Latest Thinking

Across the legal sector, many firms have been reporting healthy revenues and strong profitability on paper, yet the same firms are still experiencing persistent cash pressure. Partner drawings feel tighter...

Most growing businesses treat compliance as a box-ticking exercise. Accounts filed. VAT submitted. Payroll processed. Deadlines met. Job done. But here’s what 40 years of working with professional services firms...

The Key Decision – Choosing How to Finance a Business Vehicle For many businesses, a vehicle is necessary to be able to visit clients, transport goods or simply for day-to-day...

The Latest Minimum Wage Position Minimum wage rates in the UK changed on 1st April 2025, meaning workers aged 21 and above are entitled to at least £12.21 per hour....

Current Income Tax Rates and Allowances For the tax year 2025/26, most taxpayers in England, Wales and Northern Ireland benefit from a personal allowance of £12,570. Anything earnt above this...

For many businesses, compliance sits quietly in the background. Accounts are filed, payroll runs are processed, VAT returns are submitted, and deadlines are met. It is easy to see compliance...

For many businesses, a partnership, such an LLP, offers flexibility that a company structure does not. As businesses grow, owners often want greater freedom around profit sharing, tax planning, and...

For many law firms, an SRA audit can feel like something to get through rather than something to prepare for strategically. There is often a concern about whether records are...

What’s Happening More than ever, law firms are now operating through limited companies. SRA statistics show that, as of late 2025, around 58% of regulated law firms are incorporated companies,...

What’s Happening? Residual client balances continue to reign as one of the most persistent compliance risks that law firms face in 2026. Despite years of guidance, repeated SRA communications and...

For many firms, the LLP has long been the default legal structure. It is familiar, flexible and well established across the legal sector. But as firms focus more closely on...

From the 2025/26 tax year, directors of close companies and self-employed taxpayers will have to provide more information in their Self Assessment tax returns than in previous years. These changes...

What’s Happening Companies House has now finalised its transition over to GOV.UK One Login across their core filing services. Since 13th October 2025, WebFiling users must sign in through the...

We regularly see professional service firms encounter the same accounting challenges. They may seem negligible, yet they can interfere with profit, increase tax and slow down year-end reporting. DSK Accountants...

From April 2026, the way many individuals report income to HMRC will change significantly. If you earn income from self-employment or property, this is a change in how your financial...

The government has announced a new package of measures designed to improve access to finance for creative businesses across the UK. The initiative aims to support firms operating in areas...

When planning pension funding, inflation is often acknowledged but not always fully reflected in contribution decisions. Using an average inflation rate of around 5% over recent years helps to illustrate...

There are several reasons why you might need to file a self-assessment tax return. This could apply if you are self-employed, a company director, have an annual income over £150,000,...

There are simplified expenses arrangements available for sole traders and business partnerships (with no corporate partner) that allow the use of fixed mileage rates instead of working out the actual...

The Annual Investment Allowance (AIA) is a generous tax relief that allows for the total amount of qualifying expenditure on plant and machinery to be deducted from pre-tax profits. The...

If you believe that you have overpaid tax to HMRC, you may be entitled to claim a tax refund. Overpayments can occur for a variety of reasons, including changes to...

If you have not yet checked whether you need to use Making Tax Digital (MTD) for Income Tax, you should do so urgently. HMRC has issued a timely reminder that...

Automatic enrolment for workplace pensions has helped many employees to start making provision for their retirement with employers and government also contributing to make a larger pension pot. The law...

The latest figures from the Office for National Statistics show that in 2025 the number of UK business births exceeded business deaths for a second successive year, pointing to a...

A claimant made allegations of unfair dismissal, discrimination, and detriment resulting from whistleblowing. While his claim against the Council was subsequently withdrawn early on, the claim against the private limited...

For many business owners, the focus is firmly on growth, profitability and day to day operations. Exit planning is often treated as something to think about later, perhaps a few...

When a couple separates or divorces, most attention focuses on the emotional and practical aspects. However, it is important to consider the tax implications of transferring assets, as these can...

In general, entertaining employees is an exception to the normal rule that business entertainment costs are not allowable for tax purposes. If an employer provides entertainment exclusively for employees and...

HMRC online services allow individuals, businesses and agents to manage tax matters securely over the internet. Using an HMRC online account, you can send information such as self-assessment tax returns...

HMRC has confirmed that more than 11.48 million people submitted their 2024-25 self-assessment tax returns by the 31 January deadline. This included 475,722 taxpayers who left their filing until the...