Your limited company is able to pay for certain celebrations and festive treats without creating a tax liability. Trivial benefits and staff entertainment are two of the most valuable tax breaks available to limited companies. When used correctly, you’re able to reward both yourself and your employees during the [...]
Whether you’re running your limited company from a dedicated home office space or managing company admin periodically from your kitchen table, it’s important to understand the expenses your limited company can legitimately claim. Get it wrong and you could be missing out on valuable tax relief, or even creating [...]
From time to time, you may find yourself needing to access cash from your limited company. Whether it’s to cover a short-term financial gap, to fund a large purchase, or to help manage an unexpected expense, borrowing from your limited company can appear as a convenient solution. It’s important [...]
From April 2027 there will be big changes to how employers report and pay tax on employee benefits and expenses. The government plans to make the payrolling of most Benefits in Kind (BiKs) mandatory, meaning businesses will need to change the way in which they manage benefits, such as [...]
In the 2026 Autumn Budget, Chancellor John Healey began his speech by calling his first Budget one for the “working people of Britain, for British businesses big and small”. Key announcements from his speech included: For Businesses Business rates relief expanded for retail, hospitality and leisure businesses, with the threshold [...]
Making mistakes in your accounting is easily done, especially when you’re busy running your business, but even the smallest errors can quickly snowball into HMRC penalties, inaccurate financial reports, missed tax relief and ultimately unnecessary stress. In this blog we explore the most common accounting and bookkeeping mistakes we [...]
One of the most effective ways limited company directors can reduce tax, increase take-home pay and build long-term financial security is by optimising their pension contributions. At Vantage Accounting, your Client Director can help you make informed decisions that support your current income needs and future retirement goals. In [...]
Your limited company’s annual accounts are so much more than just a compliance requirement, they’re a detailed snapshot of your business’ overall financial health. Understanding them is important, as it provides clarity on profitability, stability, tax obligations, and long-term growth potential. In this blog we look at each part [...]
Tax codes may feel confusing, especially if you’re new to running your own business or managing payroll. Getting them right first time is essential for staying compliant with HMRC, and ensuring employees are paying the correct amount of tax. In this blog, we explain the UK tax codes for the 2026/27 [...]
With Making Tax Digital (MTD) coming into force 6 April this year, many Sole Traders are having to adapt with the reshaping of how their business manages and reports its finances. This change has left many asking the same question: should I stay as I am, or is now the right time to go limited? Whilst MTD [...]