Posts by graham

Filing your Self Assessment tax return can be a daunting task, especially if you’re self-employed or running a small business. With tight deadlines and strict rules from HMRC, even a small mistake can lead to penalties, unexpected tax bills, or delays in refunds. To help you stay on track and stress-free, here are five of…

How to Avoid January Stress Every January, thousands of UK taxpayers face a frantic dash to meet the 31 January Self-Assessment deadline. Whether you’re a sole trader, landlord, or company director, late filing can mean penalties, sleepless nights, and missed opportunities to cut your tax bill. The good news? With a little forward planning –…

Planning for retirement is an essential part of financial well-being, and pensions remain one of the most tax-efficient ways to save for the future. For business owners and individuals in Cambridge and Nottingham, knowing how pensions work—and the opportunities for tax relief—can make a significant difference. Tax and pensions UK pensions are designed as deferred…

Corporation tax is one of the key responsibilities for any UK company. While it can seem like a dull tangle of rules (and, well, it is), understanding the basics is vital — especially if you’re a small business or limited company based in Cambridge, Nottingham, or anywhere in between. Here’s what you need to know…

Business Expenses – What Can You Claim and Save on Tax? If you’re running a business – whether it’s a tech start-up or a consultancy from your home office – knowing what you can claim as a business expense can make a huge difference to your tax bill. HMRC allows you to deduct certain costs…

How to Read Your Profit and Loss Statement – A Cambridge Business Guide If you run a business in Cambridge, whether it’s a bustling café, a tech start-up, or a consultancy firm, one financial report will always be at the heart of your success: the Profit and Loss (P&L) Statement. Also called the Income Statement,…

Income Tax in Cambridge – What You Need to Know for 2025/26 If you live and work in Cambridge – whether you’re an employee at one of the city’s tech firms, a self-employed consultant, or running your own café – chances are you’re paying Income Tax. Income Tax is one of the UK government’s main…

Making Tax Digital: What It Means for Your Business Making Tax Digital (MTD) is one of the UK government’s most significant changes to the tax system in recent years. Designed to make tax administration more effective, efficient, and easier for taxpayers, MTD is transforming how businesses, sole traders, and landlords handle their tax affairs. But…

Understanding the Director’s Loan Account: What You Really Need to Know If you’re a director of a UK limited company, you might’ve come across the term Director’s Loan Account (DLA) and thought, “Ah, free money!” Sadly, HMRC doesn’t share your enthusiasm. The DLA isn’t a piggy bank, it’s a formal accounting record — and ignoring…

What Is the UK’s Personal Tax Allowance? If you earn income in the UK—whether through employment, self-employment, or other sources—you’re entitled to a Personal Tax Allowance. This is the amount of income you can earn each tax year before you have to start paying Income Tax. How Much Is the Personal Allowance? For the 2025/26…