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a landlord or small business owner stands in front of two houses with bitcoin cryptocurrency piled around her and falling from the sky

HMRC are going after crypto tax dodgers: Could you be at risk of a £300 fine?

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If you’re a landlord or self-employed and have dabbled in cryptocurrency – even just occasionally – it’s time to pay attention.  HMRC is tightening its grip on digital assets (or cryptoassets), with new international reporting rules coming into effect from January 2026. These changes could lead to fines of up to £300, or even more, […]

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three cartoon accountants gather round a table looking shocked at a strawberry sandwich

HMRC takes M&S to court over its strawberry sandwich: What small businesses can learn

Leave a Comment / Accounting and Company Tax, Limited Company Directors, Small Business, Uncategorised

When it comes to VAT, even the biggest brands aren’t immune from scrutiny. Marks & Spencer (M&S) is currently at the centre of a legal battle with HMRC over the classification – and therefore the VAT treatment – of one of its food items: a strawberry sandwich. It might sound trivial, but the implications reach

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cartoon flowers on a work desk with a MAc computer in the background, representing trivial benefits for small businesses and contractors

What are trivial benefits? A guide for small business owners and contractors

Leave a Comment / Contractors, Small Business, Uncategorised

When running a business, finding efficient and tax-effective ways to reward your team can be a challenge. That’s where trivial benefits come in. These are of course different from allowable benefits, which follow a different set of rules and thresholds. Introduced in April 2016, these small perks are exempt from tax and reporting, provided they

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A manholding a P11D form smiling, with a big red and white X behind him

End of the P11D? Changes are coming in April 2027?

Leave a Comment / Contractors, Payroll, Small Business, Uncategorised

The annual requirement to complete and submit a P11D is a familiar part of the payroll and year-end tax routine for contractors and small business owners. But with changes on the horizon, the traditional P11D process may soon become a thing of the past. HMRC will make it so that all taxable employee benefits will

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a building contractor looking at a piece of paper from a folder labelled "tax"

Year-end tax planning strategies for small business owners and contractors

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As the tax year draws to a close, it’s the perfect time for small business owners and contractors to take stock of their financial position and adopt effective tax planning strategies. Thoughtful preparation can not only reduce your tax liability but also ensure you’re making the most of available reliefs and allowances. Companion Accountancy is

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Cartoon couple putting pound coins into a giant piggy bank representing UK state pension

Securing your UK state pension: A guide to qualifying years, gaps, and pensionable age

Leave a Comment / Small Business, Uncategorised

A quick guide to the UK state pension. For small business owners, planning for the future is just as crucial as managing the day-to-day running of your company. One important aspect of financial security in later life is ensuring you qualify for the UK State Pension. This guide will help you understand how qualifying years

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A cartoon man sat at a desk working on AI and automation on his computer, while a floating orange robot pointing at the screen

How AI and automation can save your small business time and money

Leave a Comment / Self Employed, Small Business, Uncategorised

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.

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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?

Leave a Comment / Contractors, Freelancers, Self Employed, Small Business, Tax Planning, Uncategorised

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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