No1 Accountants Ltd.

📆 September 2025 – Your Monthly Finance Checklist!

Important updates and deadlines to note:
1 Sept – New Advisory Fuel Rates (AFR) apply for company car users.
1 Sept – Lifelong Learning Entitlement (LLE) student loan applications open.
7 Sept – VAT returns and payments due for quarter ending 30 July.
22 Sept – PAYE, NICs, and CIS electronic remittance deadline.
30 Sept – Corporation Tax returns + Companies House filings due.

📩 Need help keeping things in order?

Let No1 Accountants take care of the deadlines so you can focus on your business.

Limited Company? You Might Be Missing the Basics Without Even Knowing It

Yesterday, two different cases reminded me how often company owners are unaware of what’s happening behind the scenes of their own business.

In one case, the director of the company didn’t own any shares, yet was marked as the Person with Significant Control (PSC). Meanwhile, someone else had a single £1 share. Despite this, the non-shareholder was receiving dividends. If you're not a shareholder, you shouldn't be getting dividends. So how is that possible?

In another case, the company’s accounting year had been shortened twice. First by a full year, then again by a single day. These are not standard adjustments. When we see these things, we know something’s off.

These may seem like minor admin issues, but they’re red flags. And unfortunately, they often indicate a much deeper problem: a lack of proper oversight and an accountant who’s not really doing their job.

If you’re not sure whether your company setup is correct or if something’s been overlooked, we’re happy to take a look.

Feel like your company admin could use a sanity check? Drop us a message and we’ll help you make sense of it.

Orsi spoke with a self-employed tradesperson recently who had been running everything from one bank account. Personal bills, tools, shopping, income, fuel, groceries, all mixed together.

When it came to tax time, it was a mess. He couldn’t remember what was what, his accountant kept chasing him for explanations, and they still couldn’t sort everything clearly. It took time, energy, and in the end, they likely missed out on some legitimate business expenses too.

If you're self-employed, one of the best things you can do is open a separate bank account for your business. It does not need to be a business account. Just a second personal account where only your business income and business related expenses go.

It might feel like a small step, but it makes a huge difference. Especially with Making Tax Digital being rolled out for self-employed people too. If your business and personal finances are mixed, it creates more work, more questions, and more chances for mistakes.

Here is how to get started:
1. Open a second bank account
2. Use it only for business-related income and expenses
3. Keep personal spending in your original account
This simple change will help you stay in control, save time, and avoid stress later.

Let us know in the comments if you’ve already made this switch or if you’re still thinking about it. If you want help setting things up properly, send us a message and we’ll be happy to talk.

🌞 Your July 2025 Financial Checklist is Here!

This month’s key dates to keep in mind:

5 July – Final day to agree PAYE Settlement Agreements (PSAs) for 2024/25.
6 July – Deadline for beneficial loan elections and issuing P11d documents.
7 July – VAT returns and payments due for the quarter ending 31 May.
22 July – PAYE, NICs, CIS, and Class 1A NIC remittance deadline.
31 July – Deadline to file with Companies House, pay second Self-Assessment instalment, and submit Corporation Tax returns.

📩 Need help staying ahead? Get in touch with No1 Accountants, we’ll make sure nothing slips through the cracks.

Being a Company Director in the UK: Clarity Is Not Optional

Whether you’re a solo director or co-running a business with others, the responsibilities of a director in a limited company are non-negotiable. But how those responsibilities are carried out that’s where clarity makes or breaks the business.

Solo Directors: Wearing Every Hat
For many start-up businesses the company has just one director. In this case, that individual holds every responsibility from marketing and operations to sales, customer service and finance.

This structure isn’t inherently flawed. But what often goes wrong is the lack of prioritisation and absence of boundaries. Directors in this position must actively track their decisions, understand their tax and legal responsibilities and ensure they’re not just doing tasks but thinking like a business owner.

Multiple Directors: Clarity Before Collaboration
In multi-director companies, the risks shift. It’s not about doing everything it’s about doing what you’re supposed to do.
That requires one thing most businesses ignore: clearly defined roles and responsibilities.
Yes, directors can wear multiple hats, but without written alignment, overlap becomes interference.

Here’s where problems start with some real-life examples:
– One director is responsible for marketing but the finance director criticises campaigns and overrides spend.
– One is in charge of vendor relationships but another bypasses agreements and renegotiates without discussion.
– One signs off a £50 client gift but the other director pushes back only after it’s already bought.

