Business plans provide goals to work towards, help identify potential problems, give insight into competitors, and highlight potential opportunities. A great business plan should include… Read More »What you should include in a business plan

Small business owners need to take measures to avoid costly mistakes when it comes to calculating, reporting and paying Value Added Tax (VAT). The best… Read More »Avoid these costly VAT mistakes

The Government has announced a two-year delay and further changes to the rollout of its Making Tax Digital for Income Tax initiative. The delayed implementation… Read More »Implementation of MTD for ITSA delayed for two years

Businesses are being advised that time is running out to be able to take advantage of the Corporation Tax super-deduction capital allowance scheme. This allows… Read More »Take advantage of the super deduction allowance – before it’s gone

Every business needs sound financial planning and oversight in order to thrive. With the new tax year just around the corner, now is the perfect… Read More »Improving your business finances in 2023 and beyond

For many individuals in the UK, gifting to grandchildren can be a great way to reduce their tax burden. But before entering into any gifting… Read More »Tax considerations for gifting to grandchildren in the UK

If you own a small business and are also a shareholder director, you may be wondering whether to take a salary or dividends. When it… Read More »Should I take a salary or dividends as a small business owner?

Keeping on top of your business’s financial health is critical to its success. A great place to start is by understanding what a balance sheet… Read More »Understanding and improving your balance sheet

A major overhaul of VAT penalties came into effect on 1 January 2023. This new approach changes how penalties are applied, as well as how… Read More »A new VAT penalty system is now in effect