Pensions – Companion Accountancy

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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Determining your salary for 2025/2026: A guide for business owners

Leave a Comment / Small Business, Tax Planning, Uncategorised

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

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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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'pension allowance' written over the top of an orange sunset with silhouettes of a couple and a dog walking on the beach

5 ways to make the most of your pension allowance before the tax year ends

Leave a Comment / Contractors, Small Business, Tax Planning

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

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Allowable benefits for UK limited companies

Leave a Comment / Contractors, Limited Company Directors, Small Business

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,

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