Shareholders Agreements and Why They Are Important
The importance of a shareholders agreement For limited companies, when it comes to making decisions, Company Law states shareholders who own more than 50% can pass a motion at a company meeting regardless of the views of other shareholders and if a shareholder(s) owns 75% or more of the shares they, control the company outright…
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How high could interest rates rise?
Earlier this month the Bank of England (BOE) raised interest rates for a 12th consecutive time as the rate of rising prices remains high. The Bank rate has gone up from 4.25% to 4.5%. The BOE has been under pressure to put rates up because it has a target to keep inflation at 2%, but…
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High Income Benefit Charge Catching You Out?
Mistakes made when claiming higher rate child benefit are most frequently the result of poor communication from HMRC and it is more difficult for those with complex, fluctuating earnings The high income child benefit charge (HICBC) raised £416m in 2019-20 but it is a hard tax charge to administer as many of the families affected…
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Virtual Christmas Party
Due to the coronavirus restrictions, you may be unable to host your usual Christmas Party for your employees. We are pleased to confirm that the annual parties’ exemption (s264 ITEPA03) will apply to the costs associated with virtual parties in the same way that it would for traditionally held parties. Therefore, subject to the normal…
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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…
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Gifts
🎁 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…
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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…
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Payroll
Managing payroll in the UK is more than just paying employees—it’s 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…
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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…
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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:…
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What Is a Director’s Loan Account (And Why Does It Matter)?
Director’s 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, it’s important to understand how DLAs work—and the tax rules…
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Do I Need a Bookkeeper, an Accountant, or Both?
If you run a business, chances are you’ve heard the terms bookkeeper and accountant thrown around—but do you really need both? And what’s the difference anyway? Whether you’re 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…
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Xero vs Sage: Which One’s 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. There’s no one-size-fits-all solution—what works brilliantly for one business might not suit another. At Cubic, we support Xero and Sage clients in Bracknell and across the UK, and I’ve worked with both across different…
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VAT Value Added Tax (VAT)
VAT is a tax on sales and has nothing to do with profit. The current registration limit is £90,000 so once your sales reach £90,000 in any 12-rolling period you must register for VAT immediately. This can be done by downloading the form from HM Revenue & Customs website or completing the form online which…
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