The Spring Forecast 2026
In today’s Spring Forecast, Chancellor Rachel Reeves presented the latest economic and fiscal forecast from the Office for Budget Responsibility (OBR), providing an updated outlook for the UK economy. There were no major new tax or spending announcements, in line [...]
What are the key dates throughout the tax year for Limited Company Directors?
As a director of a Limited Company, you're responsible for meeting a range of legal obligations throughout the tax year, such as filing and submitting various forms and returns to HMRC and Companies House. Missing deadlines can potentially lead [...]
What are the 2026/27 tax year rates and allowances?
Income 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 2026
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 announcements were made in the Autumn Budget 2025?
With so much pre-Budget speculation, we were expecting a long wait for the detail - but events moved faster than anyone anticipated. In an unprecedented slip, the Office for Budget Responsibility (OBR) accidentally published its Economic and Fiscal Outlook around [...]
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 Transparency [...]
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 a [...]