How VAT Payments on Account Work
Businesses owing over £2.3 million in VAT annually must make advance payments on account. These...
How umbrella companies work
Umbrella companies offer an easy way for freelancers and contractors to get paid without running...
How to Stop Future Payments on Your Debit or Credit Card
Stopping future payments from being made on your debit or credit card is crucial for...
How to pay corporation tax online
Paying Corporation Tax? Always use the correct reference or risk delays and penalties.
To pay Corporation...
How to interpret your tax code
The letters in your tax code indicate whether you are entitled to the annual tax-free...
How to Increase Gross Profit Returns
Gross profit is one of the clearest indicators of how well your business is performing...
How to gain a competitive advantage
In every market, businesses face competition. Some competitors may be larger, others may have deeper...
How to claim a tax refund
If you believe you have overpaid tax to HMRC, you can typically claim a tax...
How to check your tax code
Your tax code determines how much tax is deducted from your pay. While 1257L is...
How to Check the Creditworthiness of New Customers
Before extending credit to new customers, it’s essential to assess their financial reliability. Checking their...
How to check employment status
HMRC’s CEST tool gets a revamp from 30 April 2025, with clearer questions and updated...
How to Approach Your Bank for a Business Loan
Asking your bank for a business loan can feel daunting, but it doesn’t have to...
How Small Businesses Can Survive a Recession
Recessions can be tough on small businesses, but they do not have to spell disaster...
How should multiple self-employed incomes be treated
Running more than one self-employed business? HMRC will not always treat them as separate. Whether...
How many businesses are there in the UK?
Current estimates suggest that there are around 5.6 million businesses operating in the UK. This...
How far back can HMRC assess under-declared taxes?
From income tax to VAT, HMRC has specific time limits for issuing tax assessments. Depending...
How donations to charity can provide tax relief
Gift Aid transforms charitable donations by allowing charities and CASCs to claim 25p extra for...
How do HMRC define “wholly and exclusively” for tax purposes
Not sure if a business cost is deductible? HMRC’s ‘wholly and exclusively’ rule is the...