Accounting Resources

Thinking of dipping into your company funds? Before you do, make sure you understand how director’s loans really work. This clear, conversational guide explains what a director’s loan is, when it becomes taxable, and how to avoid costly mistakes with HMRC. Packed with real-life examples and practical advice, it’s a must-read for company directors who want to borrow smart — and stay compliant.

Inside IR35 doesn’t have to mean the end of your contracting freedom. In this practical, jargon-free guide, we break down what it really means to be caught inside IR35, how it affects your tax, your rights, and your next contract. With real-life stories, tips on expenses, and actionable advice, this is your go-to resource for surviving and thriving inside IR35.

As of April 2025, furnished holiday lettings (FHLs) no longer benefit from their previous tax advantages and are now taxed like standard residential rental properties in the UK. Landlords can no longer claim upfront capital allowances, and mortgage interest relief is limited to a 20% basic rate tax credit. Pension contributions can’t be deducted from rental income, and the cost of furniture can only be claimed when items are replaced. Capital Gains Tax reliefs, including Business Asset Disposal Relief and rollover relief, have also been withdrawn, potentially increasing tax liabilities when selling a property. These changes significantly impact the profitability of holiday lets and should be factored into future tax planning. Holiday property owners must ensure they’re fully up to date with the new FHL tax rules now in effect.

Working through an umbrella company is common for UK contractors and agency workers, but it’s important to understand how they operate. Let's consider what umbrella companies are, how PAYE and tax compliance work, and what warning signs to watch out for. Stay informed to protect your pay, rights, and avoid unexpected tax liabilities.

Thinking of taking a break from contracting or switching to umbrella work? Learn what it means to make your limited company dormant, why it might be the smarter move than closing it, and what you still need to file to stay compliant. Simple, straight-talking advice for UK contractors and freelancers who want to keep their options open.

Each tax year, UK individuals benefit from a Capital Gains Tax (CGT) annual exemption – a valuable allowance that enables gains up to a certain threshold to be made free of tax. However, with recent reductions in this exemption, it’s more important than ever to make the most of it.

It’s not uncommon for directors of small companies — particularly those with a background in self-employment — to blur the lines between business and personal finances. However, it’s essential to remember that a limited company is a separate legal entity, and treating company funds as a personal wallet can lead to unexpected tax consequences.

Recent developments have brought notable changes to Capital Gains Tax (CGT), with significant shifts in 2024 and more on the horizon. With the Labour government having recently passed a Budget and a Spring Statement on the way, now is a good time to assess where we stand with CGT in early 2025.

In this blog post, we review the recent case of Robson v Revenue and Customs on employment status, highlighting valuable lessons for businesses and contractors engaging in similar arrangements.