UK Tax

Personal Pension contributions Vs Dividends If you run a UK limited company, you’ve probably been told the “standard play” is dividends. But here’s the tax-manager move most directors miss, an employer pension contribution is a company expense that can be far more efficient than taking the same money as dividends. Done properly, it can reduce your company’s taxable profits and  avoid dividend tax now. Why dividends often cost more than you think Dividends are paid out of prof

From April 2026 , HMRC starts moving landlords, self-employed people and many contractors from “one tax return a year” to digital records + quarterly updates . If you wait until the last minute, you’ll be forced into rushed software, messy books, and avoidable penalties. TaxHub makes you MTD-ready fast and keeps it running for you. What’s changing (the part you actually need to know) If you’re in scope for MTD for Income Tax (MTD ITSA), you’ll need to: keep digital records us

Missing the Self Assessment deadline is one of those things that can get expensive very quickly, even if you don’t owe much tax. Here’s a clear breakdown of what HMRC charges, when the penalties start, and a few practical tips to avoid (or reduce) them. This applies to most individual Self Assessment returns. UK Self Assessment penalties - Key deadlines 31 October: paper return deadline (if you file on paper) 31 January: online return deadline for the tax year, and usually th

If you’re a self-employed subcontractor in construction, you’ve probably had money taken off your payments under CIS (Construction Industry Scheme). This isn’t “lost” money, it’s usually tax paid in advance to HMRC. How CIS works When a contractor pays you, they normally deduct: 20% if you’re CIS registered 30% if you’re not registered(Some subcontractors can qualify for 0% (Gross Payment Status).) These deductions count towards your Income Tax and National Insurance for the

Costly Errors Bookkeeping mistakes are more common than many business owners realize, and over time, these errors can lead to lost revenue, compliance issues, and poor financial decisions. One of the most frequent mistakes is failing to separate personal and business finances, which creates confusion and makes accurate reporting difficult. Another common issue is inconsistent record-keeping. Missing receipts, uncategorized expenses, and delayed data entry can quickly add up,

Digital Finance As businesses evolve, traditional accounting methods are quickly being replaced by cloud-based solutions. Cloud accounting allows financial data to be accessed securely from anywhere, giving business owners real-time insight into their financial performance without relying on spreadsheets or manual updates. One of the biggest advantages of cloud accounting is automation. Routine tasks such as bank reconciliations, expense tracking, and invoicing can be handled

Compliance Simplified Staying tax-compliant is one of the most important responsibilities for any business or freelancer, yet it often feels overwhelming. With changing regulations, strict deadlines, and complex documentation, even small mistakes can lead to penalties or unnecessary stress. The good news is that tax compliance doesn’t have to be complicated when you follow the right process. The foundation of compliance starts with accurate record-keeping. Every invoice, rece