Business Tax Tips

More small businesses fail because of cash flow problems than because of a lack of profit. It's one of the most counterintuitive truths in business: you can be winning customers, growing your turnover, and still run out of money. The invoice you raised last month won't pay your supplier this week. The VAT bill that arrives in January doesn't care that your biggest client is 60 days late. Cash flow is the movement of money in and out of your business — and managing it well is

One of the first and most important decisions you'll make as a self-employed person in the UK is how to structure your business. Should you operate as a sole trader, or set up a limited company? It's a question we're asked regularly at Barnett & Co by contractors, freelancers, and small business owners across Crewe and Cheshire — and the honest answer is that it depends on your income, your plans, and your appetite for admin. This guide breaks down both options clearly, so yo

Freelancer’s workspace showing laptop, notebook, and coffee cup If the words "self assessment" make your stomach drop, you're not alone. For millions of freelancers across the UK, tax is the part of self-employment nobody warned you about — confusing, the deadlines feel arbitrary, and getting it wrong can be costly. Here's the thing: freelancer tax is far more manageable than it appears, once you understand how it actually works. This guide covers everything you need to know

Why Every UK Company Must File Annual Returns – Even When Not Trading If you own a UK limited company, whether it is actively trading or lying dormant, you have a legal obligation to file statutory documents with Companies House every year. Many business owners mistakenly believe that if their company is not trading, they can simply "pause" their filing obligations. This is incorrect and can lead to serious consequences, including penalties and the involuntary dissolution of

c VAT registration guide UK 2024 - Barnett and Co Accountants Value Added Tax (VAT) is one of the most important taxes affecting UK businesses, yet many business owners are unclear about when they need to register and what their obligations are. With the VAT registration threshold increasing to £90,000 in April 2024, understanding your VAT obligations has never been more important. At Barnett & Co Accountants, we regularly help clients navigate VAT registration, and we have p