Update October 2026: this report reflects the 2025/26 tax year. From April 2026 the approved mileage rate for cars and vans is 55p per mile for the first 10,000 business miles (25p thereafter, rising to 35p from April 2027). The official rate of interest for beneficial loans is 3.75% from 6 April
Use Of Home Expenses – What is Allowable?
The HMRC (Her Majesty's Revenue and Customs) allows you to claim certain expenses related to the use of your home for work purposes. These expenses can be claimed as a deduction from your taxable income, which can reduce the amount of tax you have to pay. The following expenses are allowable for the
Expenses for Small Business: Reduce Tax and Boost Your Bottom Line
By understanding the types of expenses you can claim as deductions, you can effectively lower your taxable income and keep more money in your business's pocket. Office Expenses From office supplies and stationery to rent and utilities, a range of office-related expenses can be claimed. Whether
How To Write A Business Plan
Writing an effective business plan helps you in the following ways; Think through your business idea A business plan forces you to think through your business idea in a comprehensive and systematic way. This can help you identify potential problems and challenges before you launch your business. Set
Best Business Books
Advanced business knowledge is not exclusive to MBA programs. You have the ability to learn everything necessary for success in life and the workplace on your own. The Personal MBA presents a curated selection of the finest business books, meticulously chosen after extensive research spanning over a
How to use Dext
A good guide is captured in this short video; You upload invoices and receipts by the following three methods;
Director’s Loan Accounts (DLA)
Updated October 2026: corrected and revised for 2026/27. For a fuller guide, read Understanding Director's Loan Accounts. A Director's Loan Account (DLA) is the record of money and assets passing between a company and its director that is not salary, dividends or reimbursed business expenses. It
What are Dividends
Updated October 2026: tax rates revised for the 2026/27 tax year. A company must have sufficient distributable profits to pay a dividend. Distributable profits are the company's accumulated profits that are available for distribution to shareholders, after accounting for any losses, taxes, and
Claiming VAT on Mileage
Updated October 2026: mileage rates revised following Budget 2026. If you are an employee or a director and use your own car for business travel, your company can reimburse you tax-free at the approved mileage rates: 55 pence per mile for the first 10,000 business miles in each tax year (from April