Is your VAT control system strong enough?

A strong VAT control system should clearly identify who is responsible for VAT, document the

Andrew Potts

September 3, 2026

Could company distribution rules change?

The tax rules concerning what constitutes a distribution for tax purposes have remained largely

Andrew Potts

September 3, 2026

Predevelopment costs on major developments

Businesses planning major infrastructure and development projects should be aware of a new

Andrew Potts

September 3, 2026

UK employers with overseas employees

UK employers with employees who normally work overseas may have PAYE and National Insurance

Andrew Potts

September 3, 2026

Received a P800 from HMRC?

HMRC is currently carrying out its annual reconciliation of PAYE for the 2025-26 tax year. Between

Andrew Potts

September 3, 2026

Summer VAT relief has ended

The temporary 5% reduced rate of VAT introduced for certain children’s meals, tickets and family

Andrew Potts

September 2, 2026

When a discretionary bonus becomes enforceable

Where an employee is promised a discretionary bonus as an incentive, an employer may be held liable

Andrew Potts

September 1, 2026

Company accounts are going fully digital

An important change is coming to the way companies file their annual accounts. From 1 April 2028,

Andrew Potts

September 1, 2026

How Is Your Business Performing?

The latest figures from the Office for National Statistics suggest that conditions remain

Andrew Potts

August 27, 2026

KP Simpson Named Finalist in National Apprenticeship Awards

KP Simpson Accountants & Business Advisors is proud to have been selected as a regional

Andrew Potts

August 27, 2026

KP Simpson Proud to Become Official Sponsor of Hebburn Town FC

KP Simpson Accountants & Business Advisors is proud to be an official sponsor of Hebburn Town

Andrew Potts

August 27, 2026

Evidence required to support business expense claims

Self-employed individuals can deduct allowable business expenses from their income when calculating

Andrew Potts

August 27, 2026

Have you reviewed your workers’ employment status?

Businesses should regularly review whether individuals working for them are correctly classified as

Andrew Potts

August 27, 2026

Benefits of claiming the Annual Investment Allowance

Businesses investing in qualifying assets may be able to claim the Annual Investment Allowance

Andrew Potts

August 27, 2026

Tax relief for uniforms and protective clothing

Employers providing uniforms or protective clothing to employees need to understand the tax and

Andrew Potts

August 27, 2026

What is a reasonable excuse for missing a tax deadline?

Missing a tax deadline can result in penalties from HMRC, but a taxpayer may be able to appeal if

Andrew Potts

August 27, 2026

Recovering VAT on pre-registration costs

Businesses that register for VAT may be able to reclaim VAT paid on certain goods and services

Andrew Potts

August 24, 2026

Are your employment policies ready for workplace reforms?

Employment law continues to evolve, and businesses should keep a close eye on forthcoming changes

Andrew Potts

August 24, 2026

Could your business survive a cyberattack?

Cybercrime is no longer a problem that only affects large organisations. Increasingly, small and

Andrew Potts

August 20, 2026

All online harassment is unacceptable, in any context

A recent ruling has determined that targeting individuals online, even on a private group chat, can

Andrew Potts

August 20, 2026

When to register for Corporation Tax

Companies and other organisations that are liable for Corporation Tax must ensure they register

Andrew Potts

August 20, 2026

Benefits of SEIS and EIS Advance Assurance

Businesses seeking investment through the Seed Enterprise Investment Scheme (SEIS) or Enterprise

Andrew Potts

August 20, 2026

Official rate of interest for beneficial loans

Employers providing loans to employees or directors need to ensure they correctly calculate any

Andrew Potts

August 20, 2026

Incorporation Relief may reduce your CGT bill

When a sole trader or partnership transfers a business to a limited company, a chargeable gain may

Andrew Potts

August 20, 2026

HMRC penalties for failing to notify a tax liability

If you become liable to pay a tax or register for a tax that HMRC has not already been informed

Andrew Potts

August 20, 2026

Tax relief on pension contributions for employees

Receiving tax relief on pension contributions into a workplace pension is a great way to help

Andrew Potts

August 17, 2026

Why successful businesses prepare before conditions improve

Economic uncertainty has affected the confidence of many small business owners. Rising costs,

Andrew Potts

August 17, 2026

Could better digital skills transform your business?

Technology is changing the way businesses operate, and the pace of change is only increasing. While

Andrew Potts

August 10, 2026

Tax Diary September/October 2026

1 September 2026 - Due date for corporation tax due for the year ended 30 November 2025. 19

Andrew Potts

August 10, 2026

Amending a mistake on your tax return

What happens if you discover a mistake on your tax return? The good news is that errors can usually

Andrew Potts

August 10, 2026

Tax breaks for company bikes

Employers can usually provide bicycles and cycling equipment to employees as a tax-free benefit.

Andrew Potts

August 10, 2026

Making the most of the £1,000 property allowance

The £1,000 property allowance is a helpful for individuals with small amounts of property income.

Andrew Potts

August 10, 2026

Is your business eligible to use cash basis accounting?

