HMRC is in the process of contacting nearly 900,000 people who hold more than £3,500 in their bank accounts. It’s part of a review into untaxed interest received on savings. If you receive a letter from HMRC, there’s no need to be alarmed. However, it’s important to understand why they’re reaching out, and what steps […]
Why you might hear from HMRC about your savings… and what to do next Read More »
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
Don’t miss the July 2025 payments on account deadline Read More »
When you think of Ant Middleton, you probably picture the no-nonsense ex-Special Forces guy from SAS: Who Dares Wins. But in a recent twist, Ant and his wife Emilie have found themselves in a spot of bother… not on a battlefield, but in the boardroom. As of March 2025, the couple has been banned from
Understanding director responsibilities: Lessons from Ant Middleton’s disqualification Read More »
Across your business plan, there are many jobs and processes that AI and automation can have a huge impact on. And don’t feel guilty about using this technology. Because between managing finances, handling customer inquiries, and trying to grow your company, there never seems to be enough hours in the day for small business owners.
How AI and automation can save your small business time and money Read More »
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
Home renovations & taxes: Smart business move or risky strategy? Read More »
Long-term success in business doesn’t mean simply maintaining what you’ve built. It means remaining adaptable, embracing new opportunities, and continuing to innovate. For established businesses, this means adopting a growth mindset – a strategic outlook that advances expansion, resilience, and innovation. At Companion Accountancy, our team of accountants believe this mindset is essential for thriving as
The growth mindset: New potential for established businesses Read More »
Don’t panic. Contractors and small business owners in the UK who missed the self-assessment tax return deadline on October 31 still have the chance to submit! There is also an online deadline of January 31, so there is still time to get everything sorted. Here’s what you need to know, the steps you need to
Missed the Self-Assessment tax return deadline? 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 »
Knowing the right time and reason to increase your prices or day rate is a challenge for any small business owner. As a contractor or small business owner, knowing when and how to increase your prices or day rates can feel daunting. However, charging what you’re worth is key to maintaining a sustainable business, rewarding
When to increase your prices and day rates and how to tell your clients Read More »
There are various tax reliefs for small businesses and contractors that can ease the financial pressures that come at the end of each fiscal year. As a small business or contractor in the UK, understanding the tax reliefs available to you can make a significant difference to your financial health. The UK government offers a
7 tax reliefs your small business could be entitled to Read More »
