Crossley & Davis
Accountants & Business Advisors
Category: Taxation
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If you’re self-employed, it’s normal to wonder whether you actually need a self-employed accountant, or whether you can manage everything yourself. Some sole traders can handle their own bookkeeping and Self Assessment, especially in the early days. But for many people, working with a self-employed accountant quickly becomes worth it because it saves time, reduces…
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Running a small business comes with plenty of challenges, and dealing with HMRC is usually high on the list. Most business owners aren’t doing anything wrong; they’re simply busy, stretched, or working with outdated systems that make mistakes more likely. Add in tighter government budgets and increased HMRC scrutiny, and the margin for error is…
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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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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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Running a limited company comes with a range of tax benefits – but it’s crucial to know which business expenses you can legitimately claim. Claiming the wrong expenses can lead to HMRC penalties, while missing allowable ones means paying more tax than necessary. In this guide, we explain what expenses are allowable for UK limited…
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Filing your Self-Assessment tax return can be stressful, especially if you’re self-employed or running your own business. Mistakes are easily made but can lead to penalties, unnecessary costs, and headaches. Here’s our guide to the seven most common Self-Assessment mistakes – and how to avoid them! 1. Waiting Until the Last Minute Procrastination leads to…
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As we approach the end of another tax year (5 April), it’s the perfect moment for business owners to take a step back and review their finances. Whether you’re a sole trader, limited company, or somewhere in between, a little proactive planning now can make a big difference later. Here’s why reviewing your numbers before…
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When you’re self-employed, you’re used to doing everything yourself—from marketing to customer service and everything in between. But when it comes to managing your business finances, is hiring an accountant for your self-employed business a smart investment or an unnecessary expense? The truth is, whether you’re just starting out or have been self-employed for years,…
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When it comes to business taxes, misinformation can be costly. Many business owners fall victim to common tax myths, which can lead to unnecessary expenses or missed opportunities for savings. In this article, we’ll break down five common tax myths that could be hurting your bottom line – and what you should do instead. 1.…
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As accountants, we understand that navigating the world of tax deductions can feel overwhelming. However, understanding and using legitimate deductions can significantly reduce your tax bill and help you keep more of your hard-earned money. If you’re looking to maximise your tax deductions, you’re in the right place. At Crossley & Davis, we’re here to…
