For many UK small business owners, January brings a familiar sense of relief after submitting a Self Assessment tax return. But just as you breathe out, another date looms quietly on the horizon – 31 July. That’s when your second Payment on Account is due. If this concept still feels confusing or frustrating, you’re not
If you’re a business owner, landlord, or self-employed individual earning over £50,000, big changes are on the horizon. From April 2026, HMRC’s Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) becomes mandatory. Getting ahead of it now will save you time, stress, and potentially money. In this post, we’ll break down what’s
Chancellor Rachel Reeves delivered the 2025 Autumn Budget yesterday, unveiling a range of new financial measures. Key Points at a Glance: The 2025 Autumn Budget sets out the government’s financial plans ahead of the next general election. With a strong focus on funding public services and supporting families, the Budget also includes several tax and
A salary of £50,000 is a significant milestone for many people. Whether you’re advancing in your career, moving into a new sector or simply reviewing your finances, it’s helpful to understand what this income looks like once tax and other deductions are taken into account. In this guide, we’ll break down how a £50k salary
AI is no longer just a buzzword. From sole traders to growing companies, business owners are finding real value in using smart tools that reduce admin, cut errors, and free up time. As we head towards more digital reporting requirements with Making Tax Digital (MTD), there’s never been a better time to understand what AI
From 18 November 2025, new legal requirements mean that all Company Directors and persons with significant control (PSCs) must complete ID verification with Companies House. This change is part of the Economic Crime and Corporate Transparency Act 2023, designed to improve corporate transparency and prevent fraud. If you’re a business owner, director or PSC, here’s
Keeping your business finances in order is crucial—but let’s be honest, outsourcing your bookkeeping might not be the first thing that comes to mind when you’re juggling everything else. For many business owners, bookkeeping is a task that lingers at the bottom of the to-do list, waiting for a quiet moment that never comes. That’s
We know it’s tempting to keep year-end prep for “later.” But getting ahead now, while things are (hopefully) a little calmer, can make all the difference. Less last-minute panic. More peace of mind. And a far clearer picture of where your business stands. Whether your year-end is coming up in December or you just want
Paying tax is never a thrill, but once the money’s left your account, the waiting game begins. Has HMRC received it? Was the reference right? Should you be worried if nothing shows straight away? At Blue Spire, we understand how nerve-wracking it can be to send a large HMRC tax payment – especially if you’re
If you’re using Xero to manage your business finances (or you’re thinking about it), it’s important to be aware of some upcoming pricing changes affecting certain subscription plans. From 1 September 2025, Xero will increase the prices of its Grow, Comprehensive, and Ultimate plans in the UK. These updates reflect Xero’s ongoing investment in improving
So, you’re thinking about a career in accountancy? Whether you’re still at school, about to leave college, or just curious about what comes next, accountancy can open doors to a wide range of careers – from tax to tech, business advice to bookkeeping. And if you’re picturing someone hunched over a calculator all day… think
Making the leap from Sole Trader to Limited Company can feel like a big decision, but it doesn’t have to be overwhelming. Whether you’re just starting out or your business is growing fast, this guide will help you understand the differences, weigh up the pros and cons, and know when (and how) to make the
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