Elite Virtual Bookkeeping Ltd

Limited company directors, did you know your business may be able to pay for a cleaner? 🧹💷

Whether it’s for your office or your home makes a BIG difference when it comes to tax 👀 Save this one for later!

Limited company director? 👀 Taking money from your company isn’t always as simple as transferring it to yourself.

Your Director’s Loan Account can have tax implications if it becomes overdrawn — and there are important deadlines and limits to be aware of.

⏰ Don’t forget! Your 31 July HMRC payment on account deadline is almost here.

This payment is the second payment on account for the 2025/26 tax year. Missing the deadline could mean interest and late payment charges, so it’s worth checking what you owe now rather than leaving it until the last minute.

Not every VAT-registered business should join the VAT Flat Rate Scheme—but for the right business, it can save a significant amount of money.

The Flat Rate Scheme allows eligible businesses to pay HMRC a fixed percentage of their VAT-inclusive turnover instead of accounting for VAT in the usual way. Whether it’s beneficial depends on factors such as your industry, your turnover, and how much VAT you reclaim on your purchases.

In this case, HMRC removed my client from the scheme because they believed the business had exceeded the turnover limit. We knew that wasn’t correct because we regularly review our clients’ numbers through our quarterly business reviews. We appealed the decision, HMRC agreed, and our client was reinstated onto the scheme—allowing them to continue benefiting from it.

Every business is different, so don’t assume the Flat Rate Scheme is right (or wrong) for you. A quick review with your accountant could make a big difference to how much VAT you pay.

Know a business owner who needs an accountant? Refer them to us and you’ll both receive £50 off when they sign up. They just need to mention your name! 💷

These are some of my favourite tax-saving claims for UK limited companies, but every business is different. 😊

Always speak to your accountant before claiming anything, as there are specific HMRC rules and conditions that need to be met.

If you run an interior design business through a limited company, make sure you’re not missing out on expenses and tax reliefs you could be claiming. Every pound you claim correctly can help reduce your tax bill. 💡

Own a property rental limited company? 🏡 Make sure you’re not missing out on allowable business expenses that could reduce your tax bill. Save this for later if you’re a new business owner!

One of the biggest surprises for new limited company owners is that there isn’t just one tax bill to think about. Depending on your business, you could have Corporation Tax, VAT, payroll taxes, and even dividend tax to plan for.

Understanding what you need to pay—and when—can save you from unexpected bills and costly penalties. That’s exactly where a good accountant can help.

🚲 Did you know you can claim 20p per business mile when using your own bicycle for work? It’s one of those tax reliefs many business owners don’t realise exists. Every allowable expense adds up, so make sure you’re not missing out! 💷