Accounting News And Articles

If you run a UK limited company , chances are you’ve heard your accountant mention s455 tax, often with a warning tone. That’s because s455 tax can be expensive, confusing, and usually comes as a surprise. Let’s break it down in plain English and explain what s455 tax actually is, when it applies, how much it costs, and how to stay on HMRC’s good side What is s455 tax? At its core, s455 tax is HMRC's way of discouraging directors from treating the company like a personal ov

From 6 April 2026 , a major change is coming to the way sole traders report their tax affairs, thanks to Making Tax Digital for Income Tax Self-Assessment (MTD ITSA). Like it or not, spreadsheets will no longer cut it. If you filed your 2024–25 tax return and your turnover (that's your total income before expenses) from self-employment and/or property was more than £50,000 , the rules will apply to you. In other words, you'll be automatically enrolled into Making Tax Digit

Now, we know taxes aren't exactly anyone's favorite topic. However, ignoring them won't make them go away, no matter how hard you try! Our job is to make sure you're prepared for the new tax year and can avoid those 'oh no' moments when HMRC comes knocking. With the next tax year creeping up, here's how we are advising our clients to get ahead. 1. Take a Good Look at Your Cash Flow Think of cash flow as your business’s bloodstream; if it stops, things get messy fast. We advi

It has been over 1 week since the 2025 UK Budget landed, and we have now had a chance to digest it. So, we are here to give you a clear, jargon-free breakdown of what it actually means for your business, your household, and your finances, without making you scroll through endless government PDFs (they are pretty boring). Some of it is good news, some of it requires a bit of planning, and some of it just makes you go, “Really, that’s actually happening?” Here’s the key stuff