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FleXpert Accounting Ltd 🌟STRESS FREE, 😎SIMPLE 💰AFFORDABLE Accounting for Sole Traders and Small Businesses in the UK

Making Tax Digital complete guide ➡️ https://amzn.eu/d/8Sxzera
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We specialise in accounting for UK small businesses and startups. With our transparent and efficient services, we handle everything from bookkeeping to Annual Accounts. This frees you up to focus on your business's growth while enjoying peace of mind knowing your finances are expertly managed.

19/10/2026

OCTOBER BUDGET UPDATE!

My prediction……

Minimum wage goes up, everyone briefly feels rich, then they tax the s**t out of us elsewhere. By the end of the speech you’ll be checking whether you can claim your own children as a business expense!

They’ll announce “support for small businesses”, and every business owner in the country will instinctively cover their wallet. It’s like when the dog goes quiet, you don’t know what’s happened yet, but you know it’ll be expensive!

Tax thresholds will stay frozen. We’ll all be in the higher tax bracket eventually, which will be a lovely achievement to think about while we’re adding water to the hand soap.

The “average household” will be £300 better off. Presumably a household with no heating, no car and a side hustle selling pictures of their feet.

There’ll be a new scheme to help businesses. To qualify, you’ll need fewer than three employees, a turnover of exactly £42, a premises with a thatched roof and a goat called Derek.

Then they’ll “simplify tax”. As an accountant, that’s usually my cue to cancel lunch and start a spreadsheet called “What the f**k does this mean”.

They’ll say “working people” 86 times. Small business owners won’t count, obviously. We just unlock the doors each morning for the sheer thrill of paying overheads.

Then out comes the red briefcase. At this point I’d prefer them to turn it upside down and shake it. There’s a decent chance the rest of my pension’s in there 🙃

What are your predictions? 😂

Still doing your bookkeeping at night?You spend all day actually running the business, speaking to customers, doing the ...
11/10/2026

Still doing your bookkeeping at night?

You spend all day actually running the business, speaking to customers, doing the work and dealing with everything that crops up.

Then the evening comes…

…and instead of switching off, you open the laptop and start dealing with receipts, invoices and bookkeeping.

That shouldn’t have to become your normal routine.

The easier position is having your records kept up to date as you go, so you know where things are and you’re not constantly trying to catch up.

A few simple habits can make a big difference:

• capture receipts when you get them
• keep business transactions separate
• deal with bookkeeping regularly rather than letting it pile up
• use your accounting software properly rather than treating it as somewhere to tidy everything up later

And if bookkeeping is still taking up more of your time than it should, that may be a sign it’s time to hand some of it over.

Your evenings are worth more than another few hours of admin.

If bookkeeping is becoming the job you’re always putting off, drop us a message and we can have a chat about how we can help.

If your turnover is creeping up, keep an eye on your VAT position.The VAT registration threshold is currently £90,000, b...
10/10/2026

If your turnover is creeping up, keep an eye on your VAT position.

The VAT registration threshold is currently £90,000, but the important bit is how that figure is measured.

It isn’t based on the tax year.

It isn’t based on your accounting year.

It’s based on your taxable turnover over the previous 12 months on a rolling basis.

That means you need to keep checking your figures as the year goes on, particularly if sales are increasing.

If your taxable turnover goes over £90,000 in the previous 12 months, you’ll usually need to register for VAT.

There’s also a separate rule if you expect your taxable turnover to exceed £90,000 in the next 30 days alone.

So VAT registration can become relevant at any point during the year.

Don’t wait until your year-end accounts are prepared to find out you’ve crossed the threshold.

Save this post and get into the habit of checking your rolling 12-month turnover regularly.

Taking money from your limited company?Not every payment to you is automatically a dividend.A director’s loan can arise ...
09/10/2026

Taking money from your limited company?

Not every payment to you is automatically a dividend.

A director’s loan can arise when you take money from the company that isn’t:

• salary
• a valid dividend
• an expense repayment
• or money you previously paid into or lent to the company

These transactions are recorded through your Director’s Loan Account.

This keeps track of money moving between you and your company.

Problems can start when money is transferred backwards and forwards without anyone keeping an eye on what the balance actually is.

If the account becomes overdrawn, there can be tax consequences for you and potentially for the company too.

So before transferring money to yourself, it’s worth knowing what the payment actually represents.

Salary?

Dividend?

Expense repayment?

Repayment of money the company owes you?

Or a director’s loan?

Keeping this clear throughout the year can save a lot of untangling when the annual accounts are prepared.

If you’re regularly taking money from your company and you’re unsure how it’s being treated, ask your accountant before the balance builds up.

Your bank balance isn’t necessarily the amount you have available to spend.This is an easy trap to fall into when busine...
07/10/2026

Your bank balance isn’t necessarily the amount you have available to spend.

This is an easy trap to fall into when business is going well.

Money comes into the bank, the balance looks healthy and it can feel like there’s plenty available.

But some of that money may already have another job.

Depending on your business, you could need to allow for things like:

• VAT
• Corporation Tax
• Self Assessment
• PAYE and National Insurance

Then the payment deadline arrives and suddenly that healthy bank balance doesn’t look quite so comfortable.

One of the simplest ways to stay organised is to regularly move money for tax into a separate savings account.

That way it isn’t sitting in your main account looking available to spend.

There isn’t one percentage that works for every business, so it’s worth using your own figures to decide what should be put aside.

The aim is to know what belongs to the business, what needs to be saved for tax and what you can genuinely afford to use.

If you’re unsure what you should be putting aside, speak to your accountant and work from your actual numbers.

Paid for it through the business bank account?That doesn’t automatically mean the VAT can be claimed.A bank transaction ...
06/10/2026

Paid for it through the business bank account?

