Figures (UK) Accountancy Services

03/06/2026

Day 7: Your Tax-Efficient Extraction Plan

We've covered a lot this week. Let's recap the toolkit for extracting £40,000 profit tax-efficiently:

1. Claim all legitimate business expenses
2. Optimize your director's salary (£12,570 sweet spot)
3. Pay dividends on remaining profit (8.75% tax vs 20% salary)
4. Consider pension contributions (triple tax relief)
5. Retain some earnings for growth and flexibility
6. Keep meticulous records (HMRC loves evidence)

The right mix depends on your personal circumstances, business goals, and tax position. There's no one-size-fits-all answer.

Here's what we know: most directors leave money on the table. They either overpay tax or take unnecessary risks with HMRC.

We help you navigate this. Every month, we review your numbers, spot opportunities, and ensure you're compliant and efficient. That's the Figures UK difference.

With £40,000 profit, the right strategy could save you £3,000-£5,000 per year. That pays for professional advice many times over.

Ready to optimize? Let's talk.

Call 01778 252712 or message us for a free consultation. We'll review your situation and show you the tax saving. 💼

02/06/2026

The Bottom Line: Tax-Efficient Money Extraction

You've made £40k. Now take it home smart.

Here's what we've covered this week:

✓ Claim legitimate business expenses (vehicle, home office, professional fees)
✓ Plan your salary vs dividends strategy
✓ Deduct interest on business loans
✓ Track everything properly

The real magic? Doing this monthly, not annually.

When you work with us, we're reviewing your numbers every month. That means:
- We catch expense opportunities before year-end
- We help you plan salary/dividend splits in advance
- You never scramble at tax time
- You always know where you stand financially

With £40k profit, getting this right could save you £2,000-£5,000+ annually. That's real money.

Ready to stop leaving money on the table? Let's talk. Call 01778 252712 or message us today. We'll show you exactly how much you could save.

Your accounting heroes are here to help.

01/06/2026

Making Tax Digital (MTD) – What Traders Over £50k Need to Know

If your business turnover is over £50,000, Making Tax Digital is now a requirement. But what does that actually mean for you?

MTD means submitting quarterly updates to HMRC using compatible software instead of waiting until year-end. It sounds technical, but here's the reality: it keeps your finances transparent, helps you spot issues early, and makes tax planning easier.

We handle all the complexity for you. Our team ensures your quarterly submissions are accurate, compliant, and submitted on time—so you can focus on running your business.

Confused about MTD? Not sure if you're compliant? Let's have a chat.

📞 Call us: 01778 252712
💬 Message us here or reply to this post

We're here to make tax simple.

31/05/2026

Quarterly Income Tax Returns – What You Need to Know

If you're a sole trader with turnover over £50,000, Making Tax Digital means quarterly income tax returns are now part of your compliance obligations.

But here's the good news: quarterly returns actually make your life easier.

Why? Because instead of scrambling to gather a year's worth of records in January, you're staying on top of things throughout the year. You know exactly where you stand financially, you can plan better, and you avoid nasty surprises.

The challenge is getting it right. Missed deadlines, incorrect calculations, or incomplete submissions can trigger HMRC penalties.

That's where we come in. Our team handles your quarterly submissions with precision and care. We ensure everything is accurate, on time, and compliant—so you can focus on what you do best.

Not sure if you're MTD compliant? Let's have a chat.

📞 01778 252712 | 💬 Message us

30/05/2026

Please be aware of the scams coming out always call the official numbers not on the letters or emails that’s are potential scams . If in doubt contact your accountant

⚠️ We've had reports of suspicious letters claiming to be from Companies House.

Please do not follow any instructions in this letter.

Read more about fraudulent letters: https://www.gov.uk/guidance/reporting-scams-pretending-to-be-from-companies-house -letters

12/05/2026

**Retail VAT Schemes: Simplified Accounting for Retailers**

Running a retail business? The Retail VAT Schemes offer simplified ways to calculate VAT without needing detailed records of every transaction. There are several options depending on your business model.

**Real-life example:**
Emma runs a small gift shop with £120,000 annual turnover. Using the Point of Sale scheme, she records VAT based on her till readings rather than individual invoices. This saves her hours of paperwork each month and makes VAT accounting straightforward.

**Who benefits?** Retailers with high transaction volumes looking to simplify VAT calculations.

Not sure which retail scheme suits your business? Give us a call on 01778 252712 or message us—we'll review your setup and recommend the best option.

11/05/2026

**Annual Accounting Scheme: One VAT Return Per Year**

If you're looking for simplicity, the Annual Accounting Scheme could be your answer. Instead of submitting VAT returns quarterly, you submit just one return per year—saving time and reducing admin burden.

**Real-life example:**
Mike runs a construction business with £200,000 annual turnover. Using the Annual Accounting Scheme, he makes nine monthly payments to HMRC based on estimates, then one final adjustment when he submits his annual return. This means less frequent contact with HMRC and more predictable cash flow planning.

**Who benefits?** Businesses with stable, predictable turnover looking to reduce VAT admin frequency.

Ready to explore if this scheme fits your business? Call us on 01778 252712 or drop us a message—we'll guide you through the options.

11/05/2026

Ever wondered if your accountant truly cares?

One of our clients recently told us how much easier life feels since switching to Figures UK. Monthly check-ins, clear advice, and no more confusing jargon.

Ready for accounting that actually supports your business? Call Figures UK today on 01778 252712 and let’s chat.

10/05/2026

**Flat Rate Scheme (FRS): Simplify Your VAT**

The Flat Rate Scheme is perfect if you want to simplify VAT accounting. Instead of calculating VAT on every transaction, you pay a fixed percentage of your turnover to HMRC—typically between 4% and 16.5% depending on your business type.

**Real-life example:**
Sarah runs a digital marketing agency with £80,000 annual turnover. Using FRS at 10%, she pays £8,000 in VAT annually—simple, predictable, and no complex calculations. She saves time on VAT admin and can focus on growing her business.

**Who benefits?** Businesses with turnover under £150,000 looking for simplified VAT accounting.

Want to know if FRS could work for your business? Give us a call on 01778 252712 or send us a message—we'll review your situation and advise if it's the right fit.

09/05/2026

Once you’ve verified your identity, you’ll receive a personal code. This code confirms your verified identity and must be provided to Companies House for all company roles to complete the identity verification process.

When you need to provide your personal code depends on your role.

✅ Directors need to include their personal code in the company’s next confirmation statement.
✅ PSCs must provide their personal code using a separate service during a 14-day window.

Check the Companies House register to see the verification due dates for each role you hold.