Practical explanations of the numbers that run a small business, written in plain English with worked examples.
Why company profit, distributable reserves and the cash you can take personally are three different numbers, and what happens if you take too much.
Read the article →Corporation Tax is usually payable nine months and a day after year end, three months before the return is due. Why that catches directors out.
Read the article →What a Director's Loan Account is, when it becomes overdrawn, and the Section 455 and benefit-in-kind consequences that can follow.
Read the article →Why the January tax bill catches people out, how payments on account can add half again, and the simple habit that prevents it.
Read the article →The 5 October notification deadline most people have never heard of, who needs to file, and what happens if you have already missed it.
Read the article →The £90,000 VAT threshold is measured on a rolling 12 months, not your accounting year. How to check properly and what late registration costs.
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