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…
For most business owners, paying tax isn’t the problem. The real frustration comes when the bill is much higher than expected. It’s a situation we see far too often. A business has had a successful year, but because there have been no conversations about tax along the way, the first time the owner discovers what…
The 2025 Autumn Budget confirmed a number of changes to how savings income will be taxed from April 2027. The headline increase appears relatively small, but the wider impact could be more noticeable once changes to allowances and ISA rules are taken into account. If you have savings, investments, or business cash reserves, now is…
For many business owners, bookkeeping is something that gets pushed down the to-do list. Invoices pile up, receipts get left in drawers, and bank transactions are left unreconciled until year-end approaches. The intention is usually the same: “I’ll sort the books later.” Unfortunately, leaving your records until the last minute can become an expensive habit.…