ATF Accountancy

Making Tax Digital for Income Tax is coming, and it changes how sole traders and landlords report to HMRC.

If it applies to you, it means:
- Keeping digital records, not a shoebox of receipts
- Quarterly updates to HMRC, not one annual scramble
- Compatible software doing the heavy lifting

The businesses that move early find it a relief, not a burden. The quarterly rhythm actually makes the numbers clearer all year.

Not sure if it applies to you, or when? Book a free discovery call - 01603 669 020 or [email protected].

We are over halfway through the year. When did you last actually look at where your business stands?

A mid-year review is the cheapest course-correction you will get:

- Are you on track against the targets you set in January?
- Is your tax position what you expected, with no surprises building?
- Is cash flow comfortable for the months ahead?
- Are there reliefs or decisions worth acting on before year end, not after?

Leaving it all to year end means finding out when it is too late to change much. A check now still leaves room to act.

Want a clear read on where you stand? Book a free discovery call - 01603 669 020 or [email protected]. Let's make your business work for you.

Here is an area company directors often overlook: paying pension contributions straight from the company.

Why it is worth a look:

- Employer pension contributions are usually an allowable business expense, reducing your corporation tax
- They sit outside the salary-versus-dividend question, so they do not eat into your dividend planning
- Annual limits apply, and the timing around your year end matters
- It moves profit into a tax-advantaged pension rather than leaving it exposed

Used well, it is one of the more efficient ways to take value out of a profitable company - and build for later at the same time.

Want to factor pensions into your planning? Call 01603 669 020 or email [email protected].

Sole trader or limited company? It is one of the most common questions we are asked - and the answer is not always 'go limited'.

A few things that actually move the decision:

- Profit level: above a certain point a limited company can be more tax-efficient, but not always
- Liability: a limited company is a separate legal entity, which can protect your personal assets
- Admin: a company means more filing, more responsibility and more rules to follow
- Credibility and plans: some clients and lenders prefer to deal with a company

There is no universally right answer - only the right one for your numbers and your goals.

Wondering which structure fits you? Call 01603 669 020 or email [email protected].

A quick reminder for anyone in Self Assessment: your second payment on account is due by 31 July.

What that means:

- Payments on account are advance instalments towards next year's tax bill, based on your last return
- The first was due in January, the second is due now, by 31 July
- If your income has fallen, you may be able to reduce the payment - but reduce it wrongly and HMRC can charge interest
- Miss the date and interest starts to build straight away

A few minutes now beats a penalty later. If you are unsure how much to pay, or whether you can reduce it, check before the deadline.

Need a hand before 31 July? Call 01603 669 020 or email [email protected].

If you run a limited company, how you pay yourself matters - and the wrong mix can cost you more tax than you need to pay.

Most director-shareholders use a blend:

- A modest salary, often around the National Insurance threshold, which stays efficient and preserves your state pension record
- Dividends on top, drawn from post-tax company profit and taxed at lower rates than salary
- An eye on the dividend allowance and the thresholds that tip you into a higher band

The right split depends on your profit, your other income and your plans for the year - it is not one-size-fits-all.

Want to know if you are paying yourself the efficient way? Call 01603 669 020 or email [email protected].

Choosing an accountant is choosing who you trust with your numbers. So it's fair to ask: why ATF?

- AAT Licensed Accountants who actually answer the phone
- Recognised locally - Best of Norwich 2024 and Three Best Rated
- QuickBooks Advanced Certified and fluent in Xero, Sage, FreeAgent and Dext - fully set up for cloud and MTD
- Fixed monthly fees, proactive advice, no surprise bills

We work best with limited company owners, landlords and sole traders who want a long-term partner - not a once-a-year form filler.

If that's you, the first step is a free, no-obligation discovery call.

Call 01603 669 020 or email [email protected]. Let's make your business work for you.

Profitable on paper, but always tight on cash? You're not alone - and the two are not the same thing.

Profit is what's left after costs. Cash flow is whether the money is actually in the bank when you need it.

A few levers that help:

- Invoice promptly and chase politely but firmly
- Know your true margins per product or service
- Forecast the lumpy months before they arrive (tax, VAT, quiet seasons)
- Keep a buffer, not just a target

Looking ahead matters as much as reviewing the past - it helps you spot what's coming before it lands.

Want a clearer picture of your numbers? Happy to talk it through.

Selling a rental property? Capital Gains Tax can take a serious bite - and the rules are stricter than many landlords realise.

Key things to know:

- UK residential property gains must usually be reported and paid within 60 days of completion
- Your annual CGT allowance has shrunk in recent years
- Reliefs and allowable costs (improvements, fees) can reduce the bill
- Timing and ownership structure make a real difference

Plan the sale before you sell, not after, and the numbers can look very different.

Thinking of selling a property this year? Talk to us first - it's often the most cost-effective conversation you'll have all year.

It's July. Your Self Assessment deadline is months away. So why mention it now?

Because filing early is one of the easiest wins in tax:

- You know exactly what you owe, with months to plan for it
- No January panic, no last-minute fees
- Faster refunds if HMRC owes you
- More time to spot legitimate ways to reduce the bill

Filing early doesn't mean paying early - the payment deadline stays the same. You just buy yourself certainty.

Want your return done and dusted while everyone else is still ignoring it? Send us your details now.