Year End Accounts Checklist: Hidden Tax Mistakes Costing UK SMEs Thousands
We get asked a lot of questions by our clients, around the subject of Year End Accounts so this article is designed to help. Missing your year end accounts deadline can result in automatic penalties starting at £150, which increase based on how late you file. These might seem like relatively small amounts initially, but […]
The Plain-English Guide to Limited Company Tax Returns (2025 Rules)
Company Tax Returns or Corporation Tax is a key responsibility for limited companies, and we often advise clients on how to manage it effectively. Since April 2023, the main tax rate stands at 25% for profits over £250,000, while smaller companies with profits under £50,000 pay 19%. Businesses between these figures may qualify f6 aprilor […]
How to Choose an Accountant in Surrey and Sussex: Expert Guide for Business Owners (2025)
How do you find an accountant who truly values your business and becomes a genuine partner in your success? Too many business owners tell us they only hear from their accountants once a year when it is time to file their tax returns. Others complain about receiving little proactive advice or feeling like their accountant shows minimal […]
Bookkeeping Basics: A No-Nonsense Guide for UK Business Owners (2025)
Bookkeeping sits at the heart of every successful UK business. Without proper bookkeeping, your business’s financial function simply cannot work effectively. Yet while many business owners start by handling the books themselves, this approach often becomes difficult to manage as the business grows, and mistakes become costly. At Smart Accountants Sussex and Surrey, we’ve seen […]
How Does Self Assessment Work?
This is one of the questions we are asked most often by clients who are starting a business, so we thought a plain English guide would be helpful! Every year, more than 660,000 people in the UK start their own business. If you’re one of them, understanding how Self Assessment works is essential for your […]
Making Tax Digital: Your Guide to the 2025/2026 Changes
This is one of the most significant changes to tax reporting that we have seen in decades. The way self-employed people manage their tax affairs is about to change dramatically with the introduction of Making Tax Digital (MTD). From April 2026, self-employed individuals with an income over £50,000 will need to use digital systems for […]
What Are The Costs Associated With Running A Business And Can I Recover Them All?
Introduction This is one of the questions we are asked most often by our clients so we thought it would be a useful topic for a blog! Managing business expenses is crucial for the financial health and sustainability of any company. Allowable business expenses are typically those incurred wholly, exclusively, and necessarily in the performance […]
Choosing Between Sole Trader And Limited Company: A Guide For Entrepreneurs in England and Wales
Starting a business is a significant decision, and one of the first choices you’ll face is deciding on the business structure. In England and Wales, the most common forms of business entities are sole traders and limited companies. Your decision as to which route to take is important as it will impact everything from personal […]
The Essentials To Consider When Starting A Company In England and Wales
Starting a company can present both opportunities and challenges. The excitement of bringing your vision to life is often tempered by the daunting task of planning every detail meticulously. However, proper preparation is crucial when starting a business. From securing funding (if needed) to managing finances and ensuring compliance, a well-thought-out plan can make the […]