by Pi Accountancy | Jun 3, 2026 | Advisory and Resources, Business, Regulations and Schemes
Trivial benefits are small gifts or perks an employer gives to an employee. They offer a simple and effective way to reward employees. To qualify as a trivial benefit, it must meet all of the following conditions: It costs £50 or less (including VAT) It is not cash or...
by Pi Accountancy | Jun 2, 2026 | Advisory and Resources, Frequently Asked Questions, Regulations and Schemes, Taxes
National Insurance (NI) is a tax on earnings. You pay it when you work and earn above certain limits. It also applies to profits if you run your own business. National Insurance helps you qualify for several state benefits, as your contributions can support: The State...
by Pi Accountancy | Jun 2, 2026 | Advisory and Resources, Regulations and Schemes, Taxes
Small Business Rate Relief helps eligible businesses reduce the amount of Business Rates they pay. These rates work in a similar way to Council Tax, although they apply to commercial properties instead of homes. Most businesses operating from physical premises must...
by Pi Accountancy | May 29, 2026 | Advisory and Resources, Companies House, HMRC, Regulations and Schemes, Taxes
Tax in the UK follows a progressive structure. This means the more you earn, the higher the percentage of tax you pay on the additional income. We have created a breakdown of the most common tax bands, rates and allowances. Your Tax-Free Personal Allowance Your...
by Pi Accountancy | May 28, 2026 | Advisory and Resources, Payroll and Employment, Regulations and Schemes
Statutory Sick Pay, or SSP, provides a basic level of income when illness or injury prevents an employee from working. UK law requires employers pay SSP to eligible employees. This support allows people to focus on recovery. It also helps workplaces reduce the spread...
by Pi Accountancy | May 26, 2026 | Advisory and Resources, CIS, Regulations and Schemes, Self-Employment and SMEs
The Construction Industry Scheme (CIS) is a tax scheme that applies to most construction work. Under CIS, contractors deduct tax from payments they make to their subcontractors. The contractor then reports these deductions and pays them to HMRC each month. These...
by Pi Accountancy | May 26, 2026 | Advisory and Resources, CIS, Regulations and Schemes, Self-Employment and SMEs
The Construction Industry Scheme (CIS) is a tax scheme that applies to most construction work. For contractors under CIS, they must deduct tax from subcontractor payments and then pay the deductions to HMRC each month. These deductions act as advance payments towards...
by Pi Accountancy | May 22, 2026 | Advisory and Resources, Regulations and Schemes, Taxes, VAT
Families across the UK could enjoy cheaper days out this summer following a temporary VAT reduction. The government will reduce VAT from 20% to 5% on selected family activities and children’s meals between 1 July 2026 and 31 August 2026. This announcement forms...
by Pi Accountancy | May 21, 2026 | Advisory and Resources, Frequently Asked Questions, Payroll and Employment, Regulations and Schemes
A P11D reports Benefits In Kind and certain expenses provided to employees or directors during the tax year. HMRC treats many of these benefits as taxable income, so employers must report them carefully. The submitted information allows HMRC to calculate how much tax...
by Pi Accountancy | May 19, 2026 | Advisory and Resources, Payroll and Employment, Pension, Regulations and Schemes
Auto-Enrolment is a pension initiative that began in October 2012. It aims to help more people build savings for retirement. Previously, many workers needs to opt in to a pension scheme. As a result, many missed out. Now, eligible workers join automatically....
by Pi Accountancy | May 15, 2026 | Advisory and Resources, Payroll and Employment, Regulations and Schemes, Self-Employment and SMEs
IR35 is the common name for off-payroll working rules. The rules mainly target situations where a worker provides services through an intermediary. This intermediary often takes the form of a limited company. However, the legislation can also apply when services pass...
by Pi Accountancy | May 13, 2026 | Advisory and Resources, Business, Frequently Asked Questions, Regulations and Schemes
Management Accounts are internal financial reports which help business owners and senior managers monitor performance. They contain detailed financial information as well as commentary and analysis. Businesses usually prepare them either monthly or quarterly. Unlike...
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 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 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 | 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 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 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...
by Pi Accountancy | Jan 28, 2026 | Companies House
From 1 February 2026, there will be a fee increase for many Companies House services, as well as some decreases and new fees. Companies House review their fees every year to reflect the cost of delivering their services. Companies House Fee Increase (By Category)...
by Pi Accountancy | Jan 7, 2026 | Companies House, Director, Regulations and Schemes
From 18 November 2025, Companies House introduced mandatory identity verification for company directors and People with Significant Control (PSCs). This forms part of the Economic Crime and Corporate Transparency Act (ECCTA) and aims to improve transparency while...
by Pi Accountancy | Dec 19, 2025 | Advisory and Resources, Business, HMRC, Regulations and Schemes, VAT
VAT on hot food often causes confusion for businesses and customers alike. One of the most high-profile and closely watched VAT disputes involved Morrisons and its rotisserie chickens. After a lengthy legal battle, the First-Tier Tax Tribunal have ruled against...
