Your Trusted Business Partner
Most things are not set in stone, most things are not inevitable … including your tax liabilities!A world of possibilities
Please see below, links to recent blog articles published by our Partner company QAccounting:
How Much Should I Pay Myself This Tax Year (2026 to 2027)?
A new tax year will start 6th April 2026 and runs until the 5th April 2027 next year! Therefore, this is exactly the question we are encouraging all of our clients to ask themselves at this time of year: How much should I pay myself in the 2026 to 2027 Tax Year?
April 2026: Mandatory Switch to Making Tax Digital (MTD) for Sole Traders and Landlords
From 6 April 2026, a change is coming for many UK Sole Traders and Landlords: Making Tax Digital for Income Tax (often called “MTD for Income Tax” or “MTD ITSA”) is becoming mandatory.
How Much Should You Set Aside for Tax as a Sole Trader?
This article explains why it is essential for sole traders to set aside sufficient funds for tax, and how you can estimate a “safe” amount to put aside during the year. It is written for UK sole traders and focuses on Income Tax, National Insurance, Payments on Account, and the upcoming changes under Making Tax Digital.
How will the 2025 Autumn Budget Impact My Business?
This article examines how the recent 2025 Budget announced by the Chancellor of the Exchequer Rachel Reeves will impact small owner managed businesses.
How Do Pensions Work and What Tax Relief is Available?
This article briefly explains how pensions work, the main types of schemes available, and the tax advantages that accompany them.
Self-Assessment Validation – What Checks does HMRC Perform and Why?
In recent years we have noticed a higher incidence in the volume of self-assessment personal tax returns being checked. This article considers the areas that HMRC typically check, why, and common issues to try and avoid!.
Sole Trader Bookkeeping Basics: What Every Self-Employed Person Should Know?
Good bookkeeping is not only a legal obligation but is also essential for: managing cash flow, maximising tax efficiency, and building a sustainable business. This guide will take you through the fundamentals of bookkeeping at a high level, focusing on accountancy and tax advice tailored specifically to UK sole traders.
How Does MTD For Income Tax Work?
If you are a self-employed sole trader or earn income from property then you need to understand the new rules for Making Tax Digital (MTD) for income tax! The new rules start from April 2026, and they will require you to submit your financial records to HMRC throughout the year, in addition to still submitting a self-assessment tax return. Therefore it is essential to keep your accounting records up to date throughout the year (instead of just doing this at the year end), and if you don’t have time to do this yourself, then it is definitely a good idea to hire an accountant to help you!
What If I Haven’t Filed a Tax Return for One or More Years?
If you are a UK taxpayer and you haven’t filed your self-assessment personal tax returns for one or more years, you’re not alone! In this article, we explain the consequences of failing to submit your tax returns, how interest and penalties are calculated, and what steps you can take to resolve the situation and bring your tax affairs up to date. We also explore why engaging with a qualified accountant can be an essential part of getting back on track!
How Much Does a Director Loan Cost?
Director loans are a popular yet often misunderstood financing method used by small business owners. If you’re a company director who has taken, or is considering taking, money out of your company (that isn’t structured and subject to tax as: a salary, dividend, or expense reimbursement), then you are effectively using a Director Loan. It is therefore important to understand these rules and the costs involved.
Do I Need to Use a Separate Bank Account for My Sole Trader Business?
One of the most common questions we receive when clients are setting up as a self-employed sole trader for the first time, or indeed for existing businesses who transfer into us is: “Do I need to use a separate bank account for my Sole Trader business?” The article explains the benefits of using a separate bank account for business transactions as a self-employed sole trader.
Arran House, 15d Skye Road,
Prestwick, KA9 2TA
Contact
(+44) 01294 276111
Follow us
© 2025 all rights reserved. Designed with WordPress.