Our Blog Posts
See our latest articles on the current accounting and taxation issues affecting our clients.
Streamline Your Limited Company Set Up
While we offer a free company formation service for all of our new accounting clients, we still have a handful of new clients that come to us with a pre-formed limited company. For those who are looking to make a move into contracting, the company formation process is...
Transitioning from Employee to Contractor: Understanding the Key Differences
For a lot of our new contractor clients the switch from being an employee to a contractor can seem daunting and overwhelming. There are so many balls to juggle, and it's a complete shift in mindset from being a full-time employee to an independent contractor. Today...
2024 Spring Budget Updates
Today the Spring Budget 2024 speech was delivered by Chancellor Jeremy Hunt. Here we delve into the heart of the 2024 Spring Budget and what it means for you. As professionals navigating the complexities of the UK tax system, staying informed on governmental updates...
Paying Tax on Dividends in 2024/25
Today we look at the tax impact of taking dividends in the 2024/25 tax year. While the dividend allowance has again been reduced (from £1,000 in 2023/24 to £500 in 2024/25), the tax rates and income bands are largely unchanged, and there are still ways you can receive...
Ultimate Guide to Register as Self Employed: Tax Tips and Steps for 2024
Although the vast majority of our clients still tend to be limited company contractors, we have certainly noticed an increase in new clients using our sole trader accounting service who are self-employed. Those who are newly self-employed often have...
What is the VAT: A Simple Guide to Understanding Value-Added Tax for Beginners
This guide is intended for contractors and freelancers who want a basic understanding of VAT and how it works for their business. What we have found is many of our new clients who don't have any previous experience working for...
What is a Dormant Company, and What do I need to tell Companies House and HMRC.
There are times when our clients want to make their limited company dormant. This isn't when they stop working through it for a few months, but rather they want to cease trading for an extended period of time, usually several...
Maximizing Savings: A Guide to Navigating Tax for Contractors
With the new year now behind us I thought January would be a good time to recap on the taxes that limited company contractors are liable for when working through their own limited company. This guide will be particularly useful for contractors looking to use a...
Crypto Tax UK: How to Work Out What You Need to Pay
Questions around paying tax on crypto assets tend to rise and fall with the value of underlying crypto assets, and with the rise in Bitcoin over the past year or so, I thought now was a good time to prepare a blog article about crypto and taxes. Recently the HMRC...
Deadline for Tax Return Approaching: Stay Informed and Avoid Penalties!
With the New Year celebrations now behind us, its time to start thinking about filing your personal tax return for the 2022/23 tax year. For those of you who have already done this, well done!! For those of you to plan of putting this off...
Maximizing Tax Deductions: Can I Claim a Christmas Party as a Business Expense?
This article is dedicated to all of the limited company contractors and freelancers who have left their Christmas tax planning to the last minute. It might be because they're still trying to get those last billable hours charged before the Christmas break, or they've...
Joy Pilot: Effortless Cloud Accounting Software
As many of you will know, we have always developed our own accounting software for our clients to use. We initially did this because when we started our business in 2003, there was no cloud accounting software available for our clients, and we also really liked the...