Knowledge Hub
Practical information to help business owners, individuals, landlords and organisations better understand their accounting and tax responsibilities.
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Starting a Business
Starting to work for yourself is exciting, but it also comes with some new tax responsibilities. One of the first questions many new sole traders have is when and how they need to tell HM Revenue & Customs (HMRC) that they are self-employed.
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Limited Companies
A director's loan account records money moving between a director and their limited company that is not salary, a dividend, an expense repayment or repayment of money already owed. This guide explains how director's loan accounts work, what happens when an account becomes overdrawn and the tax consequences that can arise.
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Self Assessment
Not everyone needs to complete a Self Assessment tax return. This guide explains some of the common circumstances in which a return may be required, the key deadlines for 2025/26 and what to do if you are unsure.
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CIS
The Construction Industry Scheme can apply to both contractors paying subcontractors and businesses carrying out construction work for contractors. This guide explains who needs to register, what work CIS covers, how deductions work and the main responsibilities for contractors and subcontractors.
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VAT
Businesses do not normally need to register for VAT from day one, but registration becomes compulsory in certain circumstances. This guide explains the £90,000 VAT threshold, the rolling 12-month test, voluntary registration and what happens once you become VAT registered.
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Limited Companies
If you run your own limited company, there are several ways to take money from the business. Salary and dividends are common, but directors' loans, pension contributions and expense reimbursements can also be relevant. This guide explains the main options and some of the tax considerations for 2026/27.
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Landlords
If you rent out a property, understanding which costs can be claimed against your rental income is an important part of calculating your taxable profit. This guide explains some of the main expenses individual residential landlords may be able to claim.
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Limited Companies
If you run a limited company, the rules for business expenses are different from those that apply to a sole trader. This guide explains some of the common costs a company may be able to pay or reimburse, when Corporation Tax relief may be available and where benefit-in-kind rules can become relevant.
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Making Tax Digital
Making Tax Digital for Income Tax is now in force for some sole traders and landlords. This guide explains who needs to use it, how the income thresholds work, what quarterly updates involve and how to prepare.
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Starting a Business
Choosing between operating as a sole trader or through a limited company can affect your tax, legal responsibilities, how you take money from the business and the amount of administration involved. This guide explains the main differences.
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Self Assessment
A practical guide to allowable business expenses for sole traders, including working from home, mileage, clothing, equipment, professional fees and mixed-use costs.
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From information to a conversation
Our guides provide general information, but accounting and tax treatment can depend on individual circumstances. If you would like to discuss your own situation, get in touch.
