows your business.
No. Most clients work with us by email, phone and our secure online portal, and we're happy to meet in person if you'd rather.
No. We act for limited companies, sole traders, partnerships and landlords, from people just starting out to companies turning over millions.
Get in touch
Tell us what you do and what you need. The first conversation is free.