The new tax year is upon us so now’s the time to start your business budgeting, but smarter. Entering a new tax year is the perfect time to take a strategic approach to your finances for small business owners and contractors. Business budgeting can help you manage cash flow, reduce unnecessary costs, and set your […]
7 tips on smart business budgeting for the new tax year Read More »
If your business invests in innovation, you’ve likely benefited from Research & Development (R&D) tax relief. Innovation can include developing new products, processes or services, or enhancing existing ones. The incentive of R&D tax relief can lead to a cash credit or a reduction in your Corporation Tax, providing vital support for your innovation efforts.
Big changes to R&D tax relief: What small businesses need to know Read More »
As a business owner and director, deciding on your salary is a crucial task that needs revisiting annually. While this decision can impact your personal income, tax obligations, and company finances, it also requires careful consideration to ensure compliance with tax legislation, including the Managed Service Company (MSC) legislation. At Companion Accountancy, we understand the
Determining your salary for 2025/2026: A guide for business owners Read More »
Running an eCommerce business is both rewarding and challenging. You’ve likely poured countless hours into building your online store, curating products, and ensuring smooth operations. But when it comes to increasing sales, it can feel like there’s always more to learn. The good news? There are proven strategies that can help. Most are easier to
Tax compliance is often seen as one of the least glamorous aspects of managing property, but it’s also one of the most critical. With the government’s rollout of Making Tax Digital for Income Tax and Self-Assessment (MTD ITSA), landlords need to adapt to significant changes in how they report their income and expenses. To help,
Making Tax Digital for Income Tax and Self-Assessment: A guide for landlords Read More »
As a small business owner or contractor, a great LinkedIn profile should showcase your skills, but that’s not all. LinkedIn has the power to help you to build connections, generate leads, and establish your personal brand. That’s why we love LinkedIn at Companion Accountancy, because it helps our clients to flourish. While many may see
5 ways to level up your LinkedIn profile as a small business owner or contractor Read More »
Earning rental income can be an excellent way to build wealth and achieve financial independence, but it comes with responsibilities. Especially when it comes to taxes. Whether you’re a seasoned landlord or just starting with your first property, understanding how your rental income is taxed is essential to staying compliant and maximising your profits. Here,
Understanding how your rental income is taxed Read More »
As we approach the end of the tax year (April 5), contractors and small business owners have a timely opportunity to review their finances and make the most of their pension allowances. Maximising pension contributions not only helps build a secure retirement but also offers tax advantages. Here’s our guide on why this is a
5 ways to make the most of your pension allowance before the tax year ends Read More »
The UK’s first Autumn Budget under Labour since 2010 has set a decisive tone for the nation’s economic direction. Delivered by our first ever female Chancellor of the Exchequer, Rachel Reeves…
Autumn Budget highlights affecting small business owners and contractors Read More »
Running a limited company in the UK comes with numerous responsibilities, especially regarding benefits provided to employees and directors. For contractors and small businesses, understanding allowable benefits is essential. This is because they can either be exempt from tax, offer potential tax reliefs, or have specific tax treatments. Here, we’ve covered what allowable benefits are,
Allowable benefits for UK limited companies Read More »
