AudTax Accountants & Tax Consultants

Everyone needs a holiday -including your accountant.

But if the thought of your bookkeeper/accountant being away for a week or two makes you a little anxious, please don't worry! We've still got you!

When someone manages your numbers, your invoices, and your financial admin, it's natural to wonder: what happens while they're away?

For us, time away doesn't mean your business grinds to a halt. Before any holiday, we make sure everything that needs to be covered is covered: deadlines are noted, urgent tasks are dealt with before we go away or handed over to another member of the team, and clients are told who to contact if something can't wait.

If you've ever worried about continuity of service, or you're currently working with someone whose holiday arrangements feel a bit vague, it might be worth having that conversation.

A good accountant should give you confidence whether they're at their desk or at the beach.

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There are a few expenses that come up specifically this time of year that a lot of business owners either miss entirely or aren't sure about.

Here are some worth knowing:

Staff summer parties

HMRC allows up to £150 per head per year for staff entertaining, and a summer event counts. That includes food, drink, venue, and entertainment, as long as it's open to all employees. Keep the receipts and record it correctly.

Client entertaining

A word of caution here, client entertaining is generally not tax deductible. A lot of people assume it is. It's worth knowing the difference before you put it through the books.

Working from home over the summer

If you work from home and your household costs go up during the summer months (more people at home, higher energy bills), it may be worth revisiting your home office claim.

Training and development

Summer is a popular time for courses, conferences, and up-skilling. If it's directly relevant to your trade, it's likely allowable.

The key with all of this is keeping clear records at the time, not trying to piece it together at year end.

If you want to talk through what you can and can't claim, I'm always happy to help.

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If you provide any benefits to your employees, things like private medical insurance, a company car, or interest-free loans, they need to be reported to HMRC on a P11D form. Every year. By the 6th of July, that's today!

Miss it, and HMRC will notice. Penalties start from the date it was due, not the date you realise.

The tricky part is that "benefits in kind" covers more than most people think. It's not just the obvious perks, even some expenses reimbursements can fall into this category depending on how they're structured.

This is one of those areas where getting it right first time saves a lot of headaches later.

If you're unsure whether you need to submit a P11D drop me a message today. I'll do my best to help.

https://audtax.co.uk

July has a funny way of creeping up. One minute you're in 'just get through this week mode', and the next thing, the schools are breaking up, clients are away, and everyone's asking what your summer plans are.

You're now thinking, actually I don't have any plans!

Business owners are brilliant at pushing through. You're the one who keeps things moving, solves problems, and makes sure the wheels don't fall off.

But here's the catch: if the business only works with you doing all the work, it's not sustainable.

There's one thing every business owner shouldn't be doing themselves and that sorting out their finances!

If you're looking after your accounts yourself and need to free up some time, so that you can finally make those summer plans, let's chat.

https://audtax.co.uk

July. The sun is (allegedly) out, the out-of-office replies are starting to appear, and half the year is already behind us.

It's the point in the year where things can go one of two ways.

Either you glance at where your business is, feel good about the progress, and head into summer with a bit of momentum. Or you realise you've been so busy doing the work that you haven't actually checked in on the numbers since April.

If it's the second one, no judgement. But July is actually a brilliant time to pause and take stock.

There are a couple of key dates to have on your radar this month:

6 July — P11D deadline if you provide benefits to employees.

31 July— Second payment on account due for self-assessment taxpayers.

Beyond the deadlines, the middle of the year is a natural moment to look at how the first half has gone; revenue, costs, cash flow, and make sure you're set up well for the second half.

If you need help getting your numbers in order then reach out today.

https://audtax.co.uk

If you complete a self assessment tax return each year, then please don't forget that your next payment on account is due next month.

Payment on account is HMRC's way of collecting your tax in advance.

If your self-assessment tax bill is over £1,000, HMRC assumes you'll owe a similar amount next year — so they ask you to pay it in two instalments, ahead of time.

