Category: Self-Assessment

Empowering small businesses, for lasting success.

Stop Leaving Your Tax Return To The Last Minute

Are you fed up with leaving your tax return to the last minute? Many business owners find that tax returns can be a real headache, causing unnecessary stress. But fear not! With some clever planning and savvy decision-making, we can turn this seemingly daunting process into something way more manageable. This blog post is here…
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Breaking Up with Your Accountant: A Guide on How to Switch

UK Contractors Self-Assessment Guide

Being a contractor in the UK is an exciting and flexible job where you work on various projects. It’s great because you can use your skills in many areas. But there are some essential things to take care of, including handling your taxes and self-assessment. This blog post is like a helpful guide for UK…
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Your Guide to Tax-Deductible Parties

A team Christmas party is a long-standing tradition. It brings everyone together, makes them happy, and boosts morale. But the thought of dealing with taxes might make the celebration a little less jolly. No worries, though! The UK tax system allows businesses to have parties while scoring tax deductions. Check out our blog “Staff and…
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What UK Businesses Need To Know About Entertainment Expenses

In the world of business, fostering strong relationships with both staff and clients is essential for success.  This often involves hosting events or engaging in activities that promote networking and goodwill.  However, when it comes to the expenses incurred for staff and client entertainment, it’s important for UK-based businesses to understand what can be claimed…
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The Ultimate Company Van Guide For Tax

Are you considering buying or leasing a company van? It’s an important decision that can have tax implications for your business. In this tax guide, we’ll explore the difference between buying and leasing a company van and help you understand the taxes you can save in each scenario. The Difference Between Buying and Leasing Let’s…
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6 Powerful Reasons to Complete Your Tax Return Early

Filing your tax return on time is crucial, but did you know that submitting it early can bring you even more benefits? By completing your tax return before the deadline, you can enjoy the following positive advantages: 1. GET YOUR TAX REFUND QUICKER If you have paid too much tax throughout the previous year, filing…
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Making Tax Digital 2023/2024: Everything You Need To Know

Did you know that since 2019, the vast majority of VAT-registered businesses with a taxable turnover above the VAT threshold (£85,000) have been asked to keep digital VAT records and send returns using Making Tax Digital (MTD)-compatible software. From April 2022 these requirements will apply to all VAT-registered businesses. There will be a requirement to…
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How To Pay Your Self-Assessment

This week’s post is all about paying your self-assessment tax return, and what you can do if you cannot pay it as soon as you file your return (before 31st January) You’ll get a bill when you’ve filed your tax return. If you filed online you can view this: when you’ve finished filling in your…
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The Ultimate Guide to Employer Expenses and Benefits

Are you an employer and you provide expenses/benefits to employees or directors. Here is some advice, you might need to tell HM Revenue and Customs (HMRC) and pay tax and National Insurance on them. Examples of expenses and benefits include: company cars health insurance travel and entertainment expenses childcare Reporting and paying At the end…
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How to Claim Capital Allowances Like a Pro

Writing down allowances When you buy business assets you can usually deduct the full value from your profits before tax using annual investment allowance (AIA). Use ‘writing down allowances’ instead if: you’ve already claimed AIA on items worth a total of more than the AIA amount. the item does not qualify for AIA (for example,…
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