companionaccountancyltd

a professional man in a suit looking at a giant calendar with a bell and an alarm clock next to it symbolising the payments on account deadline

Don’t miss the July 2025 payments on account deadline

If you’re self-employed or receive income outside of PAYE, one important date to keep in mind is 31 July 2025. This is the deadline for making your second payment on account towards your 2024/25 tax bill. Understanding payments on account Payments on account are advance payments towards your self-assessment tax bill. HMRC uses them to […]

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animation of a woman sat at her home office desk looking at a laptop while decorators paint the walls and lay the floors behind her - representing claiming home renovations through your business

Home renovations & taxes: Smart business move or risky strategy?

If you’re a contractor or small business owner working from home all or some of the time, you’ve probably looked for ways to maximise your business expenses. One area that often sparks debate is home renovations: can you, or should you, put those costs through your business? On the surface, it might seem like a

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a person's hand dropping animated coins with icons representing different assets in terms of Business Asset Disposal Relief

MVLs & Budget changes to Business Asset Disposal Relief

An overview of Members Voluntary Liquidation (MVL) for Business Asset Disposal Relief (BADR). Written by Louise Barker, Group Marketing Director at Opus Advisory Group – Companion Accountancy’s third-party partner. Once upon a time, Business Asset Disposal Relief (BADR) used to be called Entrepreneurs Relief. It has long been a boon for entrepreneurs selling their businesses.

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The ins and outs of management accounts for small businesses

Financial management is one key area that can make or break your success as a small business owner (see also our blog on cashflow forecasting). While most business owners focus on yearly financial statements for tax purposes, management accounts provide insights into your day-to-day and month-to-month performance. To make management accounts work for you, you’ll

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Protecting your business: essential insurance tips

As a contractor, protecting your business is a top priority (as well as cashflow and bookkeeping, of course). While many focus on delivering quality work and managing client relationships, one area that often gets overlooked is having the right insurance in place. We’ve gone over the essential types of insurance every contractor should consider. These

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