Crossley & Davis
Accountants & Business Advisors
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When running a business, bookkeeping is often seen as a chore – something you “have to do” for HMRC. But in reality, good bookkeeping is the backbone of a successful business. Done properly, it can save you stress, money, and even help you make better business decisions. 1. Good bookkeeping = better decisions When your…
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Running a small business comes with many responsibilities – from managing cash flow to meeting tax deadlines. One area that can catch people out is HMRC penalties. These fines can add up quickly if you miss deadlines, make mistakes on returns, or fail to pay what’s due. Understanding how penalties work (and how to avoid…
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Spreadsheets are one of the most common tools used by small businesses to keep track of finances, customers, and day-to-day operations. They’re flexible, low-cost, and most business owners are familiar with them. But there comes a point where spreadsheets start holding your business back rather than helping it. The Limitations of Spreadsheets While spreadsheets are…
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One of the most common areas of confusion we see with business owners is the difference between dividends and a Directors’ Loan Account (DLA). While both can involve money moving between the company and its directors, they are not the same thing and mixing them up can lead to unexpected tax bills and HMRC scrutiny.…
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HMRC has announced an important change to the way mileage rates work for fully electric company cars. From 1 September 2025, the current single advisory rate of 7p per mile will be abolished and replaced with two new rates, reflecting the different costs of charging at home compared to using public chargers. What’s changing? The…
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As summer winds down, many business owners turn their attention to the final quarter of the year – Q4. It’s a crucial period for hitting targets, tidying finances, and making smart tax decisions before the year ends. With a little forward planning, you can close out the year with confidence and get a head start…
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As your business gains momentum, the thrill of new customers, bigger orders, and increased revenue is hard to beat. But scaling up isn’t just about sales, it’s about managing complexity and risk. One of the biggest challenges for growing businesses is staying compliant at every stage. In this post, we’ll walk you through the compliance…
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Keeping accurate financial records is essential for running a successful business. Yet even the most organised business owners can make bookkeeping errors that lead to lost profits, unnecessary tax bills, and cash flow problems. Here are three common bookkeeping errors, and how to avoid them. 1. Mixing Business and Personal Finances The problem:Using the same…
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EVERYTHING LANDLORDS AND SOLE TRADERS NEED TO KNOW TO STAY AHEAD The government’s Making Tax Digital (MTD) initiative is transforming how UK taxpayers manage and report their finances. With major changes due in April 2026, it’s crucial to understand how the rules are evolving – especially if you’re a sole trader or landlord. In this…
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If your business turnover has just nudged over the VAT registration threshold and you’re wondering if you’re too late, don’t panic (yet). But do act fast. Missing your VAT registration deadline can cost you money, time, and a good amount of stress. Here’s what happens, what HMRC expects, and how to fix it if you’re…