Self Assessment made simple: a friendly guide for first-timers
Author: Phillips & Co Accountants, Chester Date: 25 September, 2025 Self Assessment can feel intimidating the first time you do it. Good news: it’s just a series of small steps. Below we explain the process two ways—first for a sole trader, and then for someone...VAT Direct Debit not taken? When a missing HMRC letter can be a “reasonable excuse” — and what to do next
Author: Phillips & Co Accountants, Chester Date: 16 September, 2025 If HMRC doesn’t collect your VAT Direct Debit after you’ve filed a return, panic is understandable. In some cases HMRC has cancelled the DD (for example, when moving a business onto payments on...
Trading and Property Allowances
The 2023/24 tax year presents valuable opportunities for small businesses and property owners to reduce their tax liabilities through the Trading and Property Allowances.
Cash Accounting Becomes the Default for Sole Traders
As of 2024, a significant change has been implemented in the way you manage your accounting: cash accounting is now the default method for your business.
Are You Missing Out on a Tax Refund?
It’s a question that likely pops into every UK employee’s mind at some point: “Am I paying the right amount of tax?” This blog will delve into what is often an overlooked subject, and explain what tax codes are, how they work, and how a simple check could mean a nice tax refund.