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…
Setting the right price for your products or services is one of the most important decisions you’ll make as a business owner. Yet it’s also one of the hardest. Many small businesses avoid increasing their prices because they worry about losing customers, appearing too expensive, or being undercut by competitors. While those concerns are understandable,…
Companies House is undergoing its biggest reform in decades, with several changes already in place and more due to come into effect over the next few years. The aim is to improve the accuracy of company information, reduce fraud, and make the Companies House register more reliable. For directors and small business owners, these reforms…
HMRC has increased the approved mileage rate for employees using their own car or van for business travel. From 6 April 2026, the rate for the first 10,000 business miles has increased from 45p to 55p per mile. For many employers, this is a welcome change, but it also raises some practical questions. Do reimbursement…
Making Tax Digital for Income Tax (MTD for IT) is one of the biggest changes to the Self Assessment system in recent years. From April 2026, many sole traders and landlords will need to keep digital records and submit quarterly updates to HMRC using compatible software. Although the new rules have been widely discussed, there…
Many businesses look successful from the outside. Sales are increasing, the phone is constantly ringing, new work keeps coming in, and the business appears to be thriving. Yet behind the scenes, many owners still feel under pressure financially. How is that possible? The answer is often cashflow. A business can be profitable on paper and…
If you’re a director of a limited company, it’s easy to assume that if your business pays for something, it’s automatically tax-deductible. Unfortunately, that’s not always the case. Many everyday business expenses are classed as Benefits in Kind (BIKs), creating an unexpected tax liability for both the company and the director. For small businesses, these…