Ksk-accounts, Basingstoke (2026)

15/10/2026

EMPLOYEE vs SELF-EMPLOYED

Thinking about going self-employed?

It can be an exciting step – more independence, more flexibility and the opportunity to build something of your own.

But if you're used to being employed, there are a few financial differences worth thinking about before making the jump.

As an employee, you might be used to:
- A regular salary each month
- Paid annual leave
- Sick pay
- Workplace pension contributions
- Tax being dealt with automatically through PAYE

When you're self-employed, things work a little differently.

You'll need to think about:
Keeping records of your business income and expenses
Putting money aside for your own tax bill
Completing a Self Assessment tax return
Allowing for holidays and time off when you won't necessarily be earning
Managing your own pension and savings
Keeping on top of your bookkeeping – and potentially Making Tax Digital too

But there are benefits as well!!

You have the opportunity to set your own prices, choose how you run your business and potentially build an income that isn't restricted to a fixed salary.

💡 One of the best things you can do before going self-employed is work backwards from the income you need personally.

How much does the business need to bring in to cover its costs, your tax, time off and still pay you what you need?

Being self-employed can be incredibly rewarding – but understanding the numbers before you start can make the transition a lot easier.

☕ KSK Accounts
https://www.kskaccounts.co.uk/
e-mail: [email protected]

13/10/2026

💡Tax Tip Tuesday - KSK Accounts

*Tip: Don't forget the VAT on mileage
If your business is VAT registered and you use the mileage allowance for business journeys, you may still be able to reclaim VAT on the fuel element of those journeys. -Don't forget, You'll need the right VAT receipts to support it

*Tip: Did you know— Your company can pay for an eye test!
If you use a computer or screen as part of your job, your company can potentially pay for the required eyesight test without it becoming a taxable benefit.
And, in certain circumstances, it can contribute towards glasses needed specifically for screen work too.

*Tip: Check who's actually named on the invoice
Want your limited company to claim an expense?
Where possible, make sure invoices for company purchases are addressed to the company, particularly where VAT is being reclaimed. - A small detail that can save questions later.

*Tip: Did you know — Staff parties aren't just for Christmas
A limited company can generally spend up to £150 per head per year on annual staff functions without creating a taxable benefit, provided the conditions are met.
It can be a summer BBQ, Christmas party or even split across more than one event

It all adds up!
follow for more Tax Tips

KSK Accounts
Website: https://www.kskaccounts.co.uk/
E-mail: [email protected]

10/10/2026

💙 Small Business Saturday

Behind every small business is a person (or a small team!) putting in a lot of time, energy and hard work to make it happen.

As a small business ourselves, we know there’s often a lot going on behind the scenes that customers never see – the early mornings, late evenings, paperwork, decisions, and the never-ending to-do list! 😊

So today is a good excuse to celebrate all the brilliant small businesses in our local community.

Whether it's your local café, tradesperson, shop, beauty business, consultant or one of the many other small businesses around Basingstoke and Hampshire – every recommendation, review, share and purchase really does make a difference.

Happy Small Business Saturday from all of us at KSK Accounts 💙

https://www.kskaccounts.co.uk/
e-mail: [email protected]

07/10/2026

“I've bought things before starting my business – can I still claim them?”

Potentially, yes! 😊

It's quite normal to spend money getting a business ready before you actually start trading.

Perhaps you've paid for:
Software or subscriptions
A website or domain name
Advertising or marketing
Professional fees
Stock or materials
Equipment for the business

Just because you paid for something before the business officially started trading, doesn't necessarily mean the cost is lost!

The important question is usually whether the cost was genuinely for the business and whether it would have been allowable if you'd bought it after the business started.

⚠️ Not everything is treated in exactly the same way.

Things such as equipment and other capital purchases have their own tax rules
And if you bought something that you also use personally, the treatment may be different again.

💡 So if you're thinking about starting a business – start keeping your receipts now!

Keep a record of what you've bought, when you bought it and why you needed it for the business.

You may be surprised by how many of those early start-up costs can be taken into account once you begin trading.

☕ KSK Accounts | Ask an Accountant

05/10/2026

Money Myth Monday!

Myth: "I should avoid making too much profit because I'll pay more tax."
Reality: Paying more tax usually means you've earned even more money. Profit is still profit.

Myth: "Every accountant offers exactly the same service."
Reality: Some only prepare your accounts. Others help you understand your numbers, save tax and plan ahead.

Myth: "If my business is growing, cash flow will automatically improve."
Reality: Fast-growing businesses often experience cash flow pressure because they're spending money before customers pay.

Myth: "If my business is growing, cash flow will automatically improve."
Reality: Fast-growing businesses often experience cash flow pressure because they're spending money before customers pay.

Follow for more! ☺️

Website: https://www.kskaccounts.co.uk/
e-mail: [email protected]

02/10/2026

What’s the most tax-efficient way to pay myself from my Limited Company?

For many owner-directors, a common approach is to use a combination of salary and dividends.

Here’s the basic idea

1. Take a salary

For 2026/27, the standard Personal Allowance is £12,570.

Depending on your circumstances, paying a salary up to this level can make sense – the salary is generally an expense for the company for Corporation Tax purposes and, assuming you have the full Personal Allowance available, there would usually be no personal Income Tax to pay on it.

There can, however, be National Insurance implications for the company, so £12,570 isn’t automatically the right salary for every director.

