Category: Corporation Tax
How to Change Accountant: A Stress-Free Guide for Business Owners
Switching accountants might seem daunting, but you don't need to wait until year-end to make the change. Your business or limited company can transition to WCL smoothly with minimal disruption. The switch makes sense when your current accountant fails to provide proactive advice or overlooks potential savings. The process works seamles...
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Contractor vs Employee: The Truth About Hiring Costs in 2025
The contractor vs employee decision can save your business thousands of pounds if you understand the true cost implications. The UK has 2.05 million freelancers in 2024, and businesses are thinking over their hiring options more than ever. Contractors might charge higher hourly rates than employees, but the complete financial picture isn'...
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Changing from Sole Trader to Limited Company: Your Step-by-Step Blueprint
Are you running a sole trader business that's making £50,000 yearly profits? At the time your earnings hit this threshold, switching from sole trader to limited company status becomes a smart financial choice. Your growing business might make you think about changing to a limited company structure to save on taxes. In fact, the switch...
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How to Read a Balance Sheet: A Plain-English Guide for UK Business Owners
Reading your balance sheet isn't just good practice - it's crucial for any business owner. Your balance sheet shows what your business owns (assets) and owes (liabilities) at any given moment. This financial statement ranks among the most important documents that business leaders, regulators, and potential investors need to understand. ...
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2025/2026 Tax Rates and Allowances
The tax year runs from 6 April. Here’s an overview of the main tax rates, allowances and national Insurance contributions that you need to be aware of for the tax year starting 6 April 2025. If you have any questions, would like to understand what rates specifically apply to yourself, or what allowances are available, please get in t...
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Spring Statement 2025
On Wednesday 26th March 2025, Chancellor Rachel Reeves delivered her Spring Statement. In terms of announcements for the average person, it was fairly low key with many of the announcements more aimed at a national level in terms of defence spending, overseas aid, etc. That said, there were of course still announcements to be aware of. An...
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How to Reduce Corporation Tax: Practical Steps for Businesses
Navigating the financial landscape of corporation tax can often feel like an intricate chess game, where understanding the rules and implementing strategic moves can significantly benefit your business's bottom line. Learning how to reduce corporation tax is not just beneficial; it's essential. The importance of this endeavor lies not onl...
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Autumn Budget 2024
This week new Chancellor Rachel Reeves announced both her first Budget & also the first of the new Labour government. On that note, it feels like almost every time we write about the Budget Statement in recent times we have to make reference to a new Chancellor. With the Labour Party only recently elected, hopefully this time we may g...
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HMRC Christmas Party Exemption: What Your Company Needs to Know
It may only be September, but supermarkets already have mince pies on sale. As far as we’re concerned, that means it’s ok to mention the “C” word. On that note, a common question we get asked about the holiday season is around HMRC rules on the Christmas party exemption and how it affects your company's festive celebrations. Un...
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A Labour Promise
As far as General Elections go, the indications as to which party would succeed was fairly obvious from the off. The polls predicted a Labour win early on, and very little changed throughout. And so, after 14 years in charge, the Conservatives are out and now it’s over to Keir Starmer and Labour to get the Country back on track. S...
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