Tax Return Information: What To Give Your Accountant

Tax Return Information: What To Give Your Accountant

We understand that filing a Self Assessment can feel daunting. However, if you have an accountant, providing them with accurate information can make the completion of your tax return much easier and less stressful. Additionally, giving your accountant the information...
Nil Return | Reporting Zero VAT

Nil Return | Reporting Zero VAT

If you are VAT-registered in the UK, you must submit a VAT Return every quarter. This rule applies whether or not your business has traded during that period. When you have no VAT to report, you must file a “Nil Return”, also known as a Zero VAT Return....
What is a Confirmation Statement?

What is a Confirmation Statement?

A Confirmation Statement is an annual report that directors submit to Companies House. It confirms details about your business, such as: Registered office address Details of directors and shareholders Standard Industrial Classification (SIC) codes to describe business...
HMRC Delays | What You Need to Know in 2025

HMRC Delays | What You Need to Know in 2025

HMRC is facing mounting criticism over long delays in processing tax refunds. In cases, individuals and businesses have been waiting more than four months to receive their money. This marks a sharp increase from the previous average of four to six weeks. For small...
The 50% First-Year Allowance | Tax Relief

The 50% First-Year Allowance | Tax Relief

The 50% First-Year Allowance is a tax relief which should encourage business to invest in new assets. It allows them to deduct 50% of the cost of eligible Capital Expenditure in the year they purchase it. This immediate reduction can reduce your Corporation Tax bill...
Full Expensing | Tax Relief

Full Expensing | Tax Relief

Full Expensing is a tax relief which should encourage businesses to invest in their own growth. It allows them to claim the entire cost of qualifying Plant and Machinery in the year they purchase it. This immediate deduction reduces your taxable profits and frees up...
Interest Rates Cut to 4%

Interest Rates Cut to 4%

The Bank of England has cut interest rates to 4%, marking the lowest level in over two years. Announced today, 7th August 2025, this is the fifth consecutive rate cut since August 2024. The Bank aims to inject momentum into a struggling economy while keeping...
SIC Codes

SIC Codes

If you have ever registered a company in the UK, you have likely come into contact with “SIC Codes”. But what actually are they and why do they matter to your business? What is a SIC Code? SIC Code stands for “Standard Industrial Classification...
Companies House Authentication Code

Companies House Authentication Code

If you run a limited company in the UK, many of your legal obligations rely on one small but powerful tool: The Companies House Authentication Code. This unique code acts as your digital signature and grants you secure access to update your company’s information...
Sick Pay for the Self-Employed

Sick Pay for the Self-Employed

With no employer to support you and no access to Statutory Sick Pay (SSP), many self-employed workers face real uncertainty. Fortunately, there are alternative benefits and insurance options that can offer support during periods of illness. Why the Self-Employed...
Self-Employed Expenses: How To Claim Guide

Self-Employed Expenses: How To Claim Guide

Your business exclusively incurs self-employed expenses. You deduct these expenses from your income to calculate your taxable profit. Expenses must be “Wholly and Exclusively” for your business. You cannot claim personal expenses, such as personal shopping...
How to Register as Self-Employed

How to Register as Self-Employed

Whether you are launching a freelance career or building a full-time business, the first step is to register as Self-Employed with HMRC. This makes sure you declare your income properly and that you meet all legal obligations. What Does It Mean to Be Self Employed?...
Incorporation Relief

Incorporation Relief

Incorporation Relief is a valuable tax break that allows business owners to delay paying Capital Gains Tax when they transfer their business into a limited company. Rather than facing an immediate tax bill on the capital gain made at the time of transfer, the tax...
Depreciation Explained By Accountants

Depreciation Explained By Accountants

If your business owns equipment, vehicles or other valuable items that last more than a year, understanding Depreciation will help you in the long run. What is Depreciation? Depreciation is the reduction in value of a business asset over time. This loss in value...
Cost of Goods Sold (COGS)

Cost of Goods Sold (COGS)

Cost of Goods Sold, also known as Cost of Sales and abbreviated to COGS, refers to the direct costs involved in producing goods or services sold by a business. What is Cost of Goods Sold? Cost of Goods Sold represents the expenses directly tied to producing a product...
The Profit and Loss Statement

The Profit and Loss Statement

Every business, regardless of size, needs to track its performance. One of the most effective ways to do this is with the Profit and Loss Statement (P&L), also known as an Income Statement. This document provides a summary of a business’s income and expenses...
The Small Profits Rate

The Small Profits Rate

In April 2023, the UK Government introduced a tiered system for Corporation Tax, making it more flexible and supportive for businesses at different stages of growth. This also brought the reintroduction of the Small Profits Rate, which reduces the tax rate...
Second Payment on Account

Second Payment on Account

If you are self-employed or submit a Self Assessment tax return, you should be familiar with Payments on Account. These advance payments help spread the cost of your tax bill across the year, preventing one large lump sum. The Second Payment on Account is fast...
Annual Accounts

Annual Accounts

Every limited company in the UK must file Annual Accounts. These accounts, often referred to as Statutory Accounts, provide a detailed and transparent view of your company’s financial position over the past year. Filing these accounts is a legal obligation. What...
Company Information on Companies House

Company Information on Companies House

Companies House is the UK’s official register of companies. If you run a limited company in the UK, you must provide specific information that becomes publicly available. This requirement supports a wider framework of corporate openness. Why Must Company...
Common Control

Common Control

Common Control transactions are becoming increasingly common as companies adapt to global economic shifts and changing regulations. What is Common Control? Common Control occurs when one person, or a group acting together, controls two or more businesses. This control...
People with Significant Control

People with Significant Control

Running a company in the UK means understanding and complying with various legal obligations. One of the most important requirements is identifying your People with Significant Control (PSCs). What are People with Significant Control? A Person with Significant Control...
Authorised Corporate Service Provider (ACSP)

Authorised Corporate Service Provider (ACSP)

From Spring 2025, if you file information or verify the identity of clients for Companies House, you may need to register as an Authorised Corporate Service Provider (ACSP). What is an ACSP? An Authorised Corporate Service Provider is a person or business authorised...
Verify Your Identity with Companies House

Verify Your Identity with Companies House

To increase transparency and reduce fraud, Companies House now requires you to verify your identity if you manage or own a UK-registered company. This is part of the Economic Crime and Corporate Transparency Act 2023 and therefore represents a shift in how companies...