I frequently get asked how easy it is to switch your accountancy to Switchfoot and what is involved. Switching accountants in the UK is straightforward, but it is essential to manage it carefully to avoid disruptions to your financial affairs. Here is a step-by-step guide: Be clear about the reasons for the Switch Are you […]
Staying on top of the latest accounting, tax, and compliance deadlines helps you stay organised with your returns. Here are the deadlines and cut-off points for Q2 of 2025 to add to your diary. Please always double-check your deadlines with Companies House, HMRC and your accountant. NOTE: If your company’s accounting period is longer […]
Making Tax Digital for Income Tax (MTD ITSA) As an accountant who has lived with being told of the oncoming “doom” for 10 years since it was first proposed as the end of tax returns and aimed to create a “transformed tax system,” it is safe to say I am a little cynical about MTD […]
Paying Your Self-Assessment Paying your self-assessment liabilities in January is relatively easy, if not painful. What do you have to pay by 31 January? On 31 January, you may need to pay the following amounts related to your Self-Assessment: Balancing Payment for the Previous Tax Year This is the remaining tax you owe for the […]
Staying on the ball with the latest accounting, tax and compliance deadlines helps you stay organised with your returns. Here are the deadlines and cut-off points for Q1 of 2025 to add to your diary. Please always double-check your deadlines with Companies House, HMRC and your accountant. NOTE: If your company’s accounting period is longer […]
Getting your personal tax in order before the year-end As the tax year draws to a close, it’s important to think about your own personal tax situation and to make sure you’re maximising any potential allowances and reliefs. Various annual allowances and tax bands will expire on 5 April each year. By taking advantage of […]
Could employing an apprentice save your business tax? The chancellor recently announced that the employer’s national insurance rate would increase to 15% for 2025/2026. This means that many businesses, including micro businesses with only one director on the payroll, are facing increased costs to pay salaries. Many small businesses have been helped by the increased […]
Do you need a bespoke salary and dividend plan for 2025/2026? The days have passed when the “house” salary and dividend (remuneration) strategy could be used as a solution for most straightforward clients, i.e. £12,570 plus dividends. Anyone wanting to optimise their income should consider paying for bespoke Tax advice on the best salary strategy […]
What does an increase in Employers National Insurance mean for your business? The increase in employers national insurance contribution for 2025/2026 will increase the cost of employing people for many businesses, as they will now pay 15% rather than 13.8%. The earning thresholds for when the tax must be applied has been lowered to £5,000 […]
The end of January has a deadline – the self-assessment tax deadline. It looms large for thousands of people and can cause a significant amount of anxiety. But we are here to help – and we know that there are lots of things you can do to make this time of year much more manageable […]