These aren’t strategy decisions. These are fractures in structure. These moments may seem minor, but they lay the groundwork for deeper disagreements. The lack of boundaries today becomes conflict tomorrow.

If you don’t address these early, partnerships break down. Companies drift. And trust erodes. Misalignment between vision and ex*****on leads to silent resentment then open separation.

Establish Ground Rules:
– What decisions can each director make independently?
– What must be approved collectively?
– Who handles banking? Who manages suppliers? Who signs off on hiring, on marketing spend, on capital purchases?

Write it down. Agree to it. Follow it.

The Financial Footprint Never Lies
As accountants, we often see role confusion in the numbers:
– One director’s spending habits drastically outweigh the other’s.
– Reimbursements aren’t clear or evenly tracked.
– Budget allocations are undefined, causing resentment.
Your bank statement tells the story and when that story reveals chaos, it’s usually already too late.

Great Companies Run on Structure
You don’t need bureaucracy. But you do need accountability. Define it. Communicate it. And revisit it as the business grows. Clarity is the real time-saver. Alignment is the real peacekeeper.

Because when directors compete instead of collaborate, leadership collapses and eventually everyone pays the price.

Been there? Drop a comment below (don't worry we’ve seen it all!)

We’re not for everyone and we don’t try to be.
After working with a wide range of businesses, we’ve learned exactly who we do our best work with and who we don’t.

Who is not a fit for us:
– Business owners who say, “I don’t want to pay tax,” or, “I just won’t report my cash income”
– Founders with no clear plan: no launch date, no budget, no investment strategy
– Those who ghost communication: no replies, no follow-through, no accountability
– Anyone who starts the first conversation asking for a discount
– People who say, “You’re too expensive,” while expecting results without commitment

We’re not the cheapest and we don’t try to be.
We don’t discount our time, our expertise or our standards.
We know the value we bring and we work with clients who see it too.

Who is a fit for us:
– Business owners who want structure, forward planning and full financial visibility
– Clients who want regular updates, clarity around tax and strategic support
– Founders who want a partner not a silent accountant who only files paperwork
– People who treat communication as a priority not an inconvenience
- Owners who want a clear path to growth

We don’t just do numbers; we help build stronger businesses.
And that only works if both sides show up with the same level of commitment.

If you’re looking for that kind of relationship with your accountant, well we’re here.
[email protected]

You’re not an accountant. And you don’t need to be.
But if your accountant isn’t asking questions, you’re the one paying for it.

In the first half of 2025, 19 different business owners approached us to review their accounting.
The common thread was a complete lack of communication between the accountant and the business owner.

One new client received a Corporation Tax bill of £16,521 for the previous year from their former accountant.
We reviewed the accounts in detail and reduced the total to £4,319, all within legal frameworks.

Where did the difference come from?

The accountant only looked at the bank account.
The business owner made assumptions.
The result was inaccurate accounting, missed expenses and unnecessary tax payments.

Real examples from real businesses:

Personal payment for rent:
With startups, it’s common that the business account doesn’t yet have sufficient funds.
One client paid £7,200 upfront for six months of retail space from their personal account.
That’s a legitimate business expense, but because the accountant never asked, it was left out.

Apple Pay linked to the wrong card:
Another client bought supplies in-store and paid quickly using Apple Pay.
Their personal card was set as default.
The transaction never appeared in the business account, so it was never included in the accounts.

Electricity top-up paid personally:
The office used a prepaid electricity card.
While shopping, the client added credit to the electricity card but paid for the entire receipt, including snacks, from a personal account.
Only part of that purchase was a business expense, but it was never separated or recorded.

Missing fixed assets:
One company had only three assets on record when in fact they used 26.
No review meant thousands of pounds in depreciation and asset value were left out.

Several clients had VAT claimed on non-VAT items, for example TFL tickets in London.
The entire VAT return had to be redone because this is simply not allowed.

Payroll was not included in financial planning:
Yes, salaries were paid, but nothing was mapped into the annual budget.
You need to know
– who is on payroll
– who is employed
– what each employee earns
– what the director earns
– how much dividend is taken and how often
If these are not planned in advance, the owner believes the business is profitable while in fact it may be operating at a loss.

VAT return without full documentation:
The client received only the first page. They signed it, and later found out they owed £6,000.
The remaining documentation was never attached. This is not how professional service should work.

