For freelancers, sole traders, and small company directors, accounting is often a word that triggers a mild sense of dread. It conjures up images of overflowing spreadsheets, confusing tax codes, and the constant worry of whether you’re doing things right. When you’re just starting out, DIYing your finances to save a bit of cash makes […]
For many directors of close companies (companies controlled by five or fewer shareholders), the lines between personal and business finances can sometimes blur. It’s easy to treat the company bank account as an extension of your own, taking an advance on your salary or withdrawing funds to cover a personal emergency. When you do this,
Managing Your Director’s Loan (Without the Tax Headache) Read More »
If you run a family-owned limited company, you have probably spent years relying on the classic “low salary, high dividend” strategy to save tax. For decades, it has been the go-to advice for tax-efficient profit extraction. However, recent changes to the UK tax system have dramatically shifted the landscape. With the threshold for Employer National
Think Dividends are Cheaper? Why Family Businesses Need to Rethink Payroll in 2026/27 Read More »
Making Tax Digital (MTD) for Income Tax officially arrived on 6 April 2026 for many UK sole traders and landlords. If your qualifying income is over £50,000, you are likely already in the new system. But with any big change comes a lot of confusion. We’re here to clear up the white noise and share some good news
With MTD ITSA (Making Tax Digital for Income Tax Self Assessment) in place now, a lot of UK taxpayers are looking to move away from spreadsheets and onto the accounting software. (If you’re still in a muddle about the changes, this is a great guide) Moving from Excel to a cloud platform like Xero, QuickBooks, or
How to move from spreadsheets to accounting software with ease: step by step guide Read More »
Looking at Xero, Quickbooks and Freeagent software solutions Moving from spreadsheets to accounting software is often the biggest productivity win a UK business owner can have. While Excel is great for many things, it isn’t built for the upcoming HMRC Making Tax Digital (MTD) for Income Tax requirements starting April 2026. There are a lot
HMRC Making Tax Digital 2026: Moving away from Spreadsheets: Honest Software Comparison Read More »
VAT registration threshold is currently set to £90,000 however, it’s not only your revenue that you need to look at when determining if you have to register. Our expert accountants have written this brief and informative guide which explains what the issue is! Is your ad spend pushing you over the VAT limit? Many UK
The Hidden Turnover Trap – Overseas Purchases and VAT registration threshold Read More »
Revenue recognition criteria are changing from 2026 – do you know how it affects your businesses and tax? Our accountants prepared an easy to digest quick guide – read on! From “Billing” to “Obligation”For years, IT consultants have often recognised revenue based on when an invoice is sent or a project phase ends. From January
Beyond the Shift: Mastering IT Revenue Control in 2026 Read More »
WHO needs to prepare and WHEN? Making Tax Digital (MTD) is HMRC’s major initiative to modernise the UK tax system by replacing annual paper-based returns with digital record-keeping and quarterly updates. While MTD for VAT is already mandatory for all VAT-registered businesses, the next major phase is MTD for Income Tax Self Assessment (ITSA), which begins
Brief But Specific Guide to Making Tax Digital for Income Tax Read More »
Accountancy Practice of the Year 2022 – Birmingham So happy to announce we have won the Worldwide Finance Awards 2022 held by Acquisition International in the category Accountancy Practice of the Year – Birmingham. Very proud and excited, since we established 5 years ago, the needs of our clients have always been put first which
We are the winners! Read More »