Knowledge Keep up to date with the latest in accounting amendments & requirements

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Welcome to our Knowledge Base

Here you will find lots of useful information relating to HMRC guidelines and the latest in guidance.

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Could you save tax by making a Deed of Variation?

Could you save tax by making a Deed of Variation?

After someone dies, the beneficiaries may find that the way an estate has been distributed does not reflect their wishes or the family’s circumstances. A Deed of Variation can allow beneficiaries to

Will your next finance application succeed?

Will your next finance application succeed?

Many successful businesses eventually reach a point where additional finance is needed. Whether the objective is purchasing equipment, expanding premises, recruiting staff or improving cash flow,

Five practical ways to reduce business energy costs

Five practical ways to reduce business energy costs

Energy costs remain a significant overhead for many UK businesses. Although wholesale prices have eased from the exceptional highs seen in recent years, uncertainty in global energy markets means

Making the most of the Employment Allowance

Making the most of the Employment Allowance

The Employment Allowance can help eligible employers reduce their National Insurance costs by up to £10,500 each tax year. The allowance reduces an employer’s Class 1 National Insurance liability and

Records you should keep after submitting your tax return

Records you should keep after submitting your tax return

After submitting your self-assessment return it is important to keep your records used to prepare the return. HMRC may ask to check your return, so it is important to keep the supporting documents and

Tax relief if replacing tools or equipment

Tax relief if replacing tools or equipment

If you pay for replacing or repairing small tools you need for your job, you may be able to claim tax relief from HMRC. Eligible tools include items such as scissors, small hand tools and electric

Budget date announced

Budget date announced

The new Chancellor of the Exchequer, John Healey has confirmed, in a video message, that the next UK Budget will take place on Wednesday, 28 October 2026. Details of all the Budget announcements will

Are you paying unnecessary tax on foreign income?

Are you paying unnecessary tax on foreign income?

UK taxpayers with income from overseas may not always be aware of the tax rules that apply. Foreign income is defined as any income from outside England, Scotland, Wales and Northern Ireland. The

Averaging profits if income fluctuates

Averaging profits if income fluctuates

Some self-employed individuals experience significant fluctuations in their profits from one year to the next. When this happens, HMRC’s averaging relief may help to regularise tax payments by

Claiming the correct tax relief for work mileage

Claiming the correct tax relief for work mileage

Employees who use their own vehicle for business journeys may receive Mileage Allowance Payments (MAPs) from their employer. These payments can be made tax-free up to HMRC’s approved amount,

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