Accounting software is great for bookkeeping, but it doesn’t replace expert advice. An accountant ensures your figures are correct, helps you stay compliant with HMRC, and finds tax-saving opportunities software can’t spot.

You should keep invoices, receipts, bank statements, and payroll records for at least 6 years. HMRC can request to see them during a review or investigation.

Yes. You can claim part of your household costs — such as electricity, broadband, and rent — based on how much of your home is used for business. The method depends on your business setup and space used.

Set aside a percentage of income for tax as you go, issue invoices promptly, and review aged debtors regularly. Using cloud software can also help track cash flow in real time.

Contractors deduct 20% or 30% tax from your payments and pass it to HMRC. At the end of the tax year, your accountant can offset this against your tax liability or help you reclaim any overpayment.

You must verify subcontractors with HMRC, deduct the correct tax, and file monthly CIS returns. You’ll also need to issue payment and deduction statements to each subcontractor.

Common expenses include tools, protective clothing, materials, travel costs, public liability insurance, and accounting fees. Always keep receipts to support your claims.

It depends on the vehicle and how it’s used. Leasing can offer better short-term cash flow and VAT recovery, while buying outright can bring long-term savings and capital allowances — especially for electric vehicles.

You must register once your taxable turnover exceeds £90,000 (2024/25). Depending on your size and industry, you may benefit from the Flat Rate or Annual Accounting VAT schemes.

Most directors take a small salary (for NI and pension benefits) plus dividends to stay tax efficient. The best split depends on your income level and company profits, your accountant can calculate the most efficient mix for you.