by Pi Accountancy | May 7, 2026 | Advisory and Resources, Director, Frequently Asked Questions, Payroll and Employment
Directors’ Remuneration is the total compensation a director receives for their work. This includes more than just a salary. A typical package may include: Salary or director’s fees Performance-based bonuses Pension contributions Share options or equity...
by Pi Accountancy | May 6, 2026 | Advisory and Resources, Business, Frequently Asked Questions
Overheads are the ongoing costs required to run your business. However, they do not link directly to one product, service or job. Simply, these costs support your business as a whole. You should still pay them even if sales slowed down for a period. When a bakery...
by Pi Accountancy | May 5, 2026 | Advisory and Resources, Frequently Asked Questions, Taxes
When selling your home, you may not need to pay Capital Gains Tax. Private Residence Relief can reduce or remove this tax liability when you sell your main home. Simply, you do not pay tax on the profit you made from selling your home. The relief applies to your only...
by Pi Accountancy | Apr 29, 2026 | Advisory and Resources, Business
Alphabet Shares can add flexibility to a company’s share structure. They can also introduce extra legal steps and tax considerations. Many owner-managed limited companies use these shares to tailor dividends and voting power. However, the structure must comply...
by Pi Accountancy | Apr 28, 2026 | Advisory and Resources, Self-Employment and SMEs
If you run a limited company, you must prepare accounts each year. You must then submit these accounts to Companies House, where they become publicly available. However, many small companies do not need to file full Statutory Accounts. Instead, they can choose to...
by Pi Accountancy | Apr 23, 2026 | Advisory and Resources, Companies House, Regulations and Schemes
Liquidation is the process of turning business assets into cash. A limited company sells what it owns and uses the money to pay its debts. Simply, it marks the end of a company’s life. For example: Retailers often liquidate stock through sales, as this helps...
by Pi Accountancy | Apr 22, 2026 | Advisory and Resources, Frequently Asked Questions, Payroll and Employment
Remuneration refers to the total reward an employee receives for their work. It includes, salary, bonuses and a wide range of additional benefits. Simply, it represents the full value an employer offers in return for an employee’s time, skills and effort. What...
by Pi Accountancy | Apr 21, 2026 | Advisory and Resources, Business, Companies House, Frequently Asked Questions, Regulations and Schemes
A registered office address is the official location of a company. It is where government bodies send important correspondence. Companies House and HMRC use this address for all formal communication. This communication can include: Statutory notices and filing...
by Pi Accountancy | Apr 15, 2026 | Advisory and Resources, Payroll and Employment
Your payslip is more than just a record of your pay. It shows how your employer has calculated your pay, what deductions they have made, and how much you actually take home. Each payday, take a moment to review your payslip carefully. You should check your earnings,...
by Pi Accountancy | Apr 13, 2026 | Advisory and Resources, Business, Self-Employment and SMEs, Software
Bank reconciliation involves comparing your accounting records with your bank statement. The goal is to ensure every transaction appears in both places. This includes the opening balance, individual transactions and the closing balance. Simply, you check that the...
by Pi Accountancy | Apr 8, 2026 | Advisory and Resources, Business, Taxes
Business rates will change significantly for pubs and live music venues from April 2026. These changes follow a national revaluation and the removal of pandemic-era reliefs. As a result, many businesses will face higher costs despite new support measures. What are...
by Pi Accountancy | Apr 7, 2026 | Advisory and Resources, Business, Property Landlords, Regulations and Schemes, Self-Employment and SMEs, Taxes
Local councils charge Business Rates on most non-domestic properties. Councils use these funds to support local services, such as waste collection and fire services. You will usually pay Business Rates on properties such as: Shops and retail units Offices and studios...
by Pi Accountancy | Apr 2, 2026 | Advisory and Resources, Frequently Asked Questions, VAT
VAT, or Value Added Tax, is a tax on most goods and services. Businesses collect VAT from customers and pass it to HMRC. Simply, the business acts as a middleman for the government. When you buy something, the price usually includes VAT. Therefore, you often pay it...
by Pi Accountancy | Apr 1, 2026 | Advisory and Resources, Frequently Asked Questions, Inheritance Tax, Taxes
Inheritance Tax is a tax on the estate of someone who has died. Your estate includes everything you own at the time of your death. An estate normally includes: Property or land Money in bank accounts Savings and investments Personal belongings (such as jewellery or...
by Pi Accountancy | Mar 19, 2026 | Advisory and Resources, Payroll and Employment, Pension
Pensions offer valuable tax relief and help many people save for retirement. However, once you start taking taxable income from a pension, the rules can change. The Money Purchase Annual Allowance (MPAA) can significantly reduce how much you can continue saving into...
by Pi Accountancy | Mar 18, 2026 | Advisory and Resources, Payroll and Employment, Pension, Regulations and Schemes
The Tapered Annual Allowance affects many higher earners who save into pensions. It can significantly reduce how much you contribute while still receiving tax relief. What is the Annual Allowance? The Annual Allowance sets out the maximum amount that can be saved into...
by Pi Accountancy | Mar 17, 2026 | Advisory and Resources, Business, Director
The continued reduction in the Dividend Allowance has increased the tax burden for many directors and shareholders. At the same time, dividend tax rates will increase from April 2026. For this reason, you should consider how dividends interact with your other income...
by Pi Accountancy | Mar 10, 2026 | Frequently Asked Questions, HMRC, Taxes
Tax Investigation Insurance is a specific type of cover that protects you from the professional fees you will incur if HMRC investigates your tax affairs. These tax investigations can come from irregularities in your tax returns or entirely at random. The insurance...
by Pi Accountancy | Mar 10, 2026 | Frequently Asked Questions, HMRC, Taxes
An HMRC Tax Investigation, also known as a compliance check, is an official review of an individual’s or business’s tax records. HMRC wants to confirm that they are calculating and paying their taxes correctly. These investigations therefore allow HMRC to...
by Pi Accountancy | Feb 24, 2026 | Advisory and Resources, Business, Corporation Tax, Regulations and Schemes, Taxes
Most limited companies pay Corporation Tax 9 months and 1 day after their year end. However, larger companies must pay their Corporation Tax in quarterly instalments during the accounting period itself. HMRC refers to this system as Quarterly Instalment Payments...
by Pi Accountancy | Feb 19, 2026 | Advisory and Resources, Company Car, Self-Employment and SMEs
While running your business, you may drive to client meetings, carry tools, transport stock or collect supplies. Because of this, vehicle expenses can take up a large part of your business budget. The good news is that you can claim many of these costs and lower your...
by Pi Accountancy | Feb 17, 2026 | Advisory and Resources, Business
Not every cost fits neatly into headings such as rent or wages. Some payments arise unexpectedly and do not justify their own category. These are Sundry Expenses. Although each cost may seem minor, they can build up over the course of a year. Therefore, you must...
by Pi Accountancy | Feb 4, 2026 | Advisory and Resources, Companies House, Director, Regulations and Schemes, Self-Employment and SMEs
Authorised Corporate Service Providers (ACSPs) will play an important role in how businesses continue to interact with Companies House. They will help confirm identities and protect the public register from misuse. Over time, most third-party agents will also need to...
by Pi Accountancy | Feb 2, 2026 | Advisory and Resources, Regulations and Schemes, Self-Employment and SMEs
Money laundering is the process of disguising illegally obtained earnings to make them appear legitimate. In the UK, Anti-Money Laundering (AML) Regulations are in place to detect, prevent and prosecute these activities. This is a global issue which undermines the...
