Tax

8 June 2022

Company Bonus or dividend?

Confused about the difference between a company bonus and dividend? Find out what you need to know. What’s the difference between a company bonus and dividend? A bonus is a one off payment made to an employee or director of a company. Dividends are… Read more

20 April 2022

HMRC tax deadlines for 2022

Now the new tax year has begun, it’s a good idea to keep track of the tax deadlines that could affect you and your business. The tax year runs from 6 April 2022 to 5 April 2023. Self Assessment tax return A Self Assessment tax return is submitted to… Read more

12 April 2022

Tax on dividends guide

If you’re curious about dividends, and what tax you may need to pay on them, here’s a helpful guide to help you get started. What are dividends? Dividends are payments you might receive if you own shares in a company. For example, as a shareholder… Read more

7 April 2022

Sole trader National Insurance explained

Sole traders need to register to pay National Insurance contributions to HMRC. This guide will take you through what they are, how much you need to pay, and how to make your payment. What is National Insurance? National Insurance contributions… Read more

6 April 2022

Complete guide to UK taxes and rates

When you run your own business or work as a sole trader, you become responsible for taking care of your taxes. In the UK there are several different types of taxes which could affect you or your business. The current tax year falls between 6 April… Read more

15 February 2022

What is Making Tax Digital?

As of April 2019, VAT-registered businesses with a turnover of more than £85,000 are required to use the Making Tax Digital (MTD) service to keep records digitally and use accounting software to submit their VAT Returns. This will enable businesses… Read more

7 February 2022

What can you claim as allowable expenses?

You can reduce your tax payment by deducting allowable expenses, so it’s important to know what you can claim on. What are allowable expenses? Allowable expenses are running costs for your business. You can deduct them from your profit, so you don’t… Read more

1 November 2021

Self Assessment checklist – make sure you're prepared

Submitting your Self Assessment tax return doesn’t have to be stressful! Here’s a helpful checklist to make sure you’re ready to submit yours before the deadline. What’s the Self Assessment tax return deadline? If you didn’t send an online tax… Read more

22 October 2021

What you need to know about year end accounts

Want to know more about year end accounts for limited companies? We take you through what you need to know. What are year end accounts? Year end accounts are also known as annual accounts or statutory accounts. They are a summary of your business… Read more

29 September 2021

Making Tax Digital for Income Tax is coming in 2024

The government has recently announced that Making Tax Digital for Income Tax will come into force in 2024, a year later than the original deadline. We take you through what Making Tax Digital for Income Tax is, how it will affect your business and… Read more

28 July 2021

4 reasons to submit your Self Assessment tax return early

Did you know that you can submit your Self Assessment tax return as soon as the tax year ends? Instead of leaving it until the last minute, here’s why you should submit your return early. 1. Less last minute stress Self Assessment season in January… Read more

1 July 2021

5 tax mistakes to avoid

Doing your tax can seem scary, but with the right tools it can be simple. We take you through common tax mistakes and how to avoid them. Leaving it to the last minute When you leave your tax returns to the last minute it can get stressful. Searching… Read more

8 April 2021

How to start the new tax year

The start of a new tax year is a chance to prepare for the year ahead and get your accounts in order. Here are some tasks you can do to help make the next tax year go smoothly. Prepare for Self Assessment Although the Self Assessment deadline for… Read more

10 March 2021

How to prepare for the end of the tax year

The end of the tax year is almost here! Follow this step-by-step guide to help you prepare. Make sure you’ve submitted your Self Assessment tax return Self Assessment tax returns were due 31 January 2021. So, make sure you’ve submitted yours. If you… Read more