Making Tax Digital (MTD) is on it’s way, so now is the time to ensure you understand what’s on the horizon, what you need to do, and how the Vantage Accounting team are ensuring everything is ready. In this blog we take a closer look at what MTD actually is, [...]
Chancellor of the Exchequer, Rachel Reeves, held the Spring Statement on Wednesday 26 March 2025. In the run up to the event, the Chancellor stated that she ‘remains committed to one major fiscal event a year to give families and businesses stability and certainty on upcoming tax and spending [...]
For many business owners, there will come a time when you want to close your company for one reason or another. But until that point, you likely won’t have thought much about the process or have much knowledge on how to be most tax efficient when closing your company. [...]
When running your business you’ll 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 unnecessary stress. If you’re new to the world of running your own business, [...]
Double cab pick-ups will be classed as cars from 6 April 2025 for Capital Allowances, Benefits in Kind (BiK), and some deductions from business profits. What is a Double Cab Pick-Up? (DCPU) A DCPU is defined as a pick-up truck that has a cabin with four doors, and two rows [...]
Understanding the 2025/26 Changes to Employers 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 to Employers National Insurance Contributions. The changes have [...]
National Insurance and 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 National Insurance Rates Primary threshold - £12,570 [...]
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 Trivial benefits - As a director of a limited company, you can receive up to £300 [...]
A Decade of Partnership and Progress Having been a Xero Partner since 2012, we are proud to announce that we have now reached Platinum Partner status, the highest accolade we can ask for when it come to expertise in working with clients using Xero Accounting Software. What Platinum Partner Status [...]
Understanding S455 Tax on Director’s Loans As a Limited Company director there may be times when you have to lend your company money, which will usually not result in any tax implications. So what happens when you personally need to borrow money? In this blog we take a closer look [...]