P&L Accountancy & Bookkeeping Limited

17/07/2026

☀️ School's out... but business doesn't stop!

If you're wondering how to keep the children occupied over the summer holidays while juggling work, there could be a solution that benefits everyone.

If you run your own business, employing your child during the school holidays can give them valuable work experience, help your business with day-to-day tasks, and it could even be a tax-efficient option when done correctly.

Of course, there are rules to follow.

✔️ They must be carrying out genuine work.
✔️ They should be paid a reasonable wage for the work they do.
✔️ You'll need to keep appropriate records.
✔️ In Oxfordshire, children can work from the age of 13 with a work permit from the local council, and there are restrictions on the type of work and the hours they can work.

Every business is different, so it's important to make sure everything is set up correctly and complies with HMRC's rules.

If you're thinking about employing your child this summer and would like to know whether it's the right option for your business, we'd be happy to help.

📞 Get in touch for friendly, practical advice

14/07/2026

Don't forget the 31 July Self Assessment payment deadline!

If you made a Payment on Account in January, there's a good chance your second Payment on Account is due by 31 July.

We know these payments can be confusing, especially if you're wondering:
👉 Why am I paying tax again?
👉 Do I actually need to make this payment?
👉 What if my income has fallen since last year?

The good news is that a Payment on Account isn't an extra tax bill – it's simply an advance payment towards your next Self Assessment tax liability.

If your income or profits are expected to be lower this year, you may be able to reduce your Payments on Account, but it's important to get the calculation right to avoid interest or penalties.

If you're unsure what you need to pay, don't leave it until the last minute.

Get in touch with P&L Accountancy & Bookkeeping and we'll help you understand your position and make sure you're paying the right amount

10/07/2026

🎉 This week I attended Xerocon London for the very first time... and it definitely lived up to the hype!

I've heard it described as the "Glastonbury for accountants", and I can certainly see why. It was a fantastic couple of days packed with innovation, inspiration and plenty of opportunities to connect with other accountants.

And before anyone asks... no, I wasn't brave enough to go down the giant slide on my own! 😂

One of the biggest takeaways was seeing the exciting developments coming to Xero, particularly how AI can help accountants work more efficiently, giving us more time to support our clients with advice and deliver an even better service.

It wasn't just about software either.

⚽ Jill Scott shared some brilliant insights into teamwork, communication and building strong relationships—something that really resonated with me as part of a small team.

🎙️ Louis Theroux gave a fascinating talk about the importance of genuinely listening to people. It was a great reminder that, as accountants, we're often trusted with some of the most personal aspects of our clients' businesses and finances. Taking the time to listen and understand their goals is just as important as producing the numbers.

I came away with lots of ideas that I'm looking forward to bringing back to P&L Accountancy & Bookkeeping over the coming months.

A huge thank you to Xero for putting on such a fantastic event. Already looking forward to the next one!

30/06/2026

Quarter 1 for Making Tax Digital has come to an end!

If you're required to submit quarterly updates under MTD, now is the time to review your records and make sure everything is up to date.

✅ Check your income and expenses
✅ Ensure your bookkeeping is complete
✅ Submit your quarterly update on time

We understand that MTD can feel overwhelming, especially when you're busy running your business. If you're unsure what needs to be submitted or need help getting your records in order, we're here to help.

Get in touch and let us take the stress out of your MTD obligations

26/06/2026

🐾 It's Take Your Dog to Work Day! 🐾

We want to see your canine coworkers!

Drop a photo of your dog in the comments and tell us:
🐶 Their name
🐶 Their job title
🐶 Their best workplace skill

We'll start:
🐾 Benji
📋 Chief Morale Officer
⭐ Expert in stress relief and biscuit quality control

23/06/2026

Thinking of hiring your first employee?

The salary is only part of the picture.

Many business owners budget for wages but forget about the additional costs that come with employing staff, including:

✔️ Employer's National Insurance
✔️ Workplace pension contributions
✔️ Holiday pay
✔️ Sick pay
✔️ Recruitment costs
✔️ Training and development
✔️ Software, equipment and uniforms
✔️ Management and supervision time

For example, a £20,000 salary could actually cost your business over £22,600 per year before considering many of the other expenses involved.

Understanding the true cost of employment helps you make informed decisions, plan cash flow effectively, and ensure your business is ready to grow sustainably.

If you're considering taking on staff and want to understand the financial impact, we're here to help.

📞 Get in touch with P&L Accountancy & Bookkeeping for practical, tailored advice on hiring, payroll, and employment costs.

19/06/2026

Every business has a story, and this is ours.

In this video, I'm sharing a little about the story behind P&L Accountancy, what inspired me to start the practice, and why supporting small businesses continues to be at the heart of everything we do.

Thank you to all our clients, supporters, and local business community for being part of the journey so far.

17/06/2026

Mid-Year Business Health Check

We're already halfway through the year – but when was the last time you took a step back and reviewed how your business is performing?

A quick mid-year check can help you identify opportunities, spot potential issues early, and make informed decisions for the months ahead.

Ask yourself:

✅ Are sales on target?
✅ Are expenses increasing?
✅ Have you reviewed your pricing?
✅ Are you putting money aside for tax?

Taking the time to review these key areas now can help improve profitability, strengthen cash flow, and avoid unwelcome surprises later in the year.

How many of these boxes can you tick?

If you'd like support reviewing your figures or planning for the rest of the year, we're here to help.

12/06/2026

Are these common bookkeeping mistakes costing your business money?

From mixing personal and business expenses to losing receipts and forgetting about unpaid invoices, small mistakes can quickly become bigger headaches.

In this video, we're highlighting some of the most common bookkeeping errors we see and how to avoid them.

✅ Keep your records organised
✅ Stay on top of cash flow
✅ Make tax time less stressful

If you're not sure your bookkeeping is working as well as it could be, we're here to help.

10/06/2026

Companies House has announced further details of the upcoming accounts filing changes, which will take effect from 1 April 2028.

One change we're particularly pleased to see is that while micro entities and small companies will be required to file Profit & Loss accounts with Companies House, they will have the option to keep this information off the public register.

There are several other changes on the way, including mandatory digital filing and the removal of abridged accounts. We'll be keeping a close eye on developments and will keep our clients updated as more guidance becomes available.

📢 Changes to accounts filings will come into effect on 1 April 2028.

An overview of what’s changing from 1 April 2028:

- all companies must file accounts digitally via software (iXBRL format)
- small companies and micro entities will need to file profit and loss accounts, but can opt-out of this being displayed on the public register – we’ll share details of the opt-out route in due course
- companies will no longer be able to file abridged accounts
- smaller technical changes, including updates to audit exemptions and accounting reference periods

We're contacting all registered email addresses between 16 and 18 June 2026 with further information about the changes.

Read more in the comments section. ⬇️