If you’re asking yourself “how can I find my accounts office reference number?”, you’re not alone. As a UK-based accountant and tax advisor, I’ve worked with countless employers, and this is one of the most common payroll-related questions I receive. Whether you’re managing payroll for the first time or reviewing your existing PAYE records, understanding […]
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A bonus payment in the UK counts as part of your taxable income and is processed through PAYE (Pay As You Earn) like your regular salary. The tax you pay on your bonus depends on your income tax rate-20% for basic, 40% for higher, and 45% for additional rate taxpayers, plus National Insurance contributions (NICs).
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Budgeting is a financial planning method used by UK businesses to forecast income, control expenditure, and allocate resources across operational departments. A budget with fixed targets, rigid variance thresholds, or outdated cost assumptions often restricts responsiveness to real-time market conditions, HMRC tax changes, and cash-flow volatility. Modern SMEs require budgeting techniques with adaptive forecasting, scenario
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Micro company accounts are the simplified statutory financial statements filed by Micro Entities in the UK, designed for small businesses with limited turnover, assets, and employees. These accounts include a balance sheet, profit and loss statement, and notes that summarise key financial figures such as revenue, net profit, liabilities, and shareholder equity. Reading micro company
Micro Company Accounts Made Easy | Learn How to Read Them Like a Pro Read More »
As someone actively advising UK businesses on tax matters, one of the most common queries I receive is about VAT on digital products and services. With the rise in online sales, streaming platforms, software subscriptions, and downloadable content, it’s more important than ever to understand how VAT applies to these digital transactions. This article is
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Are you a YouTuber based in the UK or planning to launch your own channel soon? If yes, understanding the VAT on YouTube Income is absolutely essential to stay compliant with HMRC and avoid unexpected liabilities. In this comprehensive guide, I’ll walk you through everything you need to know about tax, specifically VAT, on your
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If you’ve ever offered money or goods to a charity, local club, or community project, you’ve likely wondered: Can I reclaim VAT on sponsorship? As a qualified tax advisor in the UK, I’ve helped countless businesses understand how VAT on sponsorship works, especially after HMRC’s updated guidance. And I know—it can feel confusing at first.
VAT on Sponsorship: What You Need to Know in 2025 Read More »
A VAT number (Value Added Tax registration number) is a unique identifier issued by HM Revenue & Customs (HMRC) to every VAT-registered business in the UK. Verifying this number is essential when dealing with suppliers, contractors, or partners, as it ensures the business is legally registered to charge VAT and allows you to reclaim input
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VAT on shipping costs refers to how the UK’s Value Added Tax rules apply to delivery, postage, and courier fees charged to customers. Under HMRC guidance (VAT Notice 700/24), VAT treatment depends on whether the shipping is part of a taxable supply or charged as a separate disbursement. Retailers and service providers who include delivery
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The VAT relationship between the UK and Belgium continues to present challenges and obligations for businesses operating across borders—especially after Brexit. Whether you’re exporting goods, importing from Belgium, or providing services, understanding the latest VAT rules is critical for compliance and cost-efficiency. In this guide, we explain how VAT works between the UK and Belgium
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