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 »
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 »
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 »
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 »
Are you driving into 2025/2026 tax-efficiently? Allowable benefits, such as company cars, are affected by things like Benefit-in-Kind and National Insurance Contribution rates. Business is changing all the time and small businesses and contractors need to stay on top of these latest tax considerations to keep their businesses cruising smoothly. Whether you’re driving around town
Company cars: What small businesses and contractors should 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 »
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 »
It’s a question we’re asked a lot at Companion Accountancy. So, we’re going to answer honestly and transparently. Whether you’re a small business owner or contractor, understanding the implications is essential. Ultimately though, it is a decision that is best arrived at by you and only you as it largely depends on your comfort within
Should I give my partner shares in the company? Read More »
As 2025 approaches, small business owners and contractors need to stay informed about key regulatory changes that could affect their finances. These changes stem from announcements made in the Autumn Budget of October 2024. The government outlined key fiscal updates aimed at balancing economic growth with environmental and social priorities. Understanding how these updates affect
Changes for business in 2025: Updates for small business owners and contractors Read More »
