Why HMRC Is Focusing More on Small Businesses and How to Stay Compliant
If you run a small business in the UK, HMRC is paying closer attention to your tax affairs than ever before. The latest published tax gap figures estimate the shortfall at £46.8 billion for 2023 to 2024. Small businesses account for the largest share by customer group, at 60 percent of the overall tax gap, […]
Small Employers’ Relief: How to Reclaim 109% of Statutory Payments
If one of your employees is going on maternity, paternity, adoption, shared parental, parental bereavement or neonatal care leave, Small Employers’ Relief could mean you get back more from HMRC than you actually paid out in statutory payments. From 6 April 2026, qualifying small employers can recover 109% of eligible statutory payments through their PAYE […]
MTD Penalties Explained: What Happens If You Miss a Digital Tax Deadline?
Missing a Making Tax Digital deadline can cost you money, but the penalty system is more nuanced than many people realise. Under HMRC’s points-based model, a single missed submission deadline will not usually result in an immediate financial fine, but points can build up. Once you hit the relevant threshold, penalties follow. There is also […]
Employer National Insurance in 2026: Why Payroll Costs Still Feel So High
If you employ staff and your payroll costs feel noticeably higher than they did two years ago, you are not imagining it. From April 2025, the rate of employer National Insurance Contributions (NICs) rose from 13.8% to 15%, and the threshold at which you start paying it dropped from £9,100 to £5,000 per year. That […]
Companies House ID Verification: What Directors and PSCs Need to Know in 2026
If you are a company director or a Person with Significant Control (PSC), you are now required to verify your identity with Companies House. This is not optional, and the consequences of not doing it range from civil penalties to your company’s filing record being annotated publicly. If you have not yet completed your verification, […]
Making Tax Digital for Income Tax: What Sole Traders and Landlords Need to Do Now
If your qualifying income from self-employment and/or property is above £50,000, Making Tax Digital for Income Tax (MTD for Income Tax) has applied from 6 April 2026. This is no longer a distant change. If you are in scope, you need to keep digital records, use compatible software and send quarterly updates to HMRC. The […]
Closing Your Company Properly: Strike Off, Liquidation, And Tax Points To Consider
Deciding to close a limited company is rarely simple. Whether you are retiring, moving into a new venture, or winding down after a good run, the way you close the company matters. Get it right and you can settle debts, deal with tax properly and extract remaining funds in the right way. Get it wrong […]
Contractor Accounting Essentials: What To Track From Day 1 To Avoid Tax-Season Stress
Going freelance or contracting can feel liberating, but it also means taking responsibility for admin that an employer may have handled for you before — tax, National Insurance, invoices, records, expenses and deadlines. The good news is that contractor accounting does not need to feel overwhelming. If you put the right habits in place from […]
Payroll For A Growing Team: When To Set It Up And What Employers Often Miss
Taking on your first member of staff is a big moment. It means your business is moving forward, and that is something to be proud of. But with that excitement comes a new set of responsibilities — and payroll is right at the top of the list. Whether you are hiring your first employee or […]
How to Separate Personal and Business Spending Without Creating Bookkeeping Headaches
It’s one of the most common problems accountants see with small business clients, particularly in the early years. Personal and business spending gets mixed together — sometimes out of habit, sometimes out of convenience, and sometimes just because the line between the two genuinely isn’t obvious. A coffee on the way to a client meeting […]