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If you run a service-based business — such as a consultancy, agency, coaching practice or professional services firm — your profits are often strong, but the question is always the same:

When thinking about take-home pay, many employees focus on income tax and National Insurance - but student loan repayments are often overlooked. For employers, student loans are usually straightforward to administer, yet having an awareness of the thresholds can be genuinely useful when discussing pay rises, bonuses, or overall remuneration.

In her Budget speech, Rachel Reeves outlined several measures that will directly affect small businesses and business owners.

Running a business is about more than just turning a profit – it’s about keeping as much of that profit as possible. With smart planning, you can legally reduce your tax bill and make your money work harder for you. Here are 25 practical, HMRC-compliant ways to save tax — ideal for limited company owners and directors.

We're delighted to announce that Andrew Coombs, owner of Kings Oak Accountancy, has been awarded the Rising Professional of the Year 2025 at the inaugural IFA Awards.

With today's cuts to the Bank of England base rate, many UK businesses and savers are wondering how this will affect their finances. 

Here's a concise guide on what a base rate cut means for the cost of borrowing, the rate of savings, and how to manage your business cashflow-plus tips on maximising protection and returns on your money.

Making Tax Digital (MTD) is the government's initiative to implement a fully digital tax system in the UK, whereby taxpayers keep digital records and use MTD compatible software to make tax submissions electronically.

Making Tax Digital is a major change in the way self-employed individuals and landlords in the UK manage and report their taxes.

As the budget announcement on October 30th approaches, individuals and businesses alike are gearing up to understand how the upcoming financial plans will impact their economic landscape.

If you're planning to hire employees or pay yourself a salary as a business owner, registering for Pay As You Earn (PAYE) is a crucial step. PAYE is the system HM Revenue and Customs (HMRC) uses to collect Income Tax and National Insurance from employment. This guide will walk you through the process of registering for PAYE, ensuring you're compliant with UK tax regulations.

At Kings Oak Accountancy, we believe in giving back to our community, and we're thrilled to announce our sponsorship at Clutton FC! 

The VAT threshold of £90,000 (as of the 2023-2024 tax year) in the UK refers to the annual turnover limit for businesses regarding VAT registration. 

As tax policies evolve, staying informed about upcoming changes to Capital Gains Tax (CGT) is crucial for effective financial planning. At Kings Oak Accountancy, we aim to provide you with the insights and strategies needed to navigate these changes successfully. Here's a look at the anticipated changes to CGT and steps you can take now to prepare.

Managing cash flow is crucial for the survival and growth of any business. Positive cash flow ensures that a business can meet its obligations, invest in new opportunities, and weather economic downturns. This blog provides seven practical tips to help UK businesses increase their cash flow, incorporating relevant UK tax laws.

The Spring Budget was void of huge surprises, but we have summarised the key points for Small Businesses below so you have a short summary specific changes that may effect you:

The Chancellor, Jeremy Hunt, presented his Autumn Statement on 22 November 2023, focussing on five areas: reducing debt, cutting tax, and rewarding hard work, backing British business, building domestic and sustainable energy and delivering a world-class education. 

The Chancellor, Jeremy Hunt, presented his Spring Budget on 15 March 2023. 

For a start up Sole Trader looking at the options below, you can get free business banking, free accounting software and a free employer pension.

Employers can now provide trivial benefits such as small gifts and entertainment without having to include these within PAYE settlement agreements or disclose on P11D forms. 

When you're dreaming about your exciting new business venture, the chances are that financial functions such as forecasting, reporting and submitting tax returns aren't at the forefront of your fantasies.

Invoicing can be a tricky and time-consuming process, especially if you're new to the game. To help you out, we've put together a list of seven basic invoicing FAQs that you may have been too embarrassed to ask.

Being a successful entrepreneur requires more than just having a great idea. There are certain qualities and skills that all successful entrepreneurs share.

A Brief overview of the Government's Mini-Budget

Customer engagement metrics are key to understanding whether your customers are happy and loyal or at risk of churn. Tracking the right customer engagement metrics enables you to identify issues early and take corrective action to improve the customer experience.

Starting your own business is incredibly exciting, but there are many practical considerations to take into account. One of the most important questions to ask is: how much money do you need to get started?

Payroll is one of the most critical, and often overlooked, aspects of running a business. It's also one of the most complex and time-consuming tasks that a business has to deal with.

As a small business owner, you will eventually want to scale up.

Scaling your business means growing it to a point where it can support more customers or clients, more employees, and ultimately make revenue.

Your operating profit margin is a measure of your business's profitability. It tells you how much profit your business generates from its operations, after deducting the cost of goods sold (COGS) and operating expenses.

A lot of small business owners don't think they need a financial consultant/advisor. They think that since they are just starting out, or their company is still relatively small, that they can manage their own finances without any help. However, this is not always the case. Let's take a look at some of the reasons why small businesses need financial consultants/advisors, so that you can decide whether or not you should invest in one.

The words "negative cash flow" certainly don't sound like much of a cause for celebration and truthfully, they often aren't. However, negative cash flow isn't always a cause for concern, either, and even when it is, there are steps you can take to rectify the situation.

Scaling up a business is exciting, but it's certainly not easy. It requires careful planning, strategizing and preparation. In this article, we'll go over some of the key differences between scaling and growth, how you can know when it's time to scale up and what steps you should take to prepare your business for maximum success.

If you're a business owner, then you need to know about double-entry accounting. This system is the foundation of modern accounting, and it's essential for understanding your financial statements.

In this blog post, we'll introduce you to double-entry accounting and explain how it works. Once you understand this, you'll be able to better manage your finances and make informed decisions about your business.

The biggest financial mistake that business owners make isn't about credit cards or spending or savings accounts.
- It's DIY accounting.

In this day and age, a strong online presence is a key ingredient for small business success. However, gone are the days when a few Facebook posts here and there would suffice to build an audience. Creating and maintaining an online presence for your business requires time, effort and careful strategy.
With that in mind, let's take a closer look at how you can develop an online presence that represents your business well and attracts a reliable stream of new customers.

As a small business owner, it pays to invest your capital wisely and grow your business steadily, whilst creating a financial buffer to protect your company during difficult times. However, with so many different investment options available, it can be difficult to know which ones are the best for you.

Where you have incurred business costs from a personal bank account or cash, as long as you have recorded the expense in the company records you can take this back from the company bank account (as long as the company has the cash available). There is no tax associated with this cost recovery and the important issue is to ensure you keep a receipt to show the valid business expense.

Our decisions are always informed by past experiences, even if only to a small extent. Understanding the relationship between your background and future choices can prove very beneficial.

Did you know that your accountant could do more than just help you with your taxes? In fact, accountants can help you with a variety of tasks, including bookkeeping, financial planning, and even business consulting. If you're not taking advantage of all the services your accountant has to offer, you're missing out on valuable assistance and wasting money.

In response to the various concerns voiced with regard to the present cost of living crisis, the Chancellor, Rishi Sunak, announced a raft of support measures in Parliament 26 May 2022. This update summarises the grants and other financial support packages provided to counter these concerns.

5 steps to take as a new Ltd Company

When starting a new business, it's critical to get the foundation right. Your journey as a business owner will be much smoother and simpler if you start off on the right track with your finances and accounting.