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'changes for business in 2025: updates for small business owners and contractors' written amongst misty clouds

Changes for business in 2025: Updates for small business owners and contractors

Leave a Comment / Contractors, Small Business, Uncategorised

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 […]

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How to claim a work Christmas party as a tax-deductible expense

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

Christmas is a-coming and the work party is sounding expensive! But did you know that HMRC allows you to claim your work Christmas party as a tax-deductible expense? The work Christmas party might be a love it or hate it kind of social event amongst staff, but without one, your staff could end up feeling

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Missed the Self-Assessment tax return deadline?

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

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

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The ins and outs of management accounts for small businesses

Leave a Comment / Accounting and Company Tax, Contractors, Uncategorised

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

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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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A guide to remortgaging for freelancers, contractors, and the self-employed

Leave a Comment / Contractors, Freelancers, Self Employed, Uncategorised

Individuals with non-traditional job statuses often encounter unequal treatment from lenders because of their unconventional income sources, and it’s unfair. For freelancers, independent contractors, and the self-employed, gaining a mortgage and remortgaging might seem more complex due to the lack of a typical income stream. Nonetheless, there are mortgage options that can be customised to

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Limited company directors: Do you know how much personal tax you incurred for 2024/25?

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

As a limited company director, you’ll need to keep on top of your bookkeeping and personal tax obligations for legal compliance and your own financial health. We are now into the fifth month of the financial year, which runs from April 6, 2024 to April 5, 2025. Do you know where you stand in terms

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Is cashflow forecasting beneficial to small businesses and contractors?

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

The financial process known as ‘cash projection’ or ‘cashflow forecasting’ entails estimating forthcoming cash coming in and going out during a set timeframe. While essential for businesses across the board, is it especially advantageous for small businesses and contractors? There are benefits and possible hurdles of cash projection for these demographics. Determining its viability for

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