As the holiday season approaches, many of us are busy decking the halls, writing Christmas cards, and ticking off gift lists. But between the mulled wine and mince pies, have you thought about giving your finances a festive spruce-up? The end of the year is the perfect time to reflect, regroup, and prepare for a
If you\’re a poker player in the UK, you’re probably wondering whether you need to declare your winnings for tax purposes. The answer can be a bit more complex than a straightforward yes or no, depending on your playing style, frequency, and whether you play professionally or as a hobby. Here’s a comprehensive guide to
If you\’re a landlord in the UK, you\’ve probably heard of VAT (Value Added Tax) and wondered, \”Does this apply to me?\” Don\’t worry—you\’re not alone! Navigating the tax system can feel like walking through a maze, but we’re here to shed some light on what you actually need to know about VAT as a
Thinking about changing accountants but worried it’ll be a hassle? Don’t be. Switching to a new accounting practice, like Word Consulting Ltd, is simpler than you think—and we handle everything for you. Plus, we use modern technologies to make your bookkeeping and financial management smarter, faster, and more efficient. Here’s how we make switching accountants
If you’re sole trader or a freelancer, your business will have various running costs. You can deduct some of these costs to work out your taxable profit if they’re allowable expenses. HMRC allows you to deduct the costs of certain purchases that are necessary to run your business. These costs can be deducted from your
Thinking about the best way to structure your business? You’re not alone. If your turnover is climbing above £50,000, you might be wondering: should I stay as a sole trader or make the leap to becoming a limited company? This decision is more than just a legal formality—it can have a big impact on your
Choosing an accountant for your business is one of the most important decisions you can make. A good accountant is more than just someone who files your taxes—they can help guide your business toward growth, keep you compliant with financial regulations, and even save you money. However, selecting the wrong accountant can have severe consequences,
Let’s face it: Santa’s got his business figured out. A global operation, a massive workforce (those elves aren’t volunteers), high production rates, and strict delivery deadlines. If anyone in the North Pole knows about smart business structures, it’s probably him. Rumor has it he’s running an LTD company—and maybe it’s time you did too. This
As the festive season approaches, you’re probably thinking about gifts for loved ones, decorations, and perhaps a few cheeky mince pies. But have you considered giving yourself something truly life-changing this Christmas? No, not a new sweater or the latest gadget—we’re talking about starting your own LTD company! It might not come wrapped in shiny
Why Getting a Mortgage Feels Like a Marathon Applying for a mortgage in the UK can feel overwhelming. You’re up against piles of paperwork, strict lender requirements, and the ultimate challenge: proving your financial stability. It’s even tougher if you’re self-employed, a freelancer, or a small business owner, where traditional payslips and P60s just don’t
