Self Assessment 2025/26
Self Assessment 2025/26: Deadlines and Records The 2025/26 tax year ran from 6 April 2025 to 5 April 2026. If you need to complete a Self Assessment return, preparing it early provides more time to check the figures and budget for the tax due. Who May Need to File? A...
Business Tax Planning
Business Tax Planning for 2026/27 Tax planning means understanding liabilities early enough to make genuine commercial decisions before deadlines pass. It is not about artificial arrangements or spending money purely to obtain tax relief. Review the Business Structure Sole traders pay Income Tax and National Insurance on taxable profit. Limited...
The Importance of Record Keeping for Tax Returns
Record Keeping for Tax Returns Accurate records support the figures reported to HMRC. They help demonstrate business income, allowable expenses, tax already paid and claims for relief. Without them, a tax return may be incomplete and difficult to defend during an enquiry. What Records Should You Keep? Depending on the...
Cloud Based Accounting
What Is Cloud-Based Accounting? Cloud accounting uses online software to record transactions, create invoices and produce financial reports. Instead of keeping the accounts on one computer, authorised users can access current information through a secure browser or app. Access and Collaboration The owner, bookkeeper and accountant can work from the...
Fixed Assets
Fixed Assets Explained Fixed assets are items a business expects to use for more than one accounting period rather than sell to customers. Examples include machinery, computers, office furniture, equipment and vehicles. They are shown on the balance sheet rather than being treated entirely as day-to-day expenses when purchased. Capital...
Tax Advisor
What Does a Tax Advisor Do for a Small Business? A tax advisor helps individuals and businesses understand their tax responsibilities, plan ahead and make informed financial decisions. Good tax advice is not about avoiding tax or finding artificial loopholes. It is about applying the available rules, allowances and reliefs...
What is a CIC Company
What Is a Community Interest Company (CIC)? A Community Interest Company is a type of limited company created for businesses that use their activities and profits to benefit a community. CICs are often used by social enterprises supporting community projects. A CIC can trade, employ staff and make a profit....
Setting Up a Limited Company
Setting Up a Limited Company: What Happens Next? Receiving a Certificate of Incorporation is only the beginning of running a limited company. The company is a separate legal entity, so its money, contracts, records and tax responsibilities must be kept separate from those of its directors and shareholders. Open a...
Becoming a Sole Trader
Sole Traders in Cambridge and Nottingham A sole trader is a self-employed person running their own business. There is no separate legal identity between the owner and business. You keep post-tax profits and remain personally responsible for business debts. Advantages of Being a Sole Trader The structure is straightforward: It...
Self Assessment Accountant Cambridge: Why Local Expertise Matters
Filing a Self Assessment tax return can feel overwhelming, especially if your income isn’t straightforward. Whether you’re a sole trader, landlord, contractor, or company director, getting your tax return wrong can lead to penalties, unnecessary tax bills, and a lot of stress. Working with a self assessment accountant in Cambridge...
