Many businesses begin with the owner doing almost everything. You win the work, deliver it, answer questions, approve spending and solve the problems. That involvement can be essential in the early days, but as the business grows, being needed for every task and decision can become a barrier. If everything stops when you stop, it…
Being a landlord comes with plenty of costs, from repairs and insurance to letting agent fees and safety checks. The good news is that many of these costs can reduce your taxable rental profit. The less good news? Not everything you spend on a rental property is an allowable expense. Understanding what expenses landlords can…
If you provide benefits to employees or directors, such as company cars, private medical insurance or other taxable perks, you may already be familiar with P11D forms. The way these benefits are reported to HMRC is changing, but the latest plans are slightly different from those originally announced. Mandatory payrolling of benefits in kind was…
Most businesses only start thinking about VAT when their turnover gets close to the registration threshold. Currently, you must generally register for VAT if your VAT taxable turnover exceeds £90,000 in a rolling 12-month period. But you don’t have to wait until then. You can choose to register voluntarily while your turnover is still below…
One of the biggest causes of unnecessary stress for business owners is receiving a tax bill without having enough money set aside for it. It’s easily done. You look at your business bank balance, see that there’s plenty of cash available and assume you’re in a healthy position. The problem is that some of that…
A full diary, new enquiries coming in, sales increasing, more work in the pipeline. For most business owners, these all feel like signs that things are going well. And they can be. But there’s an important question to ask: is all that extra work actually making your business more profitable? Being busy and running a…
Making Tax Digital for Income Tax (MTD) has been talked about for years. But for some landlords, it is no longer something to prepare for in the future, it is already here. From 6 April 2026, Making Tax Digital for Income Tax began applying to landlords and sole traders whose qualifying income is above £50,000.…
Whether you’re thinking about buying a new van, upgrading your computer equipment, investing in machinery, or replacing specialist tools, purchasing business equipment can help improve efficiency and support future growth. However, before making a significant investment, it’s important to look beyond the price tag. A new purchase should strengthen your business financially, not simply reduce…
Buying a rental property with your partner can seem relatively straightforward. You buy the property together, find tenants, collect the rent and share the profits. However, deciding who owns what share of a rental property is an important part of the process. Your ownership structure can affect how rental income is taxed, your future financial…
Running a business often means wearing many hats. You’re responsible for managing finances, making key decisions, serving customers, and keeping everything moving. But have you ever stopped to consider what would happen if you were suddenly unable to work? Whether it’s due to illness, an accident, or another unexpected event, even a short period away…