Accounting

Earning money through dividends is a smart move, but knowing how much tax you’ll pay on them is crucial to keeping that cash flowing. The UK government has shaken things up again for the 2024/25 tax year, so let’s break down exactly what you need to know about dividend taxes. 📉 Dividend Allowance Changes Here’s … Read more

If you’ve heard the term “Benefits in Kind” (BIK) and thought, “Huh?”, don’t worry—you’re not alone! BIK might sound complicated, but it’s simply a fancy way of saying perks you get from your employer that aren’t cold, hard cash. Let’s break it down, Dead Simple Accounting style. 😎 What Exactly Are Benefits in Kind? 🤔 … Read more

If you’ve ever heard your accountant mention a P11D form and thought, “Sounds boring!”—you’re right, it’s not the most exciting paperwork in the world. But it is important for keeping the taxman happy! Let’s break down what a P11D is, who needs it, and how it affects your tax bill, in plain English. What Is … Read more

The UK’s Cycle to Work Scheme is a win-win for employees and employers, letting you save on bike and accessory costs through salary sacrifice. Here’s how it works: How Does It Work? Employers provide bikes, and employees agree to a salary reduction to cover the costs. This reduces taxable income, cutting down tax and National … Read more

Whether you’re running a limited company, a sole trader, or managing payroll, keeping proper records is crucial for staying compliant with HMRC requirements. Not keeping records could lead to penalties and a lot of stress! Let’s break it down by type of business: Limited Companies 🏢 As a company director, you’re responsible for keeping all … Read more

Welcome to the world of freelancing and small business ownership! While the freedom to set your own rates and manage your income is fantastic, it often comes with the challenge of chasing unpaid invoices. Don’t worry – we’ve got you covered with our 5-Step Approach to getting paid without damaging client relationships. Step 1: Remember, … Read more

Let’s face it – salary negotiations can turn even the most confident professionals into a bundle of nerves. In an ideal world, you’d stride into that meeting room like a boss, list your achievements without hesitation, and name your price without breaking a sweat. 🎤 But in reality? Most of us end up with sweaty … Read more

Hey there, fellow entrepreneurs and tax-tackling titans! 🦸‍♀️🦸‍♂️ Are you tired of watching your hard-earned profits disappear into the taxman’s pocket? Fear not! We’ve got a treasure trove of tips and tricks to help you reduce your tax bill and keep more money where it belongs – in your business. 💰 In this post, we’ll … Read more

Hey there, money-makers and asset-shakers! 💰 Are you ready to dive into the exciting world of Capital Gains Tax (CGT)? We know, we know – taxes aren’t always the most thrilling topic, but understanding CGT is crucial for anyone looking to make some serious profits. 💪 In this post, we’ll break down the basics of … Read more

Hey there, money-makers and tax-payers! 🙌 Are you feeling the excitement of pay rises, bonuses, and new clients? While you’re busy celebrating your success, you might notice the 40% tax bracket creeping up on you. Don’t panic! We’re here to help you understand what it means and how to handle it like a pro. 😎 … Read more