Cash basis accounting is a simplified method used by sole traders and other unincorporated

Andrew Potts

August 10, 2026

When do you pay Stamp Duty Land Tax?

Stamp Duty Land Tax (SDLT) is a tax that may apply when you buy land or property in England or

Andrew Potts

August 10, 2026

Could you save tax by making a Deed of Variation?

After someone dies, the beneficiaries may find that the way an estate has been distributed does not

Andrew Potts

August 10, 2026

Will your next finance application succeed?

Many successful businesses eventually reach a point where additional finance is needed. Whether the

Andrew Potts

August 10, 2026

Five practical ways to reduce business energy costs

Energy costs remain a significant overhead for many UK businesses. Although wholesale prices have

Andrew Potts

August 6, 2026

Making the most of the Employment Allowance

The Employment Allowance can help eligible employers reduce their National Insurance costs by up to

Andrew Potts

August 6, 2026

Records you should keep after submitting your tax return

After submitting your self-assessment return it is important to keep your records used to prepare

Andrew Potts

August 6, 2026

Tax relief if replacing tools or equipment

If you pay for replacing or repairing small tools you need for your job, you may be able to claim

Andrew Potts

August 6, 2026

Budget date announced

The new Chancellor of the Exchequer, John Healey has confirmed, in a video message, that the next

Andrew Potts

August 6, 2026

Are you paying unnecessary tax on foreign income?

UK taxpayers with income from overseas may not always be aware of the tax rules that apply.

Andrew Potts

August 6, 2026

Averaging profits if income fluctuates

Some self-employed individuals experience significant fluctuations in their profits from one year

Andrew Potts

August 6, 2026

Claiming the correct tax relief for work mileage

Employees who use their own vehicle for business journeys may receive Mileage Allowance Payments

Andrew Potts

August 5, 2026

Take care when painting non-compete clauses with a broad brush

Protecting hard-won local customer networks is a constant and necessary battle for commercial

Andrew Potts

August 3, 2026

Why uncertain times make business planning more important

Economic conditions remain uncertain and many business owners are understandably cautious about the

Andrew Potts

August 3, 2026

Is AI delivering real value for small businesses?

Artificial intelligence (AI) has dominated business headlines over the past year, with many

Andrew Potts

July 30, 2026

Tax-free childcare, are you missing out?

With childcare costs continuing to rise, many working families could be missing out on valuable

Andrew Potts

July 30, 2026

Claiming tax relief on professional training

Keeping your skills and knowledge up to date is important but the cost of professional training can

Andrew Potts

July 30, 2026

Do you need to pay tax on money received from family?

Receiving money from a family member can be a welcome source of financial support, but many people

Andrew Potts

July 30, 2026

Tax benefits of giving assets to charity

Most people are aware that cash donations to a charity can qualify for tax relief. However, it is

Andrew Potts

July 30, 2026

Have you checked your State Pension forecast recently?

Your State Pension forecast can help you plan for retirement by showing how much State Pension you

Andrew Potts

July 30, 2026

Payroll compliance – what is Full Payment Submission?

A Full Payment Submission (FPS) is a payroll report that employers must send to HMRC every time

Andrew Potts

July 28, 2026

Rising employment costs are changing business decisions

Employment costs continue to rise, and many small businesses are feeling the impact. Higher wage

Andrew Potts

July 28, 2026

Late payments still threaten small business cash flow

Late payments remains one of the biggest challenges facing small businesses across the UK. Even

Andrew Potts

July 23, 2026

Claiming tax relief on business insurance

If you are self-employed, you may be able to claim tax relief on certain business insurance costs

Andrew Potts

July 23, 2026

Are you using the best VAT scheme for your business?

Small businesses have several VAT schemes available that can simplify VAT administration and may

Andrew Potts

July 23, 2026

Is HMRC holding money that belongs to you?

It is important to know if HMRC is holding money that belongs to you. For example, if you have paid

Andrew Potts

July 23, 2026

Advising HMRC of change in circumstances

If your personal details or circumstances change, you may need to tell HMRC as this could affect

Andrew Potts

July 23, 2026

Self-Employed – Are your business records in order?

As a self-employed individual, whether a sole trader or partner, you must keep accurate records of

Andrew Potts

July 23, 2026

Does your business need to register as an employer?

If you are starting to employ staff or engaging subcontractors for construction work, you will

Andrew Potts

July 22, 2026

Don’t let discrimination lead to resignation or risk facing career compensation

A recent ruling has cleared the path to uncapped financial compensation following a forced

Andrew Potts

July 20, 2026

Could new VAT rules change how you sell online?

The Government has launched a consultation on proposals that could significantly change the way VAT

Andrew Potts

July 20, 2026

Has a pay rise quietly increased your tax bill?

Many employees and business owners have welcomed higher earnings over the past few years. However,

Andrew Potts

July 16, 2026

Do you know who must register for VAT?

Businesses must register for VAT if their taxable turnover exceeds the VAT registration threshold,

Andrew Potts

July 16, 2026

When does a hobby become a taxable business?

Not every hobby becomes a taxable business, but it is important to be aware when this can happen.