2. Take further income as dividends

If the company has sufficient profits available, additional income can then be taken as dividends.

For someone with no other income and the full Personal Allowance, total income can generally reach £50,270 before entering the higher-rate tax band.

There’s also a £500 dividend allowance for 2026/27.

Dividends falling within the basic-rate band above that allowance are currently taxed at 10.75%.

Go into the higher-rate band and the dividend tax rate increases to 35.75%!

So, if you don’t need to take all of the money out of your company, there can be a significant difference between planning your withdrawals and simply taking money whenever it’s available.

⚠️ But remember…

Dividends aren’t just another way of withdrawing cash from the company.

The company must have sufficient distributable profits to pay them and the dividends need to be properly declared and documented.

And the best salary/dividend combination can change if you have another job

For many small Limited Company owners, the starting point is:

Salary → use your available Personal Allowance

Dividends → use the tax bands you want to use

Leave anything you don’t need in the company rather than automatically pushing yourself into a higher personal tax band.

A little planning before taking the money can make a big difference.

KSK Accounts | Ask an Accountant
https://www.kskaccounts.co.uk

01/10/2026

If you could ask an accountant one question, what would it be?

Pop it in the comments and we'll pick some to answer in future posts.
No question is too simple – chances are, someone else has wondered exactly the same thing!

ASK AN ACCOUNTANT

“Can I put this through the business?”
“How much should I be putting aside for tax?”
“Can I take a dividend?”
“Do I actually need to keep that receipt?”

So, here's our first one 👇

“I've started earning some extra money from a side hustle – do I need to tell HMRC?”

Answer: It depends on how much you're earning.

- If your gross trading income is £1,000 or less during the tax year, the trading allowance may mean you don't need to tell HMRC about it (although there are exceptions).

- If your gross trading income is more than £1,000, you'll generally need to register for Self Assessment and report the income to HMRC.

And remember, we're talking about income before expenses when looking at the £1,000 threshold – not your profit.

So if you sold £1,500 worth of products but spent £800 making them, your income is still £1,500 for the purpose of checking the threshold.

The important bit: earning money alongside your normal employment doesn't automatically mean it's tax-free just because you've already paid tax through PAYE.

☕ KSK Accounts | Ask an Accountant
https://www.kskaccounts.co.uk/

29/09/2026

Do I really need to keep every receipt for years?
Yes, businesses need to keep records to support their accounts and tax returns — but that doesn't have to mean keeping boxes of paper receipts!

One of the reasons we encourage our clients to use software is that it makes record keeping so much easier.
- Receive a business receipt
- Take a photo or upload it
- Attach it to the transaction
✅ It's stored digitally with your accounting records

No filing cabinet.
No envelope stuffed with receipts.
And no trying to work out what a faded receipt was for three years later!

Depending on the software you use, you can also connect your business bank account, raise invoices and keep track of your income and expenses throughout the year.....And there's another important benefit...

You're getting ready for Making Tax Digital (MTD) at the same time.
MTD means more sole traders and landlords will need to keep digital records and use compatible software to report to HMRC.

So even if MTD doesn't apply to you just yet, getting into the habit of keeping your records digitally now can make the transition much easier when it does.

💡 Our approach is to keep things simple.
You upload your receipts and keep on top of the straightforward bits, and we can work with you to make sure everything is being recorded correctly.

It keeps your records up to date, helps us work more efficiently together and can help keep your accountancy fees reasonable too.

KSK Accounts | ACCA Chartered Certified Accountant
Based in Basingstoke, supporting businesses across Hampshire
🌐 www.kskaccounts.co.uk

22/09/2026

When did you last look at your business numbers? 👀

Not just the balance in the bank!

Do you know:

1. How much profit you've made?
2. Roughly how much tax you're putting aside?
3. Whether you're actually making more than this time last year?
4. Whether your bookkeeping is completely up to date?

Good bookkeeping isn't just about keeping HMRC happy. It should help you understand what's happening in your business.

At KSK Accounts, We support small businesses with everything from bookkeeping and VAT to Self Assessment, payroll and Limited Company accounts.

https://www.kskaccounts.co.uk/
KSK Accounts | ACCA Chartered Accountant | Based in Basingstoke, Covers Hampshire

19/09/2026

🤝 Working with your accountant – not just handing everything over

Using an accountant doesn't have to mean sending over a year's worth of paperwork and paying them to sort through everything!

I much prefer to work together with my clients throughout the year.

With simple accounting software, you can do the easy bits as you go:

-Photograph and upload receipts and invoices
-Keep your business spending through a separate bank account
-Send invoices and paperwork across digitally
-Answer the occasional query while it's still fresh in your mind

Then I take care of the accounting side — keeping an eye on the bookkeeping, checking things are being recorded correctly, completing the returns you need and making sure everything stays on track.

It has two big benefits:

1. Your accounts stay up to date rather than becoming a big job at the end of the year.

2.And importantly, you're not paying me to spend hours doing simple admin that you're perfectly happy to do yourself — which helps me keep your monthly accountancy fee reasonable.

Of course, if you'd rather hand over more of the bookkeeping, that's absolutely fine too. The level of support can be tailored to how involved you want to be.

I think accountancy works best as a partnership — you know your business, and I know the accounts. 😊

More about how I work with small businesses: https://www.kskaccounts.co.uk/

KSK Accounts | ACCA Chartered Accountant
📍 Based in Basingstoke, supporting businesses across Hampshire

Ksk-accounts

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