With summer holidays fast approaching, Derby-based accountants Vibrant Accountancy are encouraging business owners to check in on recent tax changes and upcoming deadlines before switching off for a well-earned break.
For Vibrant Accountancy founder Bev Wakefield, the message is about helping business owners clear some headspace before they take a break.
“Business owners carry a huge amount of responsibility. Even when they’re away, there’s often a mental checklist running in the background. My hope is that by taking a few minutes to review where they are now, they can head into the summer feeling lighter, more confident and able to come back more refreshed.”
Early July brings several important employer deadlines that can easily catch businesses out.
These include:
- 5 July – Deadline for new PAYE Settlement Agreement (PSA) applications.
- 6 July – P11D submissions for taxable employee benefits.
- 6 July – Employment Related Securities (ERS) returns for businesses with employee share schemes.
These obligations often relate to decisions made months ago, such as providing private medical insurance, company cars, staff rewards, director’s loans or issuing shares.
“They’re the sort of things that don’t always feel urgent at the time,” says Bev. “A company car, a staff gift or a share issue might seem like a small decision, but it can create a reporting obligation that’s easy to overlook.”
But Bev believes the summer check-in shouldn’t stop with the July deadlines.
It’s also an ideal opportunity for business owners to step back and consider whether recent tax changes have affected the way they run their business.
That could include reviewing:
- Whether their salary and dividend strategy is still the most tax-efficient way to take income.
- Whether they’re prepared for the continued rollout of Making Tax Digital.
- Whether changes in profits or business performance create new tax planning opportunities.
- Whether it’s time for a broader conversation about tax planning before their year-end.
“Some of the most valuable conversations we have with clients aren’t about completing forms,” Bev explains. “They’re about helping people make better decisions before they become problems. A simple mid-year check-in can often save money, reduce stress and give business owners confidence that they’re heading in the right direction.”
Ultimately, Bev hopes business owners use the summer to do exactly what it’s intended for.
“We spend a lot of time talking about building businesses that support the life you want to live. Part of that is being able to take a proper break. If a quick conversation now helps someone enjoy their holiday without wondering if they’ve forgotten something important, then it’s time well spent.”
Business owners who are unsure whether the July deadlines apply to them, or who would like to review how recent tax changes could affect their business, are encouraged to speak to their accountant before taking their summer break.
Vibrant Accountancy has a number of free resources and guides available here: https://vibrantaccountancy.co.uk/blog/tax-planning-for-2026-27-a-guide-for-business-owners/ or https://vibrantaccountancy.co.uk/blog/making-tax-digital-guide-for-business-owners/.
