Tag: tax deductions

Tax & Compliance

The Construction Industry Scheme (CIS) Explained: How to Deduct, Verify, and Reclaim 20% Tax on Subcontractor Payments

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.

Oct 13, 2026 7 min read

Tax & Compliance

Capital Allowances Explained: How the Annual Investment Allowance Cuts Your Corporation Tax Bill

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.

Sep 15, 2026 6 min read

Accounting Fundations

Capital Expenditure vs Revenue Expenditure: What’s the Difference and Why It Matters for Your Business

When a business spends money, not every payment is treated the same way in the accounts. A £300 printer cartridge and a…

Aug 3, 2026 8 min read