That doesn’t automatically mean the VAT can be claimed.

A bank transaction proves that money left the account, but it doesn’t necessarily give you the evidence needed to support the VAT claim.

For most purchases, you should have appropriate VAT evidence, normally a valid VAT invoice or receipt.

This is why keeping on top of receipts makes such a difference.

Rather than leaving them in your pocket, van, handbag or email inbox, get into the habit of uploading them as soon as you receive them.

A quick photo now can save a lot of chasing around when the VAT return is due.

It also means your bookkeeping records have the information needed to support the figures being entered.

If we look after your bookkeeping, receipt capture software is included within our bookkeeping packages.

Send this to the person in your business who always says, “I definitely had the receipt somewhere!”

Have you got your Companies House personal code somewhere safe?Identity verification is now part of the Companies House ...
04/10/2026

Have you got your Companies House personal code somewhere safe?

Identity verification is now part of the Companies House process for company directors and people with significant control.

Once you’ve verified your identity, you’re given your own personal code.

That code belongs to you personally, not to your company.

For existing directors, it will be needed as part of the confirmation statement process.

If your company has more than one director, each director needs to complete their own identity verification.

This is one of those jobs that’s much easier to deal with before the confirmation statement deadline arrives.

So if you’re a company director and you haven’t yet checked whether your identity verification is complete, it’s worth sorting now.

And once you receive your personal code, keep it somewhere safe.

If we look after your company and you’re unsure what you need to do, just ask us.

HMRC are now automatically signing some people up for Making Tax Digital for Income Tax.From September 2026, HMRC starte...
03/10/2026

HMRC are now automatically signing some people up for Making Tax Digital for Income Tax.

From September 2026, HMRC started signing up people who need to use MTD for the 2026/27 tax year but haven’t already signed themselves up. This is being done in stages.

For 2026/27, this applies to sole traders and landlords where HMRC’s records show qualifying income of more than £50,000 in the 2024/25 tax year.

And remember — that’s qualifying income before expenses, not your profit.

If HMRC signs you up, they use the information they already hold about you. That means it’s important to check the income sources they’ve used, especially if something has changed since your last tax return.

If you’ve been signed up, you’ll need to make sure you have compatible software in place so you can:

• keep digital records
• send quarterly updates to HMRC
• complete your tax return through the MTD process

So if an email or letter from HMRC lands in your inbox about Making Tax Digital, don’t ignore it.

If you’re one of our clients and you’ve received something from HMRC that you’re unsure about, send it over to us and we can check what it means for you.

Save this post if MTD is something you need to get ready for.

You might offer several products or services.But do you know which one actually makes you the most money?It is easy to a...
30/08/2026

You might offer several products or services.

But do you know which one actually makes you the most money?

It is easy to assume that your biggest source of sales must also be your most profitable.

That is not always true.

One service may bring in £5,000 a month but require:

• Lots of staff time
• Expensive materials
• Regular travel
• Hours of unpaid admin
• Constant customer support
• Rework or corrections

Another service may bring in less income but take half the time and cost very little to deliver.

That could make it far more profitable.

For each service or product, look at:

• The price you charge
• The time it takes
• Materials or stock needed
• Staff or subcontractor costs
• Travel and delivery costs
• Admin involved
• How often things go wrong
• How quickly customers pay

You may discover that the work keeping you busiest is actually making you the least money.

That does not always mean you need to stop offering it.

You may need to:

• Increase the price
• Improve the process
• Set clearer boundaries
• Reduce the time spent on it
• Focus more on profitable work

Turnover tells you what you sold.

Profit tells you whether it was worth doing!

𝗜𝗳 𝘆𝗼𝘂 𝗮𝗿𝗲 𝗮 𝘀𝗼𝗹𝗲 𝘁𝗿𝗮𝗱𝗲𝗿You do not normally pay yourself a wage through payroll.The money you take from the business is ...
29/08/2026

𝗜𝗳 𝘆𝗼𝘂 𝗮𝗿𝗲 𝗮 𝘀𝗼𝗹𝗲 𝘁𝗿𝗮𝗱𝗲𝗿

You do not normally pay yourself a wage through payroll.

The money you take from the business is usually recorded as personal drawings.

Your tax is based on the business profit — not how much money you withdraw.

That means leaving money in the bank does not automatically reduce your tax bill.

And taking more money out does not automatically increase your taxable profit.

𝗜𝗳 𝘆𝗼𝘂 𝗿𝘂𝗻 𝗮 𝗹𝗶𝗺𝗶𝘁𝗲𝗱 𝗰𝗼𝗺𝗽𝗮𝗻𝘆

The company is legally separate from you.

Money taken from the company needs to be identified and recorded correctly.

It could be:

• Salary
• Dividend
• Expense repayment
• Repayment of money you lent the company
• A director’s loan

Your salary may remain the same each month, while dividends might be taken at different points during the year.

But dividends should not be treated as random withdrawals.

The company needs sufficient available profits, and the correct paperwork should be prepared.

Whichever structure you use, do not simply transfer money whenever your personal account looks low without understanding what the payment is.

𝗞𝗻𝗼𝘄𝗶𝗻𝗴 𝗵𝗼𝘄 𝘆𝗼𝘂 𝗮𝗿𝗲 𝗽𝗮𝗶𝗱 𝗶𝘀 𝗷𝘂𝘀𝘁 𝗮𝘀 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝗮𝘀 𝗸𝗻𝗼𝘄𝗶𝗻𝗴 𝗵𝗼𝘄 𝗺𝘂𝗰𝗵 𝘆𝗼𝘂 𝗮𝗿𝗲 𝗽𝗮𝗶𝗱.

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Nuneaton
CV10

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

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