Business Is Booming - Now What?
So, your business is growing, high five! You’re landing more clients, making more sales, and feeling like a total boss.
But hold up!
While you're out there smashing your business goals, have you checked in on your tax game? Trust me; HMRC doesn’t care how busy you are; they want their cut.
If you don’t stay on top of your business tax responsibilities, you could be looking at unnecessary stress, surprise bills, and even fines (yikes!).
So let’s break it down in a way that won’t make you want to snooze.
1. Business structure makes a difference to your business tax: Are you playing it smart?
Your business is scaling, but is your structure keeping up? Being a sole trader is simple, but it means you’re personally responsible for any business mishaps.
A limited company, on the other hand, might save you tax and protect your personal assets.
Here’s a tip. If your profits are growing, it might be time to switch things up. Talk to an accountant and see what structure suits your business best. You can WhatsApp us about this.
2. Corporation Tax: What’s changed?
Here’s the deal: as of 2025, corporation tax rates are 19% for small profits under £50k, but jump to 25% if you're raking in over £250k.
If you're somewhere in between, you’ll pay a tapered rate.
So, if your profits are climbing, you need a tax strategy that ensures you’re not handing over more than you need to.
3. VAT: Are you on the right side of the key threshold?
Hit that magic £90,000 turnover threshold and boom—you need to register for VAT. But don’t just register and forget about it. Different VAT schemes could work in your favour:
A flat rate scheme – Great for small businesses looking for simplicity.
Cash accounting – Helps with cash flow by paying VAT only when you get paid.
Standard VAT accounting – For businesses with bigger expenses who want to reclaim VAT.
Don’t let VAT trip you up!
Keep an eye on your revenue and make sure you’re not missing out on savings.
4. Payroll & PAYE: Paying your team (and yourself!) right.
If you have employees then you need PAYE to handle their tax and National Insurance.
Plus, let’s not forget about auto-enrolment pensions—HMRC loves those.
And if you’re the boss (duh), are you paying yourself tax-efficiently?
The right mix of salary + dividends can help you keep more of your hard-earned cash instead of giving it all to the taxman.
And we don’t want that!
This is our Payroll Queen
aka Stacey Matoshi - she will make sure you get paid right and on time.
5. Expenses: Claim what’s yours!
Business expenses aren’t just a boring admin task.
They’re the secret to lowering your business tax bill!
From office rent and travel to software subscriptions and marketing costs, make sure you’re claiming EVERYTHING you’re entitled to.
6. Cash flow & business tax planning:
Dodge those nasty surprises that can, and will, catch you out!
There’s nothing worse than getting hit with a giant tax bill when you least expect it. Keep yourself stress-free by:
Setting aside money for VAT and tax throughout the year. Maybe consider paying a monthly amount into Premium Bonds. Your money is accessible to draw when you need it and while it’s in there, could make a little win for you. You never know.
Planning ahead for corporation tax and self-assessment deadlines.
Using tax-efficient investments like pensions to reduce your liabilities.
7. Don’t wing it—Get the right accountant!
Look, tax rules are complicated (and change all the time).
The best investment you can make?
A rockstar accountant who makes sure you:
✔️ Stay compliant
✔️ Maximise tax savings
✔️ Avoid costly mistakes
✔️ Focus on growing your business stress-free
In summary…
Your business is flying high, and that’s amazing!
But if your business tax game isn’t as sharp as your sales skills, you could be losing money without even realising it.
Stay on top of things, plan ahead, and make sure you’re keeping more of what you earn.
Need help? Don’t be shy— WhatsApp us today and make sure your business is in top financial shape.