September Newsletter

Posted on 3rd September 2025

As autumn begins, the team at Bidwell Accountancy Ltd, Milton Keynes accountants, brings you the latest financial and tax developments that may affect you or your business.

This month’s newsletter includes:

⚠️ Warnings on misleading Stamp Duty Land Tax (SDLT) claims

🏦 New protections against unfair bank account closures

💡 What to do if you can’t pay a tax bill

📊 Updates on Making Tax Digital (MTD) exemptions for self-employed and landlords

📅 Your September & October 2025 tax diary

At Bidwell Accountancy, we provide tailored support for small businesses, landlords, and self-employed individuals across Milton Keynes and beyond. If you have any questions, our friendly team is here to help.

⚠️ Stamp Duty Land Tax – Important Warning for Homebuyers

HMRC has warned homebuyers about rogue agents promoting false Stamp Duty Land Tax repayment claims. Some buyers are being misled into reclaiming SDLT on the basis that a property needs repairs, but in reality, the property still qualifies as a dwelling and remains liable for residential SDLT rates.

Key takeaway: If a property is structurally sound and was previously used as a home, it remains residential even if it needs modernisation. False claims can leave you owing HMRC thousands in repayments, interest, and penalties.

👉 At Bidwell Accountancy, we can assess your circumstances and advise on whether you’re genuinely eligible for SDLT relief – without the risks.

🏦 Stronger Protections Against Debanking

From April 2026, banks and payment service providers must now give 90 days’ notice before closing an account, up from the previous 2-month rule.

They must also provide a clear explanation for closure, giving customers the right to challenge the decision through the Financial Ombudsman Service.

This is a welcome change for small businesses and individuals who have previously been left without access to banking facilities with little or no notice. Exceptions remain for cases linked to financial crime.

💡 What to Do If You Can’t Pay a Tax Bill

If you’re struggling to pay a tax bill, it’s important not to ignore the problem. HMRC may allow you to set up a Time to Pay arrangement, letting you spread repayments over a manageable period.

If ignored, HMRC may escalate matters by:

Recovering money directly from your bank account, wages, or pension

Taking control of possessions

Starting court or insolvency proceedings

👉 If you’re worried about an upcoming tax bill, speak to Bidwell Accountancy. We can liaise with HMRC on your behalf and help reduce the financial pressure.

📊 Making Tax Digital (MTD) – Exemptions for Self-Employed & Landlords

From April 2026, self-employed individuals and landlords earning over £50,000 must follow Making Tax Digital (MTD for Income Tax) rules.

This means:

Keeping digital financial records

Submitting quarterly updates

Complying with a new penalty regime for late submissions

Some exemptions exist, such as for those who are digitally excluded (due to age, disability, or location) and certain groups such as trustees, estates, and non-resident companies.

👉 If you’re unsure how MTD will impact your tax reporting, our Milton Keynes accountants can help you prepare now to avoid last-minute stress.