With Making Tax Digital (MTD) for Income Tax coming into play for many sole traders, new research suggests it’s having an effect not just on accounting. In fact some businesses are considering whether it’s sensible to restructure to better manage the changes. A recent survey by Taxfix found that almost one in four sole traders […]
If you’re a small business owner running a limited company, one of the key steps you’re likely to consider is how to pay yourself in the most tax-efficient way. Typically directors can choose between taking a salary, dividends, or a combination of both. There is no single, right answer – as ever the best approach […]
Payroll is in the spotlight again with new legislative changes affecting employers. From Statutory Sick Pay reforms and new student loan repayment plans to upcoming changes in the reporting of employee benefits, it’s vital to check that payroll processes are fit for purpose. Payroll is often viewed as an admin function. Yet it plays a […]
If your employees travel between different sites, work on client premises, split their time between offices, or regularly work from temporary locations, it’s important to understand how HMRC treats travel expenses and benefits. Many SME owners assume that any work-related travel can be reimbursed tax-free. As ever, the rules are more complex. The distinction between […]
With a larger range of electric vehicles now available, more businesses are considering whether to change to electric company cars or vans. So with some major tax advantages still available, is it worth switching to electric? For directors using a company car, electric vehicles (EVs) are often the most tax-efficient option. They also have some […]
With a New Year upon us, it’s a good time to take stock and consider what key trends might help shape small business success in 2026. As interest rates and inflation stabilise, but economic growth looks more uncertain, it’s likely that operational efficiencies will be the key to success this year. So as a business […]
One of the fastest growing areas of tax evasion is VAT fraud. This involves individuals illegally avoiding or evading Value Added Tax (VAT), usually by not paying VAT owed, claiming VAT refunds or collecting VAT from customers but not submitting it. One area where tax evasion is growing is among small businesses, and a significant […]
From 1 February 2026, Companies House will be changing its fees in the first major update since the Economic Crime and Corporate Transparency (ECCT) Act came into force. While the increases are being introduced to support transparency and enforcement, the increased fees will mean a rise in running costs for many small business owners. What […]
Holding shares in a company can amount to a sizeable asset, especially when you’re planning what will happen to your estate after you die. Depending on the way the business is structured will impact on how your assets are handled so it’s sensible to consider what you might need to do for inheritance purposes. Generally […]
Statutory Maternity Pay (SMP) is the minimum amount which can be paid to those taking maternity leave. All employees who are eligible can take up to 52 weeks maternity leave, split into 26 weeks Ordinary Maternity Leave and 26 weeks Additional Maternity Leave. SMP is payable for up to 39 weeks of that leave and […]
A business loan can be a useful tool for SMEs, offering access to capital which can help with growth, stability and resilience. Loans can facilitate investment in new locations, staff or equipment, as well as helping smooth cash flow and build business credit. When managed well, interest on a business loan can be more affordable […]
In a bid to help boost the economy the Government has revealed details of its Small Business Plan. The consultation, which aims to back SMEs and support growth, has been designed to help deliver £320 billion into the UK economy by 2030. So what’s been announced, and how will the plans support SMEs? Employer National […]