PAYE deducts income tax and National Insurance from your wages before you receive them: your tax code controls how much is taken, and if it’s
Distributable reserves are what legally determine if a limited company can pay a dividend. A company can report a healthy net profit for the year
An emergency tax code is applied when HMRC doesn’t have your full income details: it means you’re probably overpaying tax right now, and you can
Management accounts give you a real-time view of profit, cash flow, and financial position: usually prepared monthly or quarterly, they replace year-end guesswork with decisions
The VAT threshold in 2026/2027 tax year for compulsory registration is £90,000 in any 12-month rolling period of taxable turnover. The VAT deregistration threshold in
An accrual records income or expenses when the work happens, not when cash moves. Your accounts show what you’ve actually earned and owed, not just
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