Back to Blog

Local Accountants vs National Firms – What Staffordshire Businesses Need to Know

Choosing the right accountant is a key decision for any business, whether you're a sole trader just starting out or a limited company looking to scale. One of the biggest choices you'll face is whether to work with a local accountant in Staffordshire or partner with a national accountancy firm.In this blog, we’ll break down the key differences, pros and cons of each option and help you decide what’s right for your business....

Partnership vs Limited Company UK (2025 Guide): Tax, Liability & Setup

When starting or restructuring a business in the UK, one of the most critical decisions you will make is choosing the right business structure. The two most common options are partnerships and limited companies, each with its own set of benefits, tax implications, and legal differences.This 2025 guide explains the key differences to help you make the best choice for your business....

How Accountants in the UK Can Assist with Payroll Processing and Compliance

Many businesses struggle with payroll processing and compliance, which is where professional accountants can play a crucial role. Accountants in the UK can assist with payroll by ensuring that your business meets its obligations while streamlining the entire process. With complex tax laws and ever-changing regulations, having the right team behind you can save both time and money.Outsourcing payroll services to accountants in the UK can significantly streamline your business operations and ensur...

When is self assessment tax paid?

If you're self-employed or have income that isn't taxed at source, understanding when to pay your self-assessment tax is essential to avoid surprises and penalties. The UK tax system operates on a schedule of payments called the balancing payment and two payments on account, which can be confusing if you're new to it. In this guide, we break down exactly when you need to pay your self-assessment tax and how the system works, with a clear example to make it easier to follow....

What are the Changes to Minimum Wages and Employers' National Insurance for 2025/2026

With the new tax year approaching, employers and business owners must stay informed about upcoming changes to minimum wages and employers' National Insurance. These updates can have a significant financial impact on businesses of all sizes. In this article, we will break down the key changes set to take effect from April 6, 2025, and explore how they may affect employers and employees....

Why You Need a Tax Advisor in Staffordshire

Managing your taxes effectively can be a complex and daunting task. Whether you're an individual looking to optimise your tax return, a small business owner navigating ever-changing tax laws, or a high-net-worth individual seeking to maximise your wealth, professional tax advice is essential. If you're based in Staffordshire, hiring a qualified tax advisor can provide invaluable assistance in ensuring that you comply with tax regulations while also securing the best financial outcomes....

Planning the Perfect Staff Christmas Party: Budgeting and Beyond

The holiday season is fast approaching, and with it comes the opportunity to celebrate with colleagues at the annual staff Christmas party. Whether your company is large or small, organising a memorable event requires careful planning, especially when it comes to budgeting. ...

The Essential Guide to Accountants in London: Finding the Right Fit for Your Needs

London, a bustling hub of finance and business, is home to an impressive array of accountants catering to various needs. Whether you're a small business owner, a freelancer, or an individual looking for personal tax advice, choosing the right accountant in London can make all the difference. In this guide, we’ll explore the key types of accountants available, including traditional and online options, to help you make an informed decision.Related Article: The Importance of Cash Flow Manage...

Why do People Have to Make Payments on Account for Tax?

Navigating the world of taxes can be a complex and sometimes daunting task, especially when it comes to understanding the various requirements and deadlines involved. One aspect that often causes confusion is the need for payments on account.If you're self-employed, run a business, or have other income not taxed at source, you've likely encountered this term. But why do people have to make payments on account for tax?Related Article: Simplifying Payroll: Best Practices for Small Business Ow...

Simplifying Payroll: Best Practices for Small Business Owners

Running a small business involves numerous responsibilities, and one crucial aspect is managing payroll. While payroll can be complex and time-consuming, implementing efficient practices can simplify the process significantly.In this blog post, we will explore the best practices that small business owners can adopt to streamline their payroll operations.By following these guidelines, you can ensure accuracy, compliance with regulations, and overall efficiency in managing your employees' compe...

The Importance of Cash Flow Management: Tips for Small Businesses

Cash flow management involves keeping a close eye on the money entering your business and comparing it against outgoing expenses like salaries, rent, and supplier payments. Done effectively, it provides a clear view of your income versus costs, ensuring you can cover your obligations while still generating a profit.Understanding and effectively managing your cash flow can spell the difference between sustained growth and financial turmoil. The importance of cash flow management cannot be oversta...

How to Choose the Right Accountant

Once you've decided to hire an accountant, the next step is finding the right one for your business. This isn’t a decision to rush; your accountant will play a vital role in managing your finances, so it’s worth taking the time to choose carefully.Think about practical considerations like their location, how tasks will be divided, and whether they’re comfortable using your preferred accounting software. You'll also want to consider their fees and whether they can help reduce your tax liabi...

How can accountants help with VAT compliance in the UK?

