ADP&Co, Chartered Accountants

ADP&Co, Chartered Accountants Welcome to ADP&Co, Chartered Accountants.

We Can Help With
- Starting a Business
- Accountancy & Audit
- Tax Advice
- Book keeping
- VAT Returns
- Payroll
- CIS

All accountancy packages include unlimited telephone support and tax minimisation advice.

20/07/2025

Tax tip for limited companies in the UK:
Pay Yourself Tax-Efficiently

As a director/shareholder, you can reduce your overall tax bill by combining a low salary with dividend payments:

• Pay yourself a salary up to the National Insurance threshold (e.g. £12,570 for 2025/26) — this keeps you within the tax-free personal allowance and qualifies you for state benefits.

• Take the rest of your income as dividends, which are taxed at lower rates than salary:
• 8.75% (basic rate)
• 33.75% (higher rate)
• 39.35% (additional rate)

This strategy helps reduce:
• Income Tax
• National Insurance Contributions (NICs)

Always ensure your company has enough retained profits to legally pay dividends, and keep proper board meeting minutes and dividend vouchers.

20/07/2025

Tax tip for sole traders in the UK:

Use the Trading Allowance
If you earn £1,000 or less from self-employment in a tax year, you don’t need to register for Self Assessment or pay tax on that income. This is called the trading allowance.

But even if you earn more than £1,000, you can still:
• Deduct the £1,000 allowance from your income instead of claiming actual expenses — if it gives you a better tax outcome.

This is especially useful for:
• Side hustles
• Freelancers with minimal expenses
• Occasional or seasonal work

20/07/2025

Making Tax Digital (MTD) for Income Tax

• Quarterly updates required:
• 7 May 2025: Q1 return due.
• 7 August 2025: Q2 return due.
• 7 November 2025: Q3 return due.

20/07/2025

Payroll & PAYE

• 19th of each month: PAYE and EPS submissions due.

• 22nd of each month: Electronic PAYE payments due.

20/07/2025

VAT Returns

• Usually due 1 month and 7 days after the end of your VAT period.

• 7 May 2025: VAT return/payment for period ending 31 March 2025.

• 7 August 2025: For period ending 30 June 2025.

• 7 November 2025: For period ending 30 September 2025.

20/07/2025

Corporation Tax

• Due 9 months and 1 day after the end of your accounting period.

For example:
• 1 May 2025: Corporation Tax due for accounting periods ending 31 July 2024.

• 1 August 2025: Due for periods ending 31 October 2024.

• 1 September 2025: Due for 30 November 2024

20/07/2025

General Business Tax Deadlines

• 31 January 2025:
• Deadline for Self Assessment tax return (2023/24) and payment of any tax owed.

• 5 April 2025:
• End of the 2024/25 tax year.

• 6 April 2025:
• Start of the 2025/26 tax year.

• 31 July 2025:
• Second Self Assessment payment on account due for 2024/25.

• 5 October 2025:
• Deadline to register for Self Assessment if newly self-employed or with new income in 2024/25.

24/06/2025

Welcome to ADP&Co, Chartered Accountants.

We specialise in helping owner-managed businesses to achieve their goals.

Work with us and you will have the benefit of the technical skill and expertise you would expect from chartered accountants combined with the commercial sense of business advisers.

Address

Birmingham

Opening Hours

Monday 9:30am - 5:30pm
Tuesday 9:30am - 5:30pm
Wednesday 9:30am - 5:30pm
Thursday 9:30am - 5:30pm
Friday 9:30am - 5:30pm

Telephone

+443335774755

Website

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