July Tax Payment on Account
July Tax Liability 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…
Read More
Letterheads
Trading Address If you have two addresses that you use for business one where the business activities take place e.g. workshop, office then this should to be at the top so it is clear should they need to visit or write to you. Registered Office Address The registered office address is for limited companies only…
Read More
Tax Update
Side-hustle reporting threshold increased The Government has announced plans to increase the threshold above which income from self-employment must be reported via self assessment. Currently, if you earn over £1,000 from self-employment, or a so-called ‘side hustle’ such as babysitting or dog walking, you need to report this income to HMRC by filing a self…
Read More
Cloud Accounting and Bookkeeping
Overview There is now the opportunity to have you cloud accounting software which means you no longer need to have this installed on your desktop you can access this via an internet connection from anywhere. This will avoid the upgrades like with Sage as you will always have the latest version of the software. Moving…
Read More
Sole Trader or Limited Company
Sole Trader V Limited Company A question I often get asked is which way should I go Sole Trader/Partnership V Limited company and there is no right and wrong answer. Both sole trader and partnerships are unincorporated, so the business information is not held in the public domain. Limited companies have the business information on…
Read More