The long-standing question of whether to take income as a salary, dividends, or a mix of both has become more complex with recent tax changes introduced for the 2025–26 financial year. The changes announced in the Autumn Budget has now changed the mix a bit. So, what’s the best way to pay yourself as a […]
Author Archives: Priya Raja-Motala
03
Jun
Jun
If you’re an employee in the UK and you’ve paid out-of-pocket for certain work-related expenses, you might be entitled to claim Income Tax relief from HM Revenue & Customs (HMRC). Many employees are unaware that they could be missing out on valuable tax refunds simply because they haven’t submitted a claim. So, let’s look at […]
Corporation Tax, Employee Benefits, P11d, Tax Planning, Tax Tips, Uncategorized
Leasing v. Hire Purchase
28
May
May
Many businesses use vehicles, and as you begin to explore your options, two terms frequently arise: leasing and hire purchase. While they may sound similar, there are key differences between them, particularly regarding ownership, costs, and flexibility. So let’s explore the question Lease v. Hire Purchase. Leasing Leasing a car is similar to renting, but […]
capital gains tax, self employed, Tax Advice, Tax Planning, Tax Tips
Is it time to bring forward your exit plan?
21
May
May
Are you a shareholder in a small business? Do you have plans to sell or transfer your business? Is it time to bring forward your exit plan? Starting next tax year, small business owners and those eligible for Business Asset Disposal Relief (BADR) will experience increased tax rates. In fact, an increase already happened in […]
14
May
May
Over the past few years, many business owners have faced a series of challenges, including global pandemics, war, high inflation, supply chain disruptions, and recently threats of tariffs. Additionally, the rapid and sometimes unsettling rise of technologies like artificial intelligence adds to the mix. These issues are not just headlines; they are real experiences that […]
30
Apr
Apr
Directors loan account, what is it? A director’s loan account (DLA) records transactions between the director and the company. It is a record of either money lent to the company or borrowed from the company. The tax treatment of these transactions depends on whether you have lent money to the company or are borrowing from […]
23
Apr
Apr
It’s easy for small businesses to overlook the implications of Making Tax Digital (MTD), especially since it has been delayed a few times over recent years. However, we can confirm that MTD is coming, and the countdown has already begun! Staying informed about these changes can be challenging, but we are here to support you […]
16
Apr
Apr
Tax often receives a negative perception, but it shouldn’t. It’s about understanding the tax rules and systems and using them to your best advantage. So, what do mean by tax planning? Business Tax Planning Effective tax planning is important for your business if you are aiming to maximise profits, ensure compliance, and prepare for sustainable […]
08
Apr
Apr
If you’ve been hiking in the wilderness or simply taking some time out from the news, you may have missed that we are currently experiencing challenging trade wars. Otherwise, you will all know that the USA has imposed trade tariffs on most countries worldwide, including ours. This has contributed to the fact that the economic […]
02
Apr
Apr
As you know the UK tax year runs from April 6th to April 5th. A system that has been in place for centuries. This peculiar timeframe often puzzles people, but it is more a long-standing tradition than a mistake. This quirky tradition dates to 1582. Before that, the UK operated on the Julian calendar, which […]