How much can you claim for using your home as an office as a limited company director?
If you work from home you can usually expect to incur additional expenses, but did you know that you may be able to claim tax relief on those expenses if using part of your home as an office? In [...]
What to Do If You Can’t Pay HMRC: Expert Guidance from SG Accounting
We know that from time-to-time everyone can experience uncertainty surrounding their finances, and that this time of year in the lead up to Christmas and tax return season can amplify those worries. If you’re struggling with balancing your business’ [...]
What You Need to Know About Business Asset Disposal Relief (BADR)
It’s essential to understand how Business Asset Disposal (BADR) works, if you’re considering or preparing to wind down your business. Known previously as Entrepreneurs’ Relief, it can reduce the amount of tax you pay on disposals of qualifying business [...]
How to protect yourself and your business from HMRC tax scams in the UK
UK tax scams are becoming increasingly sophisticated, especially around the Self-Assessment Tax return deadline. Fraudsters often try to impersonate HMRC to trick individuals and business owners into revealing personal or financial information. Whilst HMRC have reported a 12% drop [...]
How Associated Companies Affect Corporation Tax from Your Trading Company
If you’re running multiple trading companies, it’s essential that you understand the concept of ‘associated companies’. HMRC uses the rules on associated companies to determine the small profits rate of Corporation Tax, so this means that the more companies [...]
SG Accounting Celebrates Runner-up Recognition at the Contracting Awards 2025
Proud to be recognised once again We’re delighted to share that we’ve been named Runner-Up in the Best Contractor Accountant (1,000 – 3,000 Clients) category at the 2025 Contracting Awards! While we didn’t take the top spot this year, [...]
ID Verification at Companies House – what you need to know
From November 18th, 2025, Companies House will be enforcing mandatory identity verification for all Limited Company directors, Persons with Significant Control (PSCs), and anyone who files on behalf of the company. This change, under the Economic Crime and Corporate [...]
Dormant Companies: what Contractors and freelancers with a UK Limited Company need to know
If you have a Limited Company you may find there are times when you’re not trading but you want to keep your company active, or you may decide to set a company up but not trade straight away. In [...]
SG Accounting’s FCSA accreditation renewal 2025
The whole team here at SG Accounting are proud to announce that our FCSA accreditation has been renewed for yet another year! How do you become FCSA accredited? To maintain our status as an accredited FCSA member, we undergo [...]
What do Limited Company directors need to file with HMRC and Companies House throughout the year?
As a director of your Limited Company, you have legal responsibilities such as filing and submitting various forms and returns to Companies House and HMRC throughout the financial year. Failing to do so will result in penalties, fines and [...]
What are the changes for the Employer’s National Insurance rate for 2025/26?
Overview of Employer's National Insurance Contributions Back in October 2024, the UK government released the much-anticipated Autumn Budget where they announced a variety of changes affecting UK employers. One of the significant talking points from this was the adjustments [...]
What are the 2025/26 tax year rates and allowances?
National Insurance & Tax Tax-free personal allowance - £12,570 Basic rate – 20% - up to £37,700 Higher rate – 40% - from £37,701 to £125,140 Additional rate – 45% - above £125,140 [...]
How to maximise your tax efficiency before tax year end 5 April 2025
Allowable expenses Claim all of your allowable expenses Ensure paid invoices have been recorded – chase those you’re still awaiting payment for Keep receipts 6 years after accounting period ISAs Use your ISA allowance £20,000 [...]
What do you need to know about Business Asset Disposal Relief (BADR)
On closure of a company, retained reserves (net profit after the payment of Corporation Tax) in a company can be distributed as a "capital distribution". The owners of small businesses may be entitled to Business Asset Disposal Relief (BADR) [...]
The Autumn Budget 2024
Forty billion pounds of tax rises represents one of the very largest tax rising Budgets outside of a time of recession, with Rachel Reeves announcing a compendium of changes aimed at businesses and higher tax payers. A penny off [...]
What are the differences between leasing and hire purchase, and how much tax can you expect to pay on electric cars?
Are you running your own Limited Company and considering switching to an electric car? Before taking the leap it’s worth understanding the taxable implications that come with an electric car, and how this can be affected by the final [...]
SG Accounting is FCSA accredited for another year running
Here at SG Accounting we’re delighted to announce that our FCSA accreditation has been renewed for another year. To become an accredited member we annually have to undertake an independent and rigorous assessment of all our business services, operations, [...]
What are your Limited Company director’s responsibilities and key dates throughout the financial year?
Directors of Limited Companies have legal responsibilities, such as filing/submitting various forms and returns to Companies House and HMRC throughout the financial year. If you’re new to contracting you may be unsure as to what needs to be done [...]
How do dividends for Limited Company owners work?
When running your Limited Company, it's important to understand how dividends work in order to maximise your take-home pay and become more tax efficient. Whilst consulting your specialist accountant is recommended for precise guidance, it’s useful to grasp the [...]
2024/25 tax year rates and allowances
National Insurance & Tax Tax-free personal allowance - £12,570 Basic rate – 20% - up to £37,700 Higher rate – 40% - from £37,701 to £125,140 Additional rate – 45% - above £125,140 [...]