Knowledge
Centre

Is It Time to Electrify Your Double Cab Pickups?

Understanding the Changing Tax Landscape Current Tax Benefits: A Favorable Position Double cab pickups are the backbone of the construction industry, serving as both reliable haulers for equipment and convenient transportation for workers and their families. Yet, looming changes in tax regulations could reshape the landscape for these indispensable vehicles. The Impact of Tax Changes […]

HMRC Time To Pay Arrangements

Navigating HMRC Time to Pay Arrangements: A Lifeline for UK Businesses In the complex world of business finance, one of the challenges UK businesses often face is managing their tax obligations effectively. The HM Revenue and Customs (HMRC) understands that businesses sometimes encounter cash flow difficulties, making it hard to pay their tax bills on […]

Are You in the Crosshairs of the Associated Company Tax Rates?

We’re back with another blog post and this time we’re diving into a topic that isn’t everyone’s cup of tea – taxes. But don’t worry, we’re here to make it as enjoyable and straightforward as possible. Strap in and let’s demystify the new corporation tax rules together. What are the changes? As of April 1st, […]

Mini Budget 2022

Last week, as part of the mini-budget, the government began announcing help for small businesses. This blog gives you the details of what matters and how this could impact your business. At a top level, the mini-budget, the government’s Growth Plan and announcements on energy caps are very good news for small businesses. Excuse the […]

New National Insurance threshold comes into effect from 6th July 2022

Back in his Spring Statement in March of 2022, then Chancellor Rishi Sunak announced significant changes to National Insurance. The first of which came into effect in April when NI contributions were raised from 12% to 13.25%. What is changing in July? This month sees some respite however with the implementation of Sunak’s second change; […]

Did your pregnancy affect your claim?

Ask HMRC to verify you had a new child which affected your eligibility for the self-employed income support scheme.  If you are self-employed or a member of a partnership, and having a new child affected the trading profits or total income you reported for the tax year 2018 to 2019, use the HMRC form to […]

Is your van actually a car? – The answer may surprise you.

“Should I buy a car or a van” is a question we frequently get asked at 1 Accounts. Our recommendation is usually van. This is because you can claim back the VAT and the taxable benefit in kind is usually much less than a car (unless electric). As the benefits of buying a van outweigh […]

Business Bounce Back Loans

Business Bounce Back Loans – what are they and should you apply for one? Since the scheme launched in May 2020 (just 3 months ago), more than 860,000 bounce back loans have been issued. This means that thousands of small businesses who are struggling due to the coronavirus have applied for and received financial help; […]

Have you got a government gateway?

The help and advice that is available from the Government is forever changing. This is the latest update we have on how to apply for the self-employed grant.  For those who are eligible, you will receive an EMAIL, not a letter as we had thought. Be aware that there are lots of phishing emails out […]

Capital Gains rules are changing!

Capital Gains rules are changing! If you are a property investor or “accidental” landlord this is the blog for you. From the 6th of April 2020 the changes to Capital Gains tax rules will affect the sale of second homes and rental properties. . Capital Gains Tax Capital Gains Tax is paid at the following […]

Check Out Our Latest Blog

Essential Financial Tips for Start-Up Businesses: Setting Up for Success

Essential Financial Tips for Start-Up Businesses: Setting Up for Success Starting a business is an exciting journey filled with potential and opportunity. However, one of the most critical aspects of ensuring your start-up’s success is having solid financial foundations. Here at 1 Accounts, we understand the unique challenges faced by UK entrepreneurs. This blog will […]