Edward Harris Chartered Certified Accountants

Edward Harris Chartered Certified Accountants Specialist Accountants in Property, Trades & Construction.

04/06/2026

Buying equipment for your business? You could be reducing your tax bill at the same time đź‘€

Many business owners don’t realise that when they buy assets for their business, they may be able to claim Capital Allowances.

Assets can include things like:
âś… Computers and laptops
âś… Vans
âś… Tools and machinery
âś… Office furniture
âś… Equipment used in the business

Instead of getting tax relief through your normal expenses, Capital Allowances allow you to claim tax relief on qualifying business assets.

One of the most valuable reliefs is the Annual Investment Allowance (AIA).

The AIA allows businesses to claim up to ÂŁ1 million of qualifying asset purchases against their profits in the year they buy them.

For example:
If your company makes a £100,000 profit and purchases a £20,000 van that qualifies for AIA, the company’s taxable profit could reduce to £80,000.

That means less Corporation Tax to pay.

Before buying assets, it’s worth understanding what tax relief may be available.

The asset still needs to make commercial sense for the business, but if you’re planning to buy it anyway, claiming the correct relief can help improve cash flow and reduce your tax bill.

P.S if you want an accountant who actually tells you this stuff, comment the word CHAT to apply to become a client.

03/06/2026

Here are 4 telltale signs that you need an accountant, and the last one is crucial.

1. You are spending too much time on your finances. You didn’t become a business owner to lose yourself in spreadsheets. Accountant can help you to streamline your processes so you have more time to run your business.

2. You don’t know what you can claim for. Claiming every business expense that you are entitled to can drastically reduce your tax bill. An accountant will ensure you claim every allowance business expense so you don’t miss out on tax reliefs.

3. You are unsure if your business structure is right for you. Maybe you are confused on whether operating as a sole trader or limited company is more tax efficient. An accountant can explain the pros and cons of each.

4. You are worried about making mistakes. A lot of things can go wrong and putting off hiring an accountant could cost you, especially if you incur penalties from HMRC.

02/06/2026

Good news for employees who use their own car for work related travel

For the first time in 15 years, the Approved Mileage Allowance Payment (AMAP) rate has increased from 45p per mile to 55p per mile for the first 10,000 miles.

What does this mean?
If you’re an employee using your own vehicle for business journeys, you may be able to receive more tax-free mileage reimbursement from your employer.

It’s important to remember that commuting from home to your normal workplace doesn’t count as business mileage.

Business mileage usually includes trips to:
âś… Clients
âś… Temporary workplaces
âś… Meetings

02/06/2026

Missing this allowance can cost your business ÂŁ10,500 per tax year.

Many small business owners have never heard of the Employment Allowance.

If you’re eligible, it can reduce your Employer’s National Insurance bill by up to £10,500 per year.

What does that mean?
If you employ staff and pay Employer’s National Insurance, HMRC may allow you to offset up to £10,500 of that cost.

The allowance is usually claimed through your payroll software when submitting your payroll to HMRC.

If you’re a director and the only employee of the company then you can’t claim the employment allowance.

01/06/2026

There’s an upcoming increase in property income tax for individuals.
From April 2027, if you own property personally in England, Wales or northern Ireland, the tax will go up by 2%.

Basic rate will be 22% up from 20%.
Higher rate is 42% up from 40%
Additional rate is 47% up from 45%.

30/05/2026

Stop paying more Corporation Tax than you need to đź‘€

A lot of business owners overpay tax simply because they don’t understand the options available to them.

Here are 3 common ways limited company owners can reduce their Corporation Tax bill:

âś… Pay yourself a salary
Your salary is an allowable business expense, which means it reduces the company’s taxable profits. Many directors use a salary around the personal allowance threshold.

âś… Company pension contributions
Pension payments made by the company on behalf of directors are normally tax deductible for the business and can also help you build long-term wealth tax efficiently.

âś… Claim all allowable business expenses and capital allowances
If an expense is genuinely for the business, it may reduce your taxable profit.

This can include things like software, equipment, tools, laptops, vehicles, office costs, and other business purchases.

29/05/2026

Thinking of taking money out from your company’s profits?
The process is not the same as a sole trader, but you can pay yourself in dividends.

There are steps you need to follow first:

A dividend is simply money paid from the company’s leftover profits to its shareholders.

Before taking a dividend:
âś… The company must have enough profits available
✅ A director’s meeting should be recorded approving the dividend
âś… A dividend voucher should be created showing how much is being paid

Once the paper work is done, the money can be transferred to the shareholders.

28/05/2026

Four business expenses you might be overlooking đź‘€

âś… Stationery- Things like envelopes, notebooks, printer paper, pens, and sticky notes used for the business.

âś… Toiletries for your office or workspace. Items like toilet paper, hand soap, cleaning products, and similar supplies for an office or commercial premises are usually allowable business expenses.

✅ Music streaming subscriptions. If the music is used purely for the business, for example in a café, barber shop, gym, or fitness studio, the subscription can be claimable.

✅ Glasses or contact lenses. These are only allowable in specific situations, such as when they’re prescribed specifically for work-related use such as working with computers or screen.

26/05/2026

HMRC doesn’t care what you buy through your business.

They care whether it was genuinely for the business.

That’s the key rule.
If the expense is “wholly and exclusively” for business purposes, it will usually be allowable.

For example:
• A laptop used for work
• Software subscriptions
• Tools and equipment

The problem is when people start putting personal expenses through the company with no real business reason.

That’s where HMRC may challenge it.

26/05/2026

Are you thinking about hiring staff soon? A lot of small business owners want to hire staff to grow the business, but many underestimate the true cost of employing someone.

It’s not just the salary.

You also need to consider:
• Employer’s National Insurance
• Pension contributions

These are things first time employers forget to factor in to their budget.

There could also be:
• Recruitment fees
• Training and onboarding costs
• Laptops, phones, software & equipment
• Employee benefits to attract and retain good staff

Hiring staff is an investment. The right employee can help grow the business, but if the numbers aren’t planned properly, payroll can quickly put pressure on cash flow.

Before hiring, make sure the business can comfortably support the full cost, not just the wage.
staff

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