Your Bank Balance Isn’t Your Profit. Do You Know How Your Business Is Really Performing?
Your business bank balance might look healthy, but does it tell you the whole story? Discover the difference between cash in the bank, profit and tax liabilities — and how accurate bookkeeping and monthly financial reporting can help you understand your numbers and make informed business decisions.
31 January Is the Deadline, Not the Starting Point
Self Assessment doesn’t have to be a last-minute rush. Whether you have multiple sources of income, are a sole trader or run a small business, early preparation, accurate records and a good professional relationship can make all the difference. Discover why 31 January is the deadline, not the starting point, and how Mays Accounting Services can help you get organised for 2025/26.
Foster Carers and Tax: What You Need to Know About Self Assessment
Foster carers have specific tax rules that can make Self Assessment less complicated than you might think. Find out how Qualifying Care Relief works, what you need to know for your 2025/26 tax return and the key 31 January 2027 deadline.
Self Assessment in Retirement: Understanding Savings Interest and Dividends
Retirement can mean receiving income from pensions, savings and investments. Find out how savings interest and dividends are treated for tax, when you may need to register for Self Assessment, and what the £10,000 thresholds mean for 2025/26.
New to Self Assessment? HMRC’s 5 October 2026 deadline is approaching
New to Self Assessment? HMRC’s 5 October 2026 registration deadline is approaching. Find out who needs to register, what you need to do and how to prepare for your tax return.
Mileage or actual costs – which is right for you?
If you use your own car or van for your business, there are different ways to work out what you may be able to claim. Find out how HMRC’s mileage rates work, what you can and can’t claim, and why keeping accurate mileage and expense records matters.
Self Assessment, VAT and Making Tax Digital: What Do You Need to Know?
Self Assessment, VAT and Making Tax Digital can be confusing, especially for small businesses. Find out how they differ, what is changing with MTD for Income Tax, and why keeping your bookkeeping up to date is more important than ever.
Profit on paper, but no money in the bank?
Making a profit doesn’t always mean having cash in the bank.
Your business can be profitable while money feels tight. Find out why profit and cash flow can tell very different stories — and why keeping an eye on what’s coming in and going out can help you stay in control.
Are Your Business Accounts Giving You the Information You Need?
Are your business accounts simply being completed, or are they actually helping you understand your business?
Accurate bookkeeping provides much more than figures for an annual return. Regular reconciliations, correctly recorded transactions and up-to-date records can give you confidence in your numbers and help you make better-informed decisions.
In this Insight, we look at what business owners should consider when reviewing their bookkeeping and financial support — including what they’re actually paying for, the importance of accurate records and whether their accounts are giving them the information they need.
What Can a Qualified Bookkeeper Actually Do? It May Be More Than You Think
Think a bookkeeper only enters invoices and balances the bank? Think again. A qualified bookkeeper may be able to provide a much wider range of financial and tax services than you realise. Discover what a qualified bookkeeper can actually do and how Mays Accounting Services can help your business.