Do you think of accountants as serious suit-wearing, pen-wielding number-crunchers? A bit dull and grey maybe? Think again! To combat misconceptions, we have put together this blog to showcase 10 accountant facts we bet you didn’t know. 1. The Invention of Bubblegum A...
Window Tax is a curious piece of history. It has shaped homes and sparked debate for more than 150 years. Its legacy reminds us that while governments design taxes to raise funds, people always adapt to lessen the burden. Sometimes, those adaptations go on to reshape...
Running a limited company comes with responsibilities and one of them is filing your Company Tax Return. You do this using the CT600. Knowing what this form is and how to submit it correctly can save you time and money. What is the CT600? The CT600 is the official...
HMRC has relaunched a scheme that allows it to access take unpaid taxes directly from people’s bank accounts. If you owe at least £1,000 and ignore repeated reminders, HMRC can now instruct your bank or building society to release the funds. This includes money...
Stamp Duty Land Tax is a tax you may need to pay when taking on leases in the UK. It can be a major expense, particularly for longer commercial leases or higher-value properties. What Stamp Duty Covers Stamp Duty applies to two elements of a lease: The Premium (the...
Buying a leasehold property is a way to own a home without purchasing the land. These properties are very common in the UK, especially for flats and maisonettes. Some houses can also be leasehold, particularly legacy and shared ownership schemes. The Leasehold and...
The government has opened a voluntary repayment window for people and businesses that received unentitled COVID support money. This is your final chance to repay what you owe. The window stays open until December 2025. Official Guidance: Covid repayment window opens...
Disallowable Expenses are a common source of confusion, but the rules are straightforward once you understand the basic principle. If a cost is not “Wholly and Exclusively” for business use, you cannot claim it. Claiming the wrong expenses can quickly lead...
Managing and being named under multiple businesses is common in the UK. Many entrepreneurs and investors register more than one company under their name on Companies House. While this is perfectly legal, it can sometimes raise questions. Without proper management,...
Council Tax is a local tax on residential properties throughout England, Scotland and Wales. It helps councils fund a wide range of essential services, such as: Rubbish collection Street lighting Recycling services Road maintenance Local schools Libraries Public parks...
A Dormant Company is a limited company that is officially registered with Companies House but is not currently carrying out any business activity or receiving income. Simply, the company is not trading and receiving absolutely no income. That means it is not: Selling...
A fuel card lets you purchase fuel exclusively at designated petrol stations. It works much like a credit or debit card, but businesses use it specifically for managing fuel expenses. The business pays for all transactions directly, so drivers do not need to pay...
When sending large sums of money to HMRC, many taxpayers only feel at ease once they confirm their payment has cleared. The good news is that checking whether HMRC has received your payment is simple. Who Needs to Pay Tax to HMRC? Not everyone needs to pay HMRC...
Renting out property can be a fantastic way to earn extra income. To make the most of your rental income and avoid any unexpected tax bills, you need to understand how Property Income works. What is Property Income? Property Income is the money you earn from land or...
Renting out property is a popular way to earn extra income. Whether you are letting a single flat, a family home or managing a portfolio of properties, you must understand the rules around rental income and taxation. What is Rental Income? Rental income includes more...
When you purchase equipment or other assets for your business, they naturally decrease in value over time due to wear and tear. Rather than claiming the full cost of an asset upfront, Writing Down Allowance spreads the tax relief over several years. Writing Down...
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...
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....
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 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 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 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...
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...
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...