Andrew Potts

July 16, 2026

Could your business recover more VAT?

If your business is VAT registered, you can usually reclaim VAT on many of the goods and services

Andrew Potts

July 16, 2026

Is your spouse paying more tax than necessary?

Married couples and civil partners are taxed separately for Capital Gains Tax (CGT), meaning each

Andrew Potts

July 16, 2026

Could you claim tax relief for property repairs?

Property owners often incur costs for repairs, and understanding which costs can be deducted is

Andrew Potts

July 16, 2026

Are you maximising tax relief on company losses?

If your company makes a trading loss, it may be able to claim relief to reduce its Corporation Tax

Andrew Potts

July 13, 2026

Could your business survive a cyber attack?

Cyber-crime is no longer a problem faced only by large organisations. Small businesses are

Andrew Potts

July 13, 2026

Five ways AI can save you hours every week

Artificial intelligence (AI) is no longer just for large organisations. Many small businesses are

Andrew Potts

July 9, 2026

Making Tax Digital: Are you ready for your first quarterly deadline?

If you are already registered for Making Tax Digital (MTD) for Income Tax, it is important to

Andrew Potts

July 9, 2026

Employee benefits: Are you creating tax problems without realising it?

Providing benefits and covering expenses for employees is a common part of running a business, but

Andrew Potts

July 9, 2026

Could your savings generate a tax bill?

Most individuals can earn interest from their savings without incurring a tax liability thanks to a

Andrew Potts

July 9, 2026

Selling shares this year?

If you are selling shares or other investments, you may incur Capital Gains Tax (CGT) on any

Andrew Potts

July 9, 2026

Have you overlooked this valuable capital allowance?

If you have invested in a new commercial building or carried out significant renovation work, you

Andrew Potts

July 9, 2026

Are you claiming all your allowable business expenses?

If you are self-employed, claiming all of your allowable business expenses can reduce your taxable

Andrew Potts

July 8, 2026

Where do we draw the line between free speech and racism?

The volatile boundary between workplace speech, belief, and discrimination was recently ignited in

Andrew Potts

July 8, 2026

Tax Diary August/September 2026

1 August 2026 - Due date for Corporation Tax due for the year ended 31 October 2025. 19 August

Andrew Potts

July 6, 2026

When did you last check your credit rating?

Many business owners regularly monitor their bank balance, sales and cash flow, but overlook

Andrew Potts

July 6, 2026

Company filing penalties you should avoid

Most company directors are aware that they must file annual accounts and a confirmation statement

Andrew Potts

July 2, 2026

Child Benefit and the High Income Child Benefit Charge

The High Income Child Benefit Charge (HICBC) applies where an individual or their partner receives

Andrew Potts

July 2, 2026

Avoid 60% Income Tax band

A ‘60% Income Tax band’ can arises when an individual’s income exceeds £100,000 in a tax year. Once

Andrew Potts

July 2, 2026

Meaning of Carried Interest

Carried interest is essentially a share of the profits from an investment fund that is paid to the

Andrew Potts

July 2, 2026

Construction Industry Scheme responsibilities

The Construction Industry Scheme (CIS) is used within the UK construction sector to help manage

Andrew Potts

July 2, 2026

Don’t forget to pay your Class 1A NICs

Employers are reminded that Class 1A National Insurance contributions (NICs) for the 2025-26 tax

Andrew Potts

July 2, 2026

Meaning of Permanent Establishment

The term permanent establishment (PE) is an important tax concept for businesses that operate

Andrew Potts

June 29, 2026

Are you too dependent on one customer?

Many successful businesses begin by working closely with one major customer. While this can provide

Andrew Potts

June 29, 2026

Five ways to improve customer retention

Winning new customers is important, but many businesses overlook the value of keeping the customers

Andrew Potts

June 25, 2026

Employee travel expenses

There is no requirement to report certain travel and subsistence expenses where an exemption

Andrew Potts

June 25, 2026

Tax treatment of loans to employees

Employees may receive a taxable benefit where an employer provides a loan that is interest-free or

Andrew Potts

June 25, 2026

Company mobile phones and tax implications

When employers provide mobile phones to employees, it is important to understand the tax treatment

Andrew Potts

June 25, 2026

Understanding dividend tax

Understanding dividend tax is important for anyone who receives income from shares in a company.

Andrew Potts

June 25, 2026

Tax relief on professional subscriptions

Employees may be entitled to tax relief on certain professional fees and subscriptions that they

Andrew Potts

June 25, 2026

Investment Manager Exemption (IME)

The Investment Manager Exemption (IME) is a long-standing HMRC concession that helps attract

Andrew Potts

June 22, 2026

Companies House steps up enforcement activity

Companies House is entering a new era of enforcement as it begins making greater use of the powers

Andrew Potts

June 22, 2026

The benefits of Fair Payment Code accreditation

Getting paid on time remains one of the biggest challenges facing many small and medium-sized

Andrew Potts

June 18, 2026

Capital Gains Tax if selling shares or investments

Capital Gains Tax (CGT) is a tax on the profit you make when you sell or dispose of an asset that

Andrew Potts

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