Increasing sales might make more profit for your business but consider increasing profit margins, especially if there is limited opportunity to increase sales. Growing your business can be achieved by building profit rather than sales. Focus on larger margins Concentrate on the products or services you sell that have the biggest margins. By selling more of these, your business will gain more profit. Train your employees to be aware of… Read more
Welcome to the Budget 2025 edition of Tax E-News. On 26 November 2025, Chancellor Rachel Reeves presented her second Budget to Parliament. After the tax-raising budget of 2024, it had been hoped by the government that widely applicable tax increases would not be required again in 2025. However, with economic pressures continuing to apply, tax increases have been announced and these will affect the vast majority of households. Headlines included:… Read more
Running a small business is exciting – but let’s be honest, managing the admin side of things can feel overwhelming. Between keeping financial records, looking after daily operations, and ensuring compliance with tax laws, it’s easy to feel buried under endless to-do lists. But here’s the good news: with the right strategies, small business administration doesn’t have to be a headache. Here are some practical steps to streamline your business… Read more
Without knowing your break-even point, you can’t make informed business decisions. To cover the costs of your business you need to sell enough goods or services to reach your break-even point. Knowing where that point is, and how long it will take you to reach it, can be fundamental to your success. This especially true if you’re thinking about starting or buying a business. Calculate fixed and variable costs The… Read more
Welcome to the November 2025 edition of Tax E-News. We hope that you find this informative. Please contact us if you wish to discuss any matters in more detail. PLANNED INHERITANCE TAX RELIEF RESTRICTIONS FROM APRIL 2026 In Autumn Budget 2024, the Chancellor announced that restrictions to the amount of Agricultural Property Relief (APR) and Business Property Relief (BPR) will apply from 6 April 2026. APR and BPR currently give… Read more
Many entrepreneurs believe that hard work and dogged determination are all it takes to build and sustain a successful business. But when you consider the pressures of running a company, it seems wise to add effective stress-management to the list. Left unchecked, stress can erode your passion and undermine performance – not to mention, take a serious toll on your health. Research compiled by Office Vibe reveals that over 70%… Read more
Imagine receiving a call from what sounds like your boss, urgently requesting a fund transfer. Or maybe you’re asked to verify your identity using a government ID—except the person on the other end has a near-perfect AI-generated fake of your ID card. Scenarios like these aren’t far-fetched anymore. AI-powered fraud is growing rapidly, and both businesses and individuals need to understand the risks and how to defend themselves. AI-powered fraud… Read more
Welcome to the October 2025 edition of Tax E-News. We hope that you find this informative. Please contact us if you wish to discuss any matters in more detail. BUDGET 2025 DATE – 26 NOVEMBER The Chancellor will deliver Autumn Budget 2025 on 26 November 2025. The content of the Autumn Budget is anticipated to address significant fiscal challenges, including potential tax rises to address the public finance deficit. Before… Read more
As of July 2025, Companies House in the UK has introduced a phased identity verification process for directors and Persons with Significant Control (PSCs) under the Economic Crime and Corporate Transparency Act 2023. These changes represent the most substantial reform to Companies House operations in decades, aimed at combating economic crime and enhancing corporate transparency. Who must verify The following individuals are required to verify their identity: Company directors (including… Read more
There are all kinds of groups dedicated to networking. Some are highly structured with performance requirements, exclusive membership, and the payment of dues. Others are free form, come as you please and no charge. Not every group is right for every kind of business. You will find that some groups may simply not have connections in the market you are seeking to attract. You will find some groups have rules… Read more
If you’re a business owner, chances are you’re juggling a lot—keeping your team motivated, negotiating with partners, meeting customers’ needs, and trying to build meaningful connections in an increasingly digital world. It’s easy to feel like you’re on a treadmill going at double speed. But here’s the thing—no matter how much technology changes the way we do business, one truth remains constant: your success will always depend on how well… Read more
Welcome to the September 2025 edition of Tax E-News. We hope that you find this informative. Please contact us if you wish to discuss any matters in more detail. ADJUSTMENTS FOR PRIVATE USE HMRC will be running a digital campaign aimed at encouraging accurate private use adjustments of business expenses that are reported via Self Assessment returns. To be allowable for tax, expenses must be ‘wholly and exclusively‘ incurred for… Read more
Fraudsters are pretending to be HMRC in texts, emails, and phone calls, offering fake refunds or threatening fines to trick people into revealing personal or banking details. If you file your own return, run a business, or receive benefits, it’s vital you know what to look out for. What HMRC scams look like Common scam formats include: Emails promising tax rebates with links to fake refund claim forms. Text messages… Read more
Social media can feel overwhelming. With so much noise and so many platforms, where do you start? The truth is, a great social media strategy can transform how you connect with customers and help to grow your business. The reach and accessibility of social media platforms are unprecedented. They connect businesses with a vast audience, in real-time. Besides their broad reach, social media platforms also serve as a valuable tool… Read more
When you’re running a business, every day feels like a balancing act. Emails, meetings, planning strategies—it’s overwhelming. But what if the secret to long-term success wasn’t massive overhauls or inspiring “aha” moments? What if it was small, consistent changes that compound over time? That’s the premise of James Clear’s bestseller Atomic Habits, and it’s a game-changer for modern business owners. Here’s how some of the book’s most powerful lessons can… Read more
Welcome to the August 2025 edition of Tax E-News. We hope that you find this informative. Please contact us if you wish to discuss any matters in more detail. LEGISLATION DAY 2025 – WHAT WAS PUBLISHED? On ‘Legislation Day’ (21 July 2025), HM Treasury released a range of draft legislation and tax documents. The key measures to be implemented by the new legislation can be categorised into the following areas:… Read more
When it comes to valuing a business, most people’s first thought is straightforward—profits. While financial success is undoubtedly a critical aspect, it’s far from the only factor determining a business’s true worth. For small business owners and entrepreneurs, understanding the complexities of valuation can offer a clear roadmap for sustainable growth and long-term success. Here is a fresh perspective on what makes a business truly valuable. We’ll discuss traditional valuation… Read more
Cyber security is a constantly evolving threat, with cybercriminals using increasingly sophisticated tactics to exploit vulnerabilities. Without proper safeguards, your business could face data breaches, financial losses, and reputational damage. This checklist outlines key measures to help you strengthen your defences, protect sensitive information, and reduce the risk of cyber threats. Cyber Security Checklist Read more
Think back to when you started your business. What drove you? Maybe it was the dream of freedom, the excitement of being your own boss, or the simple fact that you loved what you did. Fast forward to now—are you thriving and in control, or are you stuck juggling a million things, feeling like you’re working harder than ever with little to show for it? That’s the exact scenario Michael… Read more
Welcome to the July 2025 edition of Tax E-News. We hope that you find this informative. Please contact us if you wish to discuss any matters in more detail. EXTRACTING FUNDS FROM AN OWNER-MANAGED COMPANY “What’s the most tax-efficient way to take funds out of my company?” is perhaps the most common question put to accountants by their owner-managed company clients. The answer used to be simple: “Take a salary… Read more