7 articles
CIS can feel like a maze of deduction rates, verification steps, and monthly deadlines. This guide breaks down exactly how to verify subcontractors, deduct the correct 20% on labour only, file CIS300 returns on time, and reclaim deductions suffered — with a worked example and checklist you can use today.
Company cars, private health cover, and other perks all count as benefits in kind, and HMRC expects them valued and reported correctly on P11D forms every year. This guide breaks down how valuations work, what Class 1A NIC actually costs your business, the exact deadlines for filing and payment, and the journal entries needed to keep your books aligned with HMRC — all illustrated with a worked example so nothing gets left to guesswork.
R&D tax relief can put real cash back into an SME, but only if you understand which scheme applies and how to record it correctly. This guide breaks down qualifying costs, the merged scheme, ERIS, and a worked £200,000 example with journal entries.
Hiring contractors through their own limited company can save money, but only if the engagement is genuinely outside IR35. This guide breaks down the control, substitution and mutuality tests, shows the real cost difference between inside and outside status with a worked example, and explains how to document your decision so HMRC cannot catch your business out retrospectively.
Making Tax Digital is no longer optional for VAT-registered businesses, and MTD for Income Tax is arriving fast for sole traders and landlords. This guide explains the digital link rules, upcoming thresholds, penalty risks, and a worked VAT example so SME owners know exactly what to do next.
Choosing between salary and dividends is not a rounding error for director-shareholders. This guide walks through a real £50,000 worked example, showing how a small salary topped up with dividends can put nearly £4,000 more in your pocket than a salary-only approach, with no change to company performance.
Understanding the Annual Investment Allowance can save SME owners thousands in corporation tax simply by timing equipment purchases correctly. This guide breaks down how AIA works, what qualifies, and how to claim the full deduction in the right accounting period.
