Imagine this: you’ve just launched a major project or a new line in your business. The plans you’ve worked on for a while have been communicated effectively and received well. The messaging is clear, and the team is energised. But then, the unexpected occurs. The market wobbles, a key client pauses their budget, and some […]
Category Archives: self employed
06
Oct
Oct
The countdown to Making Tax Digital (‘MTD’) has begun. We are now just over six months from April 2026, when the first group of individuals will be required to comply with MTD. You may recall that we published a blog in April 2025 to help and inform you on this topic. You can revisit this […]
self employed, Tax Tips, VAT, VAT Compliance, VAT Return
Should Your Small Business Voluntarily Register for VAT?
17
Sep
Sep
If you run a small business in the UK, you’ve probably heard about the VAT registration threshold. Currently, if your taxable turnover reaches £90,000, you must register for VAT. But what if you’re under that figure? Should you voluntarily register for VAT? This is a common question for freelancers, sole traders, and small limited companies. […]
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 […]
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 […]
27
Mar
Mar
The Labour government has reiterated its commitment to ensuring security, increasing disposable income, and improving living standards for working people. So, what does the Spring Statement mean for you? You are business owner It is crucial to note the significant changes that will take effect from 6 April 2025 regarding both the national minimum wage […]
HM Revenue & Customs, Personal Tax, self employed, Tax Advice, Tax Planning, Tax Tips
Year-end tax planning
15
Jan
Jan
The end of the tax year is fast approaching, making it an ideal time to remind everyone about important steps for year-end tax planning. Before we proceed, let’s take a moment to review the changes that will be happening in the next couple of years. During the last Budget, a few changes were announced that […]
11
Dec
Dec
As this year comes to a close, it’s the perfect time to reflect on what 2024 has meant for you and to set your sights on what you want to achieve in the coming year. As your accountant, we are serious about you and your ambitions. We love working with and alongside you to ensure […]
self employed, Tax Planning, Tax Tips, VAT
Can you avoid VAT Registration by conducting business through two entities?
04
Sep
Sep
In the Spring 2024 Budget, the previous government raised the VAT threshold from £85,000 to £90,000, having frozen it at £85,000 for six years. This means a business must register for VAT if its taxable sales have exceeded £90,000 in any rolling twelve-month period. Furthermore, you must register if the sales will exceed £90,000 in […]
HM Revenue & Customs, Myers Clark Updates, Personal Tax, self employed
Don’t forget to use Time to Pay service with HMRC
17
Jul
Jul
Benjamin Franklin once said, “In this world, nothing can be said to be certain, except death and taxes.” If you are in business, a landlord, or paying tax under self-assessment, you understand the importance of paying your tax on time. But what if you can’t afford to pay your taxes when they are due? Remember […]
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