Construction Companies – Managing Project & Monthly Profitability
Construction Practical Realities Production of Management Accounts & Data for construction companies is highly complex because there are typically many projects on the go at one time, high volume of transactions, the timing of customer staged payments is different to the timing of bills, and quite often the invoicing dates are not aligned to the […]
Companies House ID Changes for Directors and Persons of Significant Control
Companies House Update Companies House are introducing more Anti Money Laundering stringent rules regarding the identity verification of Directors and Persons of Significant Control (‘PSCs’). This is for all new and existing persons within the company. Individuals Requiring Verification – Directors: All directors of UK companies, including existing directors, are required to verify their identity. […]
Where to Start on Closing a Company
Hundreds of thousands of people in the UK set up a limited company every year hoping to succeed. Unfortunately, to found a startup means to risk a high failure rate. 20% of businesses fail in their first year and around 60% will go bust within their first three years. Not only new businesses can close […]
Electric vehicle chargepoint grants for businesses (2026/27)
If you’re switching your fleet or company cars to electric, the government’s Workplace Charging Scheme still pays towards installing chargepoints at your premises. From 1 April 2026 the grant rose to up to £500 per socket, and funding runs until 31 March 2027. Who can claim Businesses, charities and public sector organisations can apply for […]
Do you need a UTR number?
A UTR number is your ‘unique taxpayer reference’ number. HMRC assigns each self-assessment taxpayer a different number in order to track their tax records. Once you get your UTR number it stays with you all your life, in the same way as your National Insurance number. The UTR number helps HMRC identify you and process […]
HMRC’s new penalties for late filing and late payment
HMRC has replaced its old default surcharge and fixed penalties with a fairer, points-based system. It has applied to VAT since January 2023, and to Income Tax for anyone using Making Tax Digital from April 2026. Late filing: points, then a £200 penalty Each late return earns 1 penalty point. There’s no fine for the […]
Guide to tax as a limited company (2026/27)
Running a limited company gives you more ways to plan your tax, but more rules to follow. This guide covers the main taxes and deadlines for a small UK company in 2026/27, and how directors usually pay themselves. Your company is a separate legal person The company owns its income, pays its own tax and […]
How to tell HMRC you’ve started a business (Self Assessment registration)
The first step after starting as a sole trader is registering for Self Assessment with HMRC. It’s free, done online, and gets you the Unique Taxpayer Reference (UTR) you need to file your tax return. When must you register? Register by 5 October after the end of the tax year in which you started trading. […]
10 ways you could be due a tax refund
Have you ever sat there with someone who has received a cheque from HMRC because they have paid too much tax? I bet you sit there thinking; ‘Have I overpaid in tax?’, ‘Will I receive a tax refund automatically?’ or even ‘How do you get a tax rebate?’ Well funnily enough, you might have overpaid without even […]
Self-employed? Tax and National Insurance explained (2026/27)
Going self-employed means no more PAYE doing the work for you. You now work out, report and pay your own Income Tax and National Insurance through Self Assessment. This guide explains what you pay, when, and how to stay on the right side of HMRC for the 2026/27 tax year (6 April 2026 to 5 […]