Maximising Tax savings by having a tax efficient salary and dividends strategy : A directors salary remains a tax efficient way to extract income from a limited company for most directors, accompanied by dividends . Whether a directors salary is the right choice, and at what level, will depend on your individual circumstances, it is therefore highly recommended to speak to an accountant or tax advisor to ensure you are set up in the best way for you! Assuming a director has o

Important dates and deadlines The UK tax year for individuals runs from 6th April - 5th April each year, with the deadline always the following 31st January. For the 26/27 tax year, this will cover personal income between 6th April 26 - 5th April 27 with a filing deadline of 31st January 2028. Personal allowance The personal allowance remains at £12,570 for the 26/27 tax year, including Scotland, England, Northern Ireland and Wales. This means that the first £12,570 you earn

Check if you need to file a self-assessment with HMRC for the 25/26 tax year.

What are dividends? Dividends are a type of income received from a limited companies profits, to its shareholders. Most small business owners, who run a limited company, will take their income in a tax efficient way, which is a mixture of directors salary and dividend income. You may also receive dividends from investments throughout the year, such as a Stocks and Shares portfolio. How much can I take and how often can I take dividends? The amount of dividends you take from a

What is Making Tax Digital? Making Tax Digital (MTD) is an initiative from HMRC to move all tax administration online and will gradually become mandatory for all individuals and businesses. MTD was introduced for VAT-registered businesses with taxable turnover above the VAT threshold (£85,000) in April 2019 and expanded to all VAT-registered businesses regardless of turnover in April 2022. The next phase is Making Tax Digital for Income Tax Self Assessment: From April 2026 ,

The Budget 2025 has been announced, but what does that mean for Small business Owners and Individuals - lets explore the key take aways : Sole Traders, Partnerships and Individuals Income tax thresholds and bands frozen (and continue to be frozen until April 2031) Income tax rates on dividend income rise from 8.75% to 10.75% (basic rate) and from 33.75% to 35.75% (higher rate); additional rate remains 39.35% Confirmation of the introduction of Making Tax Digital for Income Ta

From February 1st 2026, Companies House fees will be increasing a number of its statutory fees. These changes are part of a broader effort to modernise the platform, introduce new functionality and strengthen compliance with stricter regulatory frameworks. Here are some of the key fee increases: Digital voluntary strike-off fee: Decreasing from £33 to £13 Authorised Corporate Service Provider (ACSP) registration fee: Increasing from £55 to £63 Company formation fee: Increas

Check if you need to file a self-assessment with HMRC for the 24/25 tax year.

Maximising Tax savings by having a tax efficient salary and dividends strategy : It is more crucial than ever to have a clear plan in...

As we approach the end of the tax year, now is a good time to get your finances in order and make sure you have taken all necessary steps...

Important dates and deadlines The UK tax year for individuals runs from 6th April - 5th April each year, with the deadline always the...

What are dividends? Dividends are a type of income received from a limited companies profits, to its shareholders. Most small business...

The Budget 2024 has been announced, but what does that mean for Small business Owners and Individuals - lets explore the key take aways...

Check if you need to file a self-assessment with HMRC for the 23/24 tax year.

Guide to the child benefit changes reported by HMRC.

Simple guide to dividend tax rates

This guide is for Sole Traders to understand their tax and national insurance rates.

As we approach the end of the tax year, now is a good time to get your finances in order and make sure you have taken all necessary steps...