Tax Planning Before April 2026: What Directors Should Review Now
Contents Introduction As the 2025/26 tax year approaches its end on 5 April 2026, company directors should review their tax position before key allowances reset. For owner-managed businesses, tax planning is not about one single decision. Salary, dividends, pension contributions and company expenditure all interact. The combined effect determines both personal tax exposure and corporation […]
Budget 2025: What It Really Means for Small Business Owners & Directors
If you’re a business owner still reeling from this week’s Budget announcements, you’re not alone. After two difficult budgets in a row, this one may go down as the most business-owner-unfriendly budget we’ve ever seen. But beneath the headlines (and Wednesday’s brief moment of relief for anyone using employer pension contributions), there’s a lot to […]
Are Lunch Expenses Tax Deductible? A Complete Guide to Feeding Your Business
Introduction Getting a discounted lunch with HMRC picking up part of the tab seems irresistible to most business owners, which is why subsistence claims top the list when it comes to the most popular ways to save tax. Whilst there are many genuine reasons you can claim your lunch and other food as a tax […]
Can I Have Two Businesses to Avoid VAT? What You Need to Know
Contents VAT Registration, Splitting Businesses, and Alternatives There are times especially in B2B situation when registering for VAT can be a benefit to a business because if your customers are themselves VAT registered, they will then be able to reclaim anything extra you charge them, and in addition your business will be able to reclaim […]
Pros and Cons of Buying a Car Through a Limited Company
Contents Pros and Cons of Buying a Car Through a Limited Company Buying or leasing a car through a limited company can give you significant tax savings, but it is also the one area in which you could end up paying far more tax if you get the planning wrong. Whilst the benefits can include […]
How to Deal with an Overdrawn Director’s Loan Account
Contents Introduction For many small business owners the first time they hear about a director’s loan account is when they hear the dreaded words from their accountant that they owe their company money because they are overdrawn. This is usually followed by the disbelief that an entity they own like their own company can also […]
A Comprehensive Guide to Accounting for a Limited Company
Contents Introduction Running a limited company comes with specific accounting responsibilities. This guide will cover everything you need to know about Accounting for Limited Company, from year end accounts to tax returns and additional reporting requirements. Learn the basics to stay compliant and healthy. Quick Facts Limited Company Accounting Understanding the basics of accounting is […]
The Ultimate Guide to Tax Deductible Expenses for Limited Companies
Contents How do Tax Deductible Expenses Work? Being able to claim tax relief on expenditure in a business is often the first point of focus for anyone trying to achieve tax efficiency and save money. Saving tax on the profits your company makes means that you will then have more cash to invest in business […]
When does it make sense to open up another limited company vs. operating under a new trading name?
Contents There are many accountants out their rubbing their hands and salivating over the idea of a client setting up another limited company that they can bill them to look after. Unfortunately this means that the advice accountants provide regarding the overall structure of a business or group isn’t always completely independent. This article is […]
How to Use Pool Cars to Save Tax
Contents With the benefit in kind tax system based on CO2 emissions of a vehicle rather than the value of it, you can have a tax bill for the year that is more than the value of the car. For example a car your company bought for £500 could land you with a £10k tax […]
Alphabet Shares: What Are They And How Can They Lower Your Tax Bill?
Contents Alphabet shares can be a great tax planning tool as you can take dividends independently of each other. Flexibility to split income has traditionally been the preserve of Partnerships or Limited Liability Partnerships but these structures have tax and business risk drawbacks. When two people work together they can end up with uneven contributions […]
How to minimise your personal tax bill as a small business owner in the 2024-25 tax year
Contents Want to cut your taxes this year? In this guide we show you how small business owners can cut their tax bills for 2024-25. We get down to business – from exemptions to income planning – so you can save money without the hassle. Key Takeaways Why aren’t expenses as important for saving tax? […]
How to get tax free income by charging your company interest on your director’s loan
Contents Business owners often build up savings over time and can either leave them in bank accounts, use them to buy certain investments or even lend them to their own company. Whatever savings are used for, it’s important to understand how tax and relief works on the interest you earn from them. Remember interest from […]
How Much Are Limited Company Taxes And How Does Corporation Tax Work?
Contents Introduction One of the reasons business owners really struggle with understanding tax for limited companies is because there are so many different ones that can apply. While most people would think about corporation tax on their company profits, the reality is for most business owners there are also employee, employer, VAT and personal taxes […]
Trivial Benefits – How to Give Tax Free Gifts to Employees and Directors
Contents Many small business owners understand that it’s possible to provide employee benefits to their team and themselves as directors, either as part of their remuneration package or as a salary sacrifice whereby the employee takes less pay via salary sacrifice. The tax treatment on these benefits can vary greatly based on the specific type […]