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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Transerring Property
When you transfer property which in not your residential home into a company this must be done right as this has huge tax implications if not done correctly. There is a way to get this into a company avoiding stamp duty but this only applicable to those who run this as a partnership. By a…
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Tax Return Late filing Penalties
Tax Return If you been sent a notice to complete a self-assessment income tax return you have until 31 January every year to get this submitted to HM Revenue & Customs or you will incur late filing penalties depending how long this is outstanding for. Late Filing Penalties Up to 3 Months £100.00 if it…
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Student Loan
Do You Have a Student Loan? Do you have a student loan, if so are you repaying this, and do you know that this to be declared on your tax return? Repaying Student Loan There are different ways to repay this it can be either: Tax Return If you have a tax return to complete…
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July Tax Payment
By now anyone who must make a payment on account towards their January 2026 tax liability should have paid this by 31 July 2025. This is meant for anyone who must complete a tax return and most of their income is not taxed at source e.g. self-employed, employed and self-employed. What Happens if I Don’t…
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