How to Pay Yourself from a Limited Company
Salary vs Dividends If you're the director of a limited company in the UK, one of the most important financial decisions you'll make is how to pay yourself. Unlike sole traders who simply take drawings from the business, company directors typically pay themselves through a combination of salary and dividends....
GMS Accountants
The Story Behind GMS Accountants How squash, cycling and a love of helping small businesses all shape the way we work. If you’ve ever met me — whether on a squash court, at a networking event, or out cycling around Cambridge or Nottingham — you’ll know I’m not your typical...
Case Study: How a Cambridge-Based Accountant Helped a Client Recover After Missing the Year-End Tax Deadline
Overview A Cambridge-based public house found themselves in a stressful situation after realising they had missed the year-end tax return deadline. With only a few days before HMRC imposed further penalties, they urgently needed a reliable, experienced accountant in Cambridge who could take over, complete the work rapidly, and ensure...
Case Study: How We Helped a Cambridge Business Owner Recover Overpaid Tax
A Real Client Story From Our Accountant Cambridge Practice When a local business owner from Cambridge, first got in touch with us, they were stressed andunsure where things had gone wrong. Their tax bills kept climbing, even though their businesshadn’t changed much. Something didn’t add up, and they hoped a...
Understanding the UK Tax Calendar
UK Tax Calendar: Key Dates Every Business Should Know Staying on top of your tax obligations is essential for running a compliant and successful business in the UK. Missing deadlines can result in penalties, interest charges, and unnecessary stress. Whether you're a sole trader, limited company, or VAT-registered business, understanding...
What is a Balance Sheet
How to Read a Balance Sheet: The balance sheet is one of the key financial statements every business owner should understand. It gives you a snapshot of your business’s financial position at a specific point in time, showing what the company owns, what it owes, and the overall net worth....
Profit V Cash Flow
Cash Flow vs Profit: Why Both Matter for Your Business When running a business, two key financial terms often come up: cash flow and profit. While they might sound similar—and are both essential to understanding your business’s health—they are not the same. Confusing the two can lead to poor financial...
What is an Accountant – Nottingham
What Is an Accountant? (Nottingham Small Businesses & Sole Traders) Running a business in Nottingham means juggling sales, customers, suppliers, tax deadlines, and everything in between. An accountant’s job is to make that whole process easier — and help your business run smoothly, profitably, and compliantly. But what exactly does...
Capital Allowances Explained
Capital Allowances Explained: How They Work and Why They Matter for Your Business When your business invests in equipment, vehicles, or machinery, you’re not just improving efficiency — you could also be unlocking valuable tax savings through capital allowances. Understanding how these allowances work, and how they differ from depreciation,...
How to prepare for the Self-Assessment Deadline
How to Prepare for the Self-Assessment Deadline (31 January) If you're self-employed, a company director, or have income outside PAYE, you’re likely required to complete a Self-Assessment tax return each year. The deadline to submit your return online and pay any tax owed is 31 January, and preparing early can...
