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Corporation tax, dividend tax and director's loans all changed for 2026/27 — and if your company's profits sit between £50,000 and £250,000, you're paying an effective rate of 26.5% whether you realise it or not. This complete guide covers corporation tax rates and marginal relief, the best way to pay yourself as a director, allowable expenses, benefits in kind, company cars, pensions, capital allowances, R&D relief, VAT, IR35, closing a company and every key 2026/27 deadline. Whether you're weighing up salary versus dividends or simply want to know what's changed since last year, this is your one-stop reference. Read the full guide, then get in touch with Cannon Accountants if you'd like your own figures checked against it.
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When it comes to VAT, the rules on reclaiming input tax can be tricky — especially when it involves entertaining customers. While VAT on business expenses is generally recoverable, HMRC places strict limitations on VAT recovery for business entertainment. However, there is a key exception when it comes to entertaining overseas customers. In this post, we’ll break down what qualifies as business entertainment, when VAT can be reclaimed, and provide real-world examples to illustrate the rules in practice.
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The UK Government has announced significant changes to National Insurance contributions (NICs) and the Employment Allowance, set to take effect from 6th April 2025. These changes are aimed at strengthening public finances while continuing to support businesses and public services.
Directors of UK companies are classed as employees for National Insurance (NI) purposes and must pay contributions on their salary and bonuses once their annual earnings exceed the primary threshold of £12,570. These contributions are deducted at specific rates depending on the level of earnings, ensuring that directors contribute towards state benefits and pensions.
The Apprenticeship Levy is a tax introduced by the UK government to encourage businesses to invest in apprenticeships and improve workforce skills. This guide outlines what the levy is, who needs to pay it, how it is calculated, and how businesses can use the funds effectively.
We are experienced certified accountants in Kent that are committed to helping small businesses achieve growth.
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