Here is how we operate differently:

We ask, not just record
We include expenses paid from personal funds
We use Xero so our clients can view their numbers in real time
We meet monthly if needed
From the very beginning, we study how the business operates and continue working proactively

Accounting is not administration. Accounting is strategy.

We are currently offering a full accounting review at no charge for three businesses.
This will help you see if your accountant is doing the job properly or simply entering numbers.

If this sounds like something you need, send us a message.

No1 Accountants

Half of 2025 is already gone. The real question is: do you know where your business stands?

Over the past few months, we've spoken with dozens of new and potential clients.
One thing kept coming up across the board:

The complete lack of communication between the business owner and the accountant.

Here’s what we keep seeing:

– Tax returns prepared without collecting all the necessary documentation
– No forward planning, just after-the-fact data entry
– Business owners being told what they owe at the last minute
– Missed deadlines, lost information
– No understanding of why they owe that much tax
– Revenue estimates off by tens of thousands compared to actuals
– Questions asked, but replies delayed for weeks – even months

This isn’t accounting. This is risk.

And risk costs money.

- One client overpaid £8,274 because their previous accountant didn’t communicate key steps
- Another company failed to enrol employees in Work Place Pension – a legal requirement. We fixed it, retroactively, for one full year
- One director paid themselves a high salary instead of taking dividends – paying 20% tax instead of 8%. That’s your money gone
- VAT was charged on items that aren’t even VAT-applicable (like TFL tickets). We had to redo the full return
- Mileage wasn’t even claimed – we handled that too
just to mention a few...

We don’t just manage data. We plan ahead.

Communication isn’t an extra for us. It’s how we operate.

– We’re reachable via phone, email and WhatsApp
– We respond within 48 hours
– From day one, we build a system with minimum three strategic meetings per year:
– annual planning
– mid-year review
– year-end tax forecasting
– And for those who need it: monthly meetings to go through your numbers

Because numbers don’t lie. They have no emotions.
They simply tell you exactly where your business stands.

If you’re not clear where your business is today,
you’re not in control. You’re just carrying the “director” title.

If you have a question about your accounting, message us.

"They’re shutting down my company... but why?"
– The £34 mistake that could cost you everything

A prospective client called us, visibly shaken.
They’d just received an official notice from Companies House: their company was being struck off the register. And they had no idea why.

We looked into it. The reason?
Simple. Common. Avoidable.
They didn’t file their Confirmation Statement.

What is that, exactly?
It’s an annual legal filing required from every UK registered company. You’re confirming whether anything has changed – ownership, shares, company details – or that nothing has changed at all.

And the cost of compliance?
£34. That’s it. It’s called the Confirmation Statement Filing Fee.

And yet – if this document isn’t submitted – Companies House will issue multiple reminders. If your company has an account (which is free), those warnings even arrive by email.

Still don’t submit it?
Within two months, they begin the strike-off process.
Four months later, your company could be gone. For good.

You could be profitable.
You could be growing.
But fail this one administrative obligation… and the system erases you.

So how do you prevent it?
System. Discipline. Automation.

At No1 Accountants, this isn’t something we "offer". It’s standard.
Every deadline tracked. Every document filed. Every client covered.
No surprises. No “I forgot.” No excuses.

We file Confirmation Statements on time, every time – after double-checking the data, confirming any updates with you, and submitting it directly to Companies House.

You pay only the £34 Confirmation Statement Filing Fee if you are our client – and only after it’s accepted.

This isn’t about paperwork.
This is about protecting what you’ve built.

Companies don’t fail for lack of growth.
They fail from lack of operational discipline.

If you’re unsure about your company’s Confirmation Statement status, or want this problem permanently solved, message us directly at [email protected].

🎉 Start the New Year on the Right Financial Foot! 🌟

January is packed with important tax deadlines:
• Jan 1: VAT now applicable at 20% on all chargeable education services.
• Jan 7: VAT returns and payments due.
• Jan 20: Deadline for VAT MOSS return and payment.
• Jan 22: Remittance deadline for PAYE, NICs, and CIS.
• Jan 31: Multiple deadlines! Self-Assessment payments, tax returns, Companies House filings, and Corporation Tax returns.

📞 Need help managing these deadlines? Contact No1 Accountants! Let’s make sure your 2025 starts smoothly.

🎄 A heartfelt thank you to everyone who has been part of our journey this year! Wishing you a magical Christmas and a New Year filled with joy and success. Here’s to a wonderful 2025 together! 🌟