OBS Accounting

OBS Accounting Our family-owned accounting practice provides a range of accounting services to individual customers and businesses - from tax returns to setting out budgets.
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Visit here https://linktr.ee/myobsaccounting for more details.

The most common thing I’ve been hearing from sole traders lately is:‘I just don’t know if it’s worth staying as a sole t...
09/07/2026

The most common thing I’ve been hearing from sole traders lately is:

‘I just don’t know if it’s worth staying as a sole trader.’

And quite often, that question comes up because of MTD:�
‘If I have to deal with a new system anyway, would I be better off just switching to a limited company?’ 🤔�
I understand the thinking. But I’ll be honest with you about three things, so you don’t make the decision for the wrong reason:�
1. MTD for Income Tax does not currently apply to limited companies - that’s true. BUT that doesn’t mean less work. A limited company has its own accounts, filing requirements and compliance responsibilities. ‘Escaping MTD’ alone is not a good reason to change your business structure.

2. Once you move to a limited company, you’ll still pay yourself a salary, and that income is taxable. You’ll also still complete your personal tax return - separately from the company.

3. The taxes are different, but they’re not always lower. Sometimes a limited company works out better. Sometimes it doesn’t. It all depends on YOUR numbers: how much you earn, your expenses, and how much you take out of the business.�
A limited company can be a great next step for many business owners - but only when you make the move understanding what you’re doing, not because you think it will mean fewer responsibilities.

I’m Odeta - founder of OBS Accounting. I help business owners look at whether becoming a limited company actually makes financial sense for them and make the decision based on their numbers - not on what feels less intimidating.�
If you’ve been wondering, ‘sole trader or limited company?’, let’s start with a free 30-minute chat. I’ll leave the booking link in the comments 👇�

09/07/2026

A quick update from the OBS Accounting crew! 👋

If your feed has been a bit of a linguistic rollercoaster lately, we have some good news. We’re officially splitting things up to make everyone's scrolling experience a whole lot smoother!

🇬🇧 This Page: Staying 100% in English from now on.

🇱🇹 Our New Page: We’ve launched a dedicated home just for our Lithuanian-speaking community over at OBS Buhalterija JK

Why the change? We want to keep things clear, relevant, and free of accidental language lessons you didn't sign up for. 🧡

If you happen to know a Lithuanian business owner here in the UK who could use some stress-free accounting tips in their native language, we'd love it if you sent them our way! 🙏

Cheers,

The OBS Accounting Team

08/07/2026

The difference between A and B?

B has an accountant they trust.

Having the right support throughout the year helps you stay in control of your business instead of constantly reacting.That means fewer surprises, better decisions, and the confidence to pick up the phone before a simple question becomes an expensive mistake.

Which one are you? 👇

If you're looking for an
accountant who's there when you need them - not just at tax return time - we'd love to chat.

Book your free consultation today directly on our website. 🧡 link in our bio

25/06/2026

3 things Self-Employed people get wrong about MTD (and which can cost you dearly):

Myth 1: ‘I got a letter from HMRC, so I'm registered ✅’ No. Registering for MTD is a separate, MANUAL process. Neither the letter nor the fact that you're registered for Self Assessment signs you up automatically. You have to register yourself - otherwise the software won't even work.

Myth 2: ‘I’ll have to buy an expensive piece of software 💸’ Not necessarily. There are free HMRC-recognised options for simple cases. Paid software offers more, but not everyone needs it. The important thing is to choose the RIGHT one for your situation - not the most expensive. By the way: accountants get discounts on software - so check whether your accountant passes those discounts on to you.

Myth 3: ‘There are no penalties in the first year, so I don't need to worry 🥂’ Only partly true. There are no penalties for late QUARTERLY updates. But the final declaration is another matter: penalties do apply for submitting it late, for errors in it, and for paying the tax late. The "soft-landing period" is there to help you get used to it - not to ignore it.

P.S. The new penalty systems deserve their own post - soon I'll explain how the points system works and when the £200 penalties kick in.

I'm Odeta, OBS Accounting. I help sole traders move over to MTD without panic.

If you need help with MTD or you're looking for an accountant - we're taking on new clients. First 30-minute consultation free 🤗

22/06/2026

Last Friday we had the pleasure of attending the Train the Trainer event hosted by Surrey and Sussex Dog Trainers 🐾🎉 We shared the accounting side of running a dog training business - setting up properly, staying compliant, and building strong financial foundations from the start 💪

At OBS Accounting, most of our work happens behind the scenes, so it was lovely to step into the room, meet new business owners, and be part of these important early conversations.

Thank you for having us 🐾

26/05/2026

Hooray! Here's some things to remember 👇

The new approved mileage rate from 45p to 55p per mile is for the first 10,000 business miles, (after that, the rate drops down to 25p.) It starts from 6 April 2026

It applies to:
• Employees
• Sole traders
• LTD directors
• CIS workers
• Business owners using their own vehicle for work

You must keep records of:
• Dates
• Journeys
• Purpose of trip
• Miles travelled

And remember, it must genuinely be for business travel. Normal commuting usually does NOT count ❌

EMPLOYEES 👀👉: if your employer pays LESS
than HMRC's approved mileage rate, you may be able to claim tax relief on the difference

SOLE TRADERS 👀👉 : if you use simplified expenses to claim this new mileage rates, you generally cannot also separately claim fuel, repairs, insurance and similar vehicle costs for the same car.
(Therefore it's worth to plan, look at your circumstances and speak to a professional to see whats actually the right move for you.)

What do you think about this recent development?🤔

Follow for us so you do not miss valuable business and tax updates🧡

The current standard PAYE tax code is 1257L… but that doesn’t mean yours is correct 👀Most people assume their tax code i...
11/05/2026

The current standard PAYE tax code is 1257L… but that doesn’t mean yours is correct 👀

Most people assume their tax code is right and never check it - but tax codes can change throughout the year, and if something is off, it affects your pay before you even realise it.

That’s why it’s worth understanding the basics and knowing what to look out for.

Save this post - and follow for straightforward UK small business tips 🧡

Address

Unit 4, The Old Bakery
Cranleigh
GU68AU

Telephone

+447415012256

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