Category: Small Business Tax
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Do I Need a Business Bank Account for Small Business?
If you are starting a small business in the UK, one of the first questions you may have is whether you need a separate business bank account, particularly if you are a sole trader and already have a personal current account that you could technically use for receiving customer payments and paying business expenses. The…
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Capital Allowances: Claiming Tax Relief on Equipment and Vehicles
If you are self-employed or run a small business in the UK, buying equipment, machinery or a vehicle can be a significant expense. However, the tax system may allow you to claim tax relief on qualifying purchases through capital allowances. Capital allowances can be particularly useful when you invest in items that you expect to…
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Sole Trader vs Limited Company: Which Is Better for you?
If you are starting a business in the UK, one of the first decisions you will need to make is whether to operate as a sole trader or set up a limited company. Both options can work well, but they are very different when it comes to tax, paperwork, legal responsibility and the way you…
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Annual Accounts vs Company Tax Return UK: What Is the Difference?
If you run a limited company in the UK, you will usually hear about annual accounts and a Company Tax Return, and although the two are closely connected and are often prepared from the same bookkeeping records, they are not the same thing and they are filed for different purposes. In simple terms, annual accounts…
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Limited Company Tax Deadlines and Limited Company Accounts Cost in the UK
Running a limited company in the UK gives you more flexibility than being a sole trader, but it also means you have several different filing and payment deadlines to keep track of, and one of the most common mistakes is assuming that there is just one annual deadline for everything. In reality, your company may…
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Dividends Tax UK: Dividend Tax Rates and Tax-Free Allowance
If you receive dividends from shares or take dividends from your own limited company, you may have to pay Income Tax on that dividend income. The rules are slightly different from ordinary employment or self-employed income, and from 6 April 2026 the dividend tax rates have increased for basic-rate and higher-rate taxpayers. For the 2026/27…
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What Is a CT600 Form? CT600 Online Filing and How to File Without Software
If you run a limited company in the UK, you will normally need to file a Corporation Tax return with HM Revenue & Customs (HMRC). The main form used for this is called the CT600, but the CT600 is only one part of the complete Company Tax Return. The rules have also changed recently. Since…
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How to File Dormant Company Accounts – AA02 form
If you have a limited company that is not trading and has little or no financial activity, you may be able to file dormant company accounts with Companies House rather than preparing a full set of trading accounts. However, being dormant does not mean that you can simply ignore the company. A dormant limited company…
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What Are Micro Entity Accounts?
If you run a very small limited company in the UK, you may be able to prepare and file micro entity accounts instead of full statutory accounts. This is one of the simplest reporting options available and is designed to reduce the amount of information that the smallest companies need to prepare and file each…
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SA800 Partnership Tax Return – What It Is, When You Need It, and Where to Send It
If you run a business as a partnership in the UK, you may need to complete an SA800 Partnership Tax Return each year. Unlike a sole trader, a partnership has its own tax return that reports the business income and expenses, while each partner also reports their share of the profits on their own Self…