It doesn't quite feel possible, but this month marks 12 months since Becky and I took over Peregrine.

When we became directors, we already knew the business and the clients, but over the last 12 months we've had the opportunity to really start shaping Peregrine into the practice we want it to be.

Peregrine already had a great team and longstanding relationships with many of our clients, so for us the last 12 months have been about building on those foundations and gradually putting our own stamp on the business and creating a practice that our team enjoy being part of and where our clients feel they have people around them who genuinely understand and care about their businesses.

Our first couple of blogs have focused on tax, business and the latest updates affecting our clients — but this month, we’re doing something a little different and sharing a more personal update from the Peregrine team.

Our Director, Sophie, has committed to running the 2027 London Marathon for the Heart Research UK, a charity with a very special connection to Peregrine. Putting it into writing for everyone to see is slightly terrifying, but that is partly the idea — now it’s public, there really is no backing out!

After years of delays, discussions and preparation, Making Tax Digital for Income Tax is finally here—and the first quarterly reporting period has now come to an end.

For sole traders and landlords included in the first phase of MTD, digital records should have been kept from 6 April 2026. The first reporting period ended on 5 July, with the initial quarterly update due to HMRC by 7 August 2026.

Although quarterly updates are not full tax returns, this is a major change to the way many individuals report their business and property income. Instead of dealing with everything once a year, records must now be maintained digitally and information submitted to HMRC throughout the year.

We have already contacted all clients who we believe are affected this year, and our preparation for their first submissions is well underway. However, if you are unsure whether MTD applies to you—or you have not yet registered, chosen suitable software or brought your records up to date—now is the time to get it sorted.

Most business owners don't want to pay more tax than they need to – but many perfectly legitimate opportunities are often overlooked.

From annual staff functions and family members working in the business to electric company cars and relevant life policies, we've rounded up some of the practical tax-saving ideas we discuss most often with our clients.

You might already be making use of some of them, but there's a good chance you'll find at least one opportunity you hadn't considered.