- 31st January — first payment (50% of last year's bill)
- 31st July — second payment (another 50%)

So when you pay your January tax bill, you're often paying your actual bill plus the first instalment for the following year. That's why it can feel like such a big hit.

The July payment is coming up fast — and if you haven't been setting money aside, it's going to come as a shock!

If you'd like help setting money aside for your tax bill, reach out today.

https://audtax.co.uk/contact/

Nobody told you when you started a business that the weight of it would sit quite so heavily on your shoulders.

Every decision. Every risk. Every sleepless night running through the what-ifs. It's all on you.

And somewhere along the way, that responsibility quietly stretched into doing everything yourself too. The finances. The admin. The payroll. The compliance. The strategy. The client work.

Because if you want something done properly, you do it yourself. Right?

Here's what the most successful business owners actually figure out — usually after burning themselves out at least once:

Responsibility and workload are not the same thing.

Yes, the decisions are yours. The vision is yours. The risks are yours. That's the deal you signed up for and most days, you wouldn't change it.

But the work? The work can be shared.

Savvy business owners don't succeed because they do everything. They succeed because they're intentional about who they hand things to. They hire the right people for the right jobs. They protect their time for the things only they can do. And they build teams and partnerships that make the whole thing run better than it ever could alone.

Delegation isn't a shortcut. It's a strategy.

The business owners who grow aren't the ones working the hardest. They're the ones working the smartest — surrounding themselves with people they trust, so they can focus on what actually moves the needle.

You don't have to do it all. You just have to make great decisions about who does.

Ready to hire an accountant? Let's chat.

https://audtax.co.uk/contact/

Running payroll yourself might feel like the cheaper option. But have you counted the real cost?

When you're a small business watching every pound, doing payroll in-house seems like an easy saving. How hard can it be?

The answer, for most business owners, is harder than expected.

Payroll isn't just about calculating wages. It's RTI submissions to HMRC, pension auto-enrolment, statutory pay calculations, tax codes, National Insurance, new starter declarations, and keeping up with legislation that changes more often than most people realise.

And when something goes wrong — even something small — the consequences aren't small at all.

A payslip with the wrong deduction. A pension contribution that didn't go through on time. A statutory payment calculated incorrectly. These aren't just admin errors. To the person on the receiving end, they're deeply personal.

Your employees trust you to pay them correctly and on time. Every single time. When that trust is broken, even once, even accidentally, it's hard to rebuild.

Then there's the HMRC side. Late or incorrect RTI submissions can trigger penalties. Missed deadlines add up. And unpicking historic payroll errors takes time and money that far outweighs what you thought you were saving.

Here's the reality:

✅ Professional payroll is often far more affordable than business owners expect
✅ You're paying for accuracy, compliance, and peace of mind — not just someone pressing a button
✅ The cost of one payroll mistake — financially and relationally — can easily exceed months of professional fees
✅ Your time has a value too; every hour spent on payroll is an hour not spent growing your business

Getting payroll right isn't a luxury. It's one of the most important things you can do for your team and your business.

If you've been managing payroll yourself and wondering whether it's worth handing over — let's have a conversation. It might be more straightforward than you think.

https://audtax.co.uk/contact/

Most businesses aren't losing money because of poor sales. They're losing it because of small, silent bookkeeping mistakes.

One mistake I come across a lot is when business owners fail to reconcile their accounts on a frequent basis.

Leaving reconciliation too long means mistakes are harder to unravel. Small discrepancies get missed and grow into bigger problems over time. When they get more difficult, they get ignored, which just makes everything a whole lot worse!

That's why at Audtax we give you options of how often we reconcile your accounts.

If you have lots of transactions we recommend that they are reconciled on a daily basis. That way your accounts are more accurate so that you can make better decisions.

If you keep putting of your bank reconciliation then let's have a chat.

https://audtax.co.uk/contact/