Accounting Blog

Learn how to record income from bundled service packages with clear, practical guidance. This article explains identifying bundle components, allocating prices, handling setup versus ongoing services, managing deferred revenue, and choosing the right recognition pattern so revenue matches performance, improves accuracy, and supports consistent monthly financial reporting for growing businesses.

Wondering if business coaching or mastermind group fees are tax deductible? This guide explains when coaching expenses can be claimed, how tax authorities assess business versus personal use, common red flags, apportionment rules, and practical documentation tips to help business owners support legitimate deductions with confidence and reduce audit risk.

Regretting voluntary VAT registration is common for small businesses. This guide explains what changes after you register, why pricing, cash flow, and admin cause regret, whether you can deregister, and how to minimise damage or decide if staying VAT-registered still makes financial sense.

Learn how to account for Klarna and other buy now, pay later (BNPL) services correctly. This guide explains revenue recognition, cash vs accrual accounting, clearing accounts, fees, refunds, reserves, and tax treatment, with practical journal entry examples for ecommerce and service businesses using Klarna-like payment methods.

Wondering if podcasting or video equipment is tax deductible? This guide explains when microphones, cameras, lighting, software, and studio gear can be claimed as business expenses. Learn about capital versus running costs, mixed personal use, recordkeeping, and how tax authorities assess business-related content creation.

Learn what counts as “office supplies” for tax purposes and how to claim stationery and consumables as deductible business expenses. This guide covers qualifying items, the “wholly and exclusively” rule, mixed-use apportionment, supplies vs equipment, bulk-buy timing, and best-practice recordkeeping to maximise legitimate deductions while staying compliant.

When HMRC challenges your expense claims as a sole trader, understanding why and how to respond matters. This guide explains common HMRC checks, the wholly and exclusively rule, organising evidence, handling high-risk expenses, correcting mistakes, and responding calmly to reduce tax risk, penalties, and stress during compliance checks and enquiries.

If you’re self-employed part-time in the UK, National Insurance depends on profit, not hours worked. This guide explains when NI applies, how it interacts with PAYE jobs, key thresholds, and whether paying voluntarily can protect your State Pension while avoiding overpaying or unexpected tax bills as a side business income.

Wondering if you can claim your personal iPad or tablet as a business expense? This practical guide explains when you can claim costs, how to apportion business versus personal use, capital asset rules, subscriptions and accessories, and how self-employed people, company directors, and employees should approach defensible tax claims confidently.