If you’re preparing to sell your business, wind it down, or even pass it on to the next generation, there’s a major change you can’t afford to overlook. New Capital Gains Tax (CGT) rules came into effect from 6th April 2025. These changes are already influencing how much tax business owners pay when exiting, and…
If you’re running a limited company or managing business accounts, keeping on top of deadlines has always been important, but in 2025 it has become critical. Both Companies House and HMRC are tightening their penalty systems, meaning even small delays could lead to larger and more frequent fines. These changes are designed to improve compliance,…
Running a small business is an exciting journey, but it also comes with plenty of challenges, especially when it comes to managing your finances. Accounting mistakes don’t just cause headaches; they can cost you time, money, and even your peace of mind. Here are 7 of the most common mistakes small business owners make and…
If you operate a limited company, there’s an important deadline coming up. On 31 March 2026, the government will shut down its free joint filing service for both HMRC and Companies House submissions. After this date, you’ll need to use commercial filing software to file annual accounts and Company Tax Returns (CT600). What’s Changing? Currently,…
Starting a business is a bold and exciting step, but it can also be a little overwhelming. From the moment you commit to going out on your own, there’s a lot to think about. The good news? Getting a few key foundations in place early can make the whole journey much smoother. Whether you’re launching…
Making Tax Digital for Income Tax Self Assessment (MTD ITSA) is a big change coming to many sole traders and landlords, but it’s also a fantastic opportunity to modernise how you manage your finances. Rather than seeing it as just another requirement, we believe it’s a chance to take control, get more visibility, and work…
Being self-employed gives you a lot of flexibility, but summer can still bring its own set of challenges. Whether you’re juggling school holidays, facing a seasonal dip in income, or just trying to stay on top of your accounts when you’d rather be enjoying the sunshine, planning ahead can make a big difference. Juggling Kids…
If you’re self-employed, a landlord, or have other income that isn’t taxed at source, you may have heard of payments on account. It’s a part of the UK tax system that often causes confusion, but don’t worry, it’s actually quite straightforward once you break it down. Let’s take a quick look at what it means,…
It’s common for directors of small limited companies to take money out of the business through a director’s loan account (DLA), especially when drawing funds ahead of dividends or during tight cash flow periods. But if this account becomes overdrawn, there are tax consequences that both the company and the director need to be aware…
Selling a second property in the UK involves understanding the Capital Gains Tax (CGT) implications to ensure compliance and effective financial planning. As of 1st April 2025, several changes to CGT rates and allowances will affected how much tax you may owe upon disposal of such properties. Understanding Capital Gains Tax on Second Properties When…