In the intricate world of taxation, Value Added Tax (VAT) stands out as a pivotal component, and businesses operating in the UK are no strangers to its complexities. Navigating the VAT landscape requires a keen understanding of regulations, meticulous record-keeping, and a commitment to compliance....

What was announced at the Budget Summary March 2024?

The Budget Summary for March 2024 stands as a pivotal moment, revealing the latest measures and initiatives set forth by policymakers to navigate the challenges and opportunities ahead. From taxation adjustments to investment strategies, this summary encapsulates the government's vision for economic resilience and growth.From key announcements to their potential impact on businesses and individuals alike, this comprehensive overview aims to shed light on the policies shaping our financial future...

Company Car Tax for Directors (2025 Update)

Thinking of taking a company car as a director? The tax can be higher than you expect—but with the right setup, you could save thousands. Here’s how the rules really work in 2025....

What was announced in the AUTUMN STATEMENT – 22 NOVEMBER 2023?

Significant points• Cuts to employee NICs take effect from 6 January 2024 and self-employed NICs from 6 April 2024• 100% first year allowances (‘full expensing’) for companies made ‘permanent’ (originally due to expire 31 March 2026)• Extension of the ‘cash basis’ of computing taxable profits for unincorporated businesses • No changes announced to Income Tax, Inheritance Tax or Stamp Duty Land Tax – all remain fixed at levels previously announced...

Can I take money out of my sole trader bank account without paying further tax?

As a sole trader, you're not just the captain of your ship; you're also the navigator of your financial course. While the freedom and flexibility of being a sole trader can be exhilarating, it also comes with a host of responsibilities, including managing your finances and understanding the tax implications of your decisions.One question that often looms large in the minds of sole traders is, "Can I take money out of my sole trader bank account without incurring further taxes?”So, let's set sa...

Can my limited company pay for gym membership for Directors & staff?

In the modern corporate landscape, employee well-being has taken centre stage as a pivotal factor in driving productivity, engagement, and overall success. As companies seek innovative ways to support their team's physical and mental health, the question arises: Can your limited company cover gym memberships for directors and staff? Providing a benefit in kind to Directors or staff is a great way to make them feel valued and appreciated.  A limited company can provide a benefit in...

Can I purchase an electric vehicle through my Limited Company?

In the era of sustainability and innovation, electric vehicles (EVs) have taken the automotive industry by storm. As individuals and businesses alike strive to reduce their carbon footprint and embrace cutting-edge technology. Whether you're a small startup or an established enterprise, understanding the intricacies of acquiring an EV under your company's name can bring forth financial, environmental, and operational advantages. A limited company can purchase an electric vehicle. ...

Tax Free allowances for 06/04/2023 to 05/04/2024

Taxes are an inevitable part of our financial landscape, but did you know that there are legitimate ways to reduce your tax liability? Enter the realm of tax-free allowances, where you can uncover opportunities to save your hard-earned money within the bounds of the law. In this blog post, we'll take a deep dive into the world of tax-free allowances, from personal allowances to income tax bands, let's explore the smart path to keeping more of your money in your pocket.The below are the...

What help is available to households, due to increased living costs for 2022?

With the ever-increasing cost of living in 2022, on 26/5/2022 the Chancellor announced grants for all households, to help with the increasing costs of heating homes.  There will be different levels of help categorised as: Low-income householdsPensioner householdsDisability householdsAll households ...

Tax Rates & Minimum Wage for 2022/2023

Minimum wage for 2022/2023 is dependent on the employees age: Age                     Rates from April 2022 23 and over          £9.50 21 to 22                £9.18 18 to 20                £6.83 Under 18          &nbs...

How do I add sales to Quickbooks if the customer has already paid me?

A sales invoice is the document you raise in bookkeeping when you are asking a client to pay you for your goods or services.  Normally the sales invoice is raised and sent to your client, then your client pays you, and then you can mark the sales invoice as payment received.  In some circumstances your customer might know your fee in advance and send the money to you before you have raised the sales invoice.  In this case you can raise a sales receipt.  A sales receipt is the...

Changes to NI & Tax to cover Health and Social Care

From April 2022: The Prime Minister announced on 07/09/2021 there will be an increase in tax from April 2022 to cover the shortfall in funding for the NHS due to the pandemic, and to cover social care funding.  As of April 2022, the extra tax will be as follows: 1.25% tax increase on employees national insurance1.25% tax increase on employers national insurance1.25% tax increase on class 4 self-employed national insurance1.25% increase on dividend tax For April 2022 to March 2023 working pe...

What are the penalties for filing tax returns late?

Individual tax returns                     due by 31st January.Partnership tax returns                  due by 31st January.CT600 Corporation tax returns      due 9 months and 1 day after the companies’ year end....