by Pi Accountancy | Oct 16, 2025 | Business
A Certificate of Incorporation is one of the most important legal documents a business can possess. If you are setting up a limited company, you will receive this document as confirmation that your company officially exists and is recognisable by law. Upon...
by Pi Accountancy | Oct 14, 2025 | Advisory and Resources, Business, Companies House, Regulations and Schemes
Verifying your identity has never been more important. Whether you are setting up a company or becoming a director, you must prove who you are. Proof of Identity checks protect everyone involved and keep businesses compliant with legal requirements. Identity...
by Pi Accountancy | Oct 1, 2025 | Advisory and Resources, Business, Corporation Tax, Regulations and Schemes, Taxes
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...
by Pi Accountancy | Aug 6, 2025 | Business, Companies House
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...
by Pi Accountancy | Jul 16, 2025 | Advisory and Resources, Business
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...
by Pi Accountancy | Jul 15, 2025 | Advisory and Resources, Business
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...
by Pi Accountancy | Jun 25, 2025 | Business
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...
by Pi Accountancy | Jun 24, 2025 | Business
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...
by Pi Accountancy | Jun 11, 2025 | Business
From April 2023, the rules around Corporation Tax in the UK changed. One of the biggest changes was the return of tax bands based on profit levels. However, if your company has associated companies, those profit thresholds reduce. As a result, more businesses may find...
by Pi Accountancy | Jun 5, 2025 | Business
Every business relies on equipment, tools or property to some degree. Some of these assets are short-term expenses, while others serve a long-term purpose. These long term assets, known as Capital Assets, help with business growth and financial planning. What are...
by Pi Accountancy | Apr 24, 2025 | Business
In simple terms, “Plant and Machinery” refer to the essential tools, equipment and systems that a business needs to keep running smoothly. These assets are not just helpful for daily operations, they also offer businesses the opportunity to claim tax...
by Pi Accountancy | Feb 27, 2025 | Business
From April 2025, changes to company size classifications will make financial reporting simpler for thousands of businesses. The Companies (Accounts and Reports) (Amendment and Transitional Provision) Regulations 2024 updates the the turnover and Balance Sheet limits...
by Pi Accountancy | Feb 4, 2025 | Advisory and Resources, Business, Frequently Asked Questions, Taxes
If you run a business, the “Wholly and Exclusively” rule determines whether you can deduct an expense from your taxable profits. To qualify for tax relief, you must incur the expense Wholly and Exclusively for the purposes of your trade. In practical...
by Pi Accountancy | Dec 17, 2024 | Advisory and Resources, Business, Payroll and Employment
Christmas brings a fast and intense rise in demand for many businesses. As a result, many employers hire temporary Christmas staff to keep operations running smoothly. These short-term workers help manage extra tasks and maintain strong customer service when it...
by Pi Accountancy | Oct 31, 2024 | Advisory and Resources, Business, Regulations and Schemes
When you sell or close your business, the profits you make may be subject to Capital Gains Tax (CGT). This tax can significantly reduce your final earnings. Business Asset Disposal Relief (BADR) helps lower that burden by allowing eligible business owners to pay a...
by Pi Accountancy | Oct 29, 2024 | Advisory and Resources, Business, Self-Employment and SMEs
Deferred Income is money a business receives before they deliver goods or services. This happens when a customer pays upfront, but the business still owes them something. Because of this, the payment does not count as earned income immediately. Instead, accountants...
by Pi Accountancy | Oct 23, 2024 | Advisory and Resources, Business, Frequently Asked Questions, Software
A Trial Balance is a financial report that lists all account balances from the general ledger. Businesses usually prepare this report at the end of an accounting period. This may happen monthly, quarterly or annually. The report helps confirm that the double-entry...
by Pi Accountancy | Sep 17, 2024 | Advisory and Resources, Business, Frequently Asked Questions, Taxes
Capital Gains Tax (CGT) applies when you make a profit after you sell or dispose of an asset. However, CGT only applies to the gain, not the total amount you receive. For example: You buy a painting for £5,000. Later you sell it for £25,000. You have made a £20,000...
by Pi Accountancy | Aug 28, 2024 | Advisory and Resources, Business, Frequently Asked Questions
A Cash Flow Statement shows how money moves in and out of your business over a set period. This highlights where your cash comes from and how you spend it. As a result, you gain a real-time view of your financial activity. Unlike other reports, such as a Balance Sheet...
by Pi Accountancy | Aug 27, 2024 | Advisory and Resources, Business, Frequently Asked Questions, Regulations and Schemes, Software
A Balance Sheet is a financial statement that lists a company’s assets, liabilities and equity. It shows the financial position of a business on a specific date. Most businesses prepare balance sheets monthly, quarterly or annually. A Balance Sheet forms one of...
by Pi Accountancy | Jul 25, 2024 | Business
The Cycle to Work Scheme is a government-backed initiative that helps employees save money on bicycles and cycling gear. It aims to promote healthier and more sustainable commuting habits while reducing traffic congestion and air pollution. Since its introduction in...
by Pi Accountancy | Jul 4, 2024 | Business
Holiday Accrual on SSP When employees are unable to work due to sickness, they may be eligible for Statutory Sick Pay (SSP), currently set at £116.75 per week for up to 28 weeks in the UK. During these periods, employees still accrue Holiday or Annual Leave. Employees...
by Pi Accountancy | Jun 6, 2024 | Advisory and Resources, Business, Director
Dividends affect how many business owners take income and how investors earn returns. They offer a simple and flexible way to share profits, and they often provide tax advantages when used well. What are Dividends? Dividends are payments that a limited company makes...
by Pi Accountancy | May 8, 2024 | Advisory and Resources, Business, Regulations and Schemes, VAT
VAT Road Fuel Scale Charges affect many businesses that use vehicles for both work and personal journeys. With updated rates in May 2025, it is important to understand how the rules work and how the charges may impact your VAT position. What are VAT Road Fuel Scale...
