Category: Small Business Tax
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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…
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What are business losses?
Understanding how business losses work can help you avoid paying more tax than necessary and make better financial decisions while your business is growing. What Are Business Losses? A business loss happens when your allowable business expenses are higher than your business income during a tax year or accounting period. For example: Although making a…
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Accountant Fees for Small Business: Are You Paying Too Much?
Are you paying too much? The short answer: If you run a standard UK limited company and pay more than £300 to £400 a month for basic services, or if you are a sole trader paying over £150 a month, there is a good chance you are overpaying. However, the cheapest option isn’t always the…
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How much do accountants charge for year-end accounts in the UK?
If you are self-employed or run a small business in the UK, expect to pay premium accounting fees of between £400 and £1,200 for a thorough year-end self-assessment tax return as a sole trader. If you operate a small limited company, comprehensive year-end accounts and your corporation tax return will typically cost between £1,500 and…
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HMRC late filing penalty appeal
Yes, you can appeal an HMRC late filing penalty. To succeed, you must have a “reasonable excuse” for missing the deadline, and you usually need to make your appeal within 30 days of the date on the penalty letter.+1 Step 1: Check if you have a “Reasonable Excuse” HMRC will not accept an appeal just…
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Property income rates 2027
Property income is any money you earn from letting out land or buildings. This includes renting out a flat, a house, or even a parking space. How it is taxed depends on how much you earn and the specific allowances you use. Generally, if your property income is very low (under £1,000), you do not…
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Dividend Tax Rates 2026/27
From 6 April 2026, the amount of tax you pay on dividend income will increase for most people. The new rates will be 10.75% for basic rate taxpayers and 35.75% for higher rate taxpayers. The additional rate will stay the same at 39.35%. These changes mean that investors and company directors who pay themselves via…
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Accountant vs Bookkeeper: Which Service Does Your Business Actually Need?
The Short Answer The main difference is timeframe and focus. Which do you need first? Most small businesses need a bookkeeper first. You need someone to track money coming in and out accurately from day one. You generally bring in an accountant closer to year-end to file your taxes, or quarterly if you need high-level…
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Accountant Fees in the UK: What Should a Small Business Expect to Pay?
To give an immediate benchmark: for a standard UK small business or sole trader, professional accounting fees typically range from £60 to over £300 per month. For a sole trader with low volume, you can expect to pay around £60 per month. As a business grows into a limited company or becomes VAT-registered, fees usually…