Time to Pay Your Tax
Paying Your Tax The tax return deadline approaching there will be some people among us that need to settle our tax liabilities by 31 January annually. This comes at a time when some people will have cashflow problems as this is just after Christmas when the credit card bill have arrived and most of us…
Read More
Construction Industry Scheme Hints and Tips
Registering for Construction Industry Scheme When you register for the scheme, it will come with registering for a PAYE (pay as you earn) scheme with HM Revenue & Customs. You must submit a return even if you do not pay anyone working for you for the month known as a nil return. If you are…
Read More
Gifts
đ 1. Gifts to Clients, Customers, Suppliers As we approach Christmas time there are particular rules around gifts and the tax rules assiocated with them General rule:These are classed as “business entertainment” by HMRC, so costs are non-deductible and no VAT reclaim, unless they meet strict exceptions. [gov.uk], Exceptions (for deductibility and VAT reclaim): If…
Read More
November 2026 Budget
Understanding simple assessments If you owe income tax that cannot be collected automatically via PAYE, such as tax on bank interest or the state pension, HMRC may send you a simple assessment notice This letter shows how much tax HMRC believe you owe based on information they hold. It is important to check the figures…
Read More
Payroll
Managing payroll in the UK is more than just paying employeesâitâs about staying compliant with evolving regulations, maintaining accurate records, and ensuring your team is paid correctly and on time. Whether you’re a small business owner or part of a larger organisation, understanding the payroll landscape in 2025 is essential. What Is Payroll? Payroll is…
Read More
10 VAT Questions
Should I be VAT Registered Navigating VAT (Value Added Tax) registration can be confusing for small business owners, freelancers, and startups. Here’s what you need to know to decide whether you should register. You must register for VAT with HMRC if: This threshold applies to standard-rated, reduced-rated, and zero-rated goods and services. It excludes VAT-exempt…
Read More
Autumn Tax
Advisory fuel rates If you reimburse fuel or charging costs for employees using a company car for business travel there will be no taxable profit and no Class 1A national insurance, provided the mileage amount paid does not exceed the advisory rates From 1 September 2025 the advisory rates per mile for non-electric vehicles are:…
Read More
What Is a Directorâs Loan Account (And Why Does It Matter)?
Directorâs Loan Accounts (DLAs) can be a helpful financial tool for small business owners, but they can also cause unexpected tax problems if not managed correctly. Whether you’re lending money to your company, withdrawing funds for personal use, or just trying to keep everything straight, itâs important to understand how DLAs workâand the tax rules…
Read More
Do I Need a Bookkeeper, an Accountant, or Both?
If you run a business, chances are youâve heard the terms bookkeeper and accountant thrown aroundâbut do you really need both? And whatâs the difference anyway? Whether youâre a sole trader, landlord, or small business owner in Bracknell, understanding the distinction between these two roles can help you stay compliant, save time, and make smarter…
Read More
Xero vs Sage: Which Oneâs Right for Your Business?
Choosing the right cloud accounting software can save you hours every month and take the stress out of your financial admin. Thereâs no one-size-fits-all solutionâwhat works brilliantly for one business might not suit another. At Cubic, we support Xero and Sage clients in Bracknell and across the UK, and Iâve worked with both across different…
Read More