GSK Accounting

We’re not regular accountants, we’re cool accountants X

One of the simplest ways to stay organised in business?
👉 Have a separate bank account for your business transactions.

If you run a Limited Company, your bank account must be in the company name. If you’re self-employed, it’s not a legal requirement — but it’s still one of the best things you can do for your finances.

Keeping business income and expenses separate from personal spending means:

✔️ Easier bookkeeping
✔️ Simpler tax returns
✔️ Less time spent sorting through personal transactions
✔️ Better visibility of how your business is actually performing
✔️ Cleaner records if HMRC ever ask questions

It also helps with cash flow management. A lot of people see one combined bank balance and assume all the money is available to spend — when in reality, some of it belongs to HMRC.

That’s why I always recommend having a separate “tax pot” account too, where you regularly move money aside for your tax bill and VAT if applicable.

Good financial habits make running your business less stressful, more organised, and much easier to manage as you go.

Your business doesn’t grow by luck… it grows by numbers 📊

When you understand your cash flow, profit margins, and where your money is really going, you make better decisions — faster.

Clarity = confidence
Confidence = growth

If you’re guessing your numbers, you’re slowing your business down. Contact us to find out how we can help you and your business.

🚨 MTD for Income Tax – Key Deadlines You Need to Know 🚨

If you’re self-employed or a landlord, big changes are here with Making Tax Digital (MTD) for Income Tax. Here’s what you need to be ready for 👇

📅 From April 2026
MTD applies if your annual business or property income is over £50,000

📅 From April 2027
MTD applies if your income is over £30,000

📅 From April 2028 (planned)
Threshold expected to drop to £20,000

💻 What does this mean?
You’ll need to:
✔️ Keep digital records
✔️ Submit quarterly updates to HMRC
✔️ File a final year-end declaration

⚠️ No more one tax return per year — it’s a move to real-time reporting.

👷‍♂️ If you’re in construction, CIS, or newly self-employed, this is especially important to get ahead of.

📩 Not sure if this affects you? Drop me a message and I’ll help you get set up properly.

Know your worth—then add tax. In business, the moment you start valuing your time, skills, and vision properly is the moment others do too. Don’t shrink your price to fit someone else’s budget. The right opportunities will rise to meet your standards. 💼✨

YOUR TAX RETURN IS CALLING! 📞📋🚨‼️

Contact us today to get your tax return sorted!

The reality is that without a plan, both can end up costing you more than they should.

April is your opportunity to reset, structure smarter and make sure you’re not overpaying or missing opportunities.

Whether you’re self employed, running a business or just getting started — the difference between guessing and planning could be thousands.

This year, don’t just react to your tax bill… get ahead of it.

Contact us by DM or WhatsApp on 020 3355 6594 💌

Happy Easter from the GSK Accounting team 🐣🍫🤎

Making Tax Digital (MTD) is changing how you report your taxes — but it doesn’t have to be complicated 👇

MTD means keeping digital records and submitting your tax info to HMRC using compatible software instead of manual returns which will actually benefit you!

✔️ Reduces errors
✔️ Keeps your records organised
✔️ Gives you a clearer picture of your finances in real time

Right now, MTD applies to VAT-registered businesses, but it’s expanding to self-employed individuals and landlords from 6 April 2026.

If you’re self-employed or thinking of starting a business, now is the time to get set up properly and stay ahead.

Need help getting MTD-ready? Drop me a message.