Limited Company VAT: What You Need to Know

In this post, we’ll explore everything you need to know about Limited Company VAT, including when you need to register for VAT, how to manage VAT for your business, and the common VAT schemes available.

What is the Construction Industry Scheme?

Under CIS, contractors are responsible for deducting tax from payments made to subcontractors for construction work. The deductions are then passed on to HMRC.

What is Capital Allowance?

Minimising tax liabilities is a key concern for UK businesses, and capital allowances provide a valuable way to reduce taxable profits legally. These allowances enable businesses to claim tax relief on qualifying capital expenditures, effectively lowering their overall tax bill.

Managing Taxes as a Digital Nomad

Understanding how to manage your taxes as a digital nomad is essential to avoid legal pitfalls and ensure you're compliant with both UK tax law and the laws of any country you’re working in.

The Importance of Small Business Budgeting: How to Create a Budget that Works

In this post, we'll explore why budgeting is crucial for small businesses, provide a step-by-step process for creating an effective budget, and discuss tools and best practices for maintaining financial discipline.

How to Handle Payroll and PAYE for Your Limited Company

When you run a limited company, managing payroll and understanding PAYE (Pay As You Earn) are essential aspects of your responsibilities. Not only does this involve paying your employees correctly, but it also ensures compliance with UK tax laws.

What is Benefit-In-Kind and Company Cars

Benefit in Kind (BIK) tax applies to employees who receive perks from their employer that have a monetary value—such as a company car. If you drive a company car for personal use, it is considered a taxable benefit, and you'll need to pay BIK tax.

6 Important Financial Reports for Small Business

Understanding and utilising the right financial reports can transform how you manage your business finances. These reports provide crucial insights into your company's financial health, helping you make informed decisions, identify potential issues, and plan for future growth.

Navigating April 2025 Tax Changes

As we edge closer to the conclusion of the 2024/25 tax year on 5 April 2025, it’s the perfect time to explore the key tax changes set to take effect this year.

Key Accounting Dates April 2025

April is a critical month for UK businesses as the new tax year begins, bringing with it a fresh set of accounting and tax deadlines. Staying on top of key dates is essential to avoid penalties and ensure smooth compliance with HMRC.
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Accounting Wise is a trading style of Accounting Wise Ltd, a limited company registered in England under company number 09365202. Our registered office is: The Carriages, Station Road, Ware, SG12 9PL UK.

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