Owl Accounting

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Chartered Accountants for
Self-emplyed 📇
Small and Medium size business 📈

25/03/2026

Hiring your child in your limited company… smart move or risky? 🤔

It’s 100% legal in the UK 🇬🇧
But ONLY if you do it properly.

✔ They must actually do real work
✔ You must pay a reasonable wage
✔ Keep records (just like any employee)

Done right, it can be a tax-efficient way to extract money from your company 💸

Done wrong… it could raise red flags with HM Revenue and Customs 🚨

Thinking of doing this? Make sure you get it set up correctly.

18/03/2026

UK Sick Pay Changes Coming – April 2026 📢

Here’s what’s changing 👇
• Sick pay from Day 1 – the 3-day waiting period will be removed.
• More employees qualify – the minimum earnings threshold is being scrapped.
• New calculation – employers will pay the lower of 80% of average earnings or the SSP rate.

What this means for businesses:
💷 Potentially higher payroll costs
📋 Updates to payroll systems and sickness policies

28/02/2026

Being an accountant in the 🇬🇧 UK right now? It’s basically a full-time job… on top of your full-time job. 😅📊

One minute you’ve nailed the rules, the next minute HM Revenue & Customs drops an update and suddenly it’s “plot twist!” 💥

Blink and you might miss something. 👀

But that’s what makes great accountants stand out, we don’t just crunch numbers, we stay curious, keep learning, and adapt faster than tax rates change. 📚⚡

In this profession, knowledge isn’t optional… it’s the real asset. 💼✨

21/11/2025

💡 Do you really know when your Corporation Tax is due?
A lot of people get this mixed up, so here’s the simple version:

📌 Corporation Tax is charged on your company’s profits, not your personal income.
📌 Your company tax return must be filed within 12 months after your accounting period ends.
📌 But the payment? It’s due 9 months and 1 day after year-end.

⚠️ Here’s what many miss:
If you don’t pay on time, HMRC starts charging interest from day one… and it won’t stop until the bill is cleared.
If you miss the filing deadline, penalties kick in — starting small but growing fast the longer you wait.

Staying on top of deadlines isn’t optional — it’s how you keep your cash where it belongs.
Stay organised. Stay calm. 💼✅

📊 Every £1 of sales needs a plan.Did you know the average net profit margin for UK restaurants is just around 4.2% in 20...
11/11/2025

📊 Every £1 of sales needs a plan.

Did you know the average net profit margin for UK restaurants is just around 4.2% in 2024?
That means for every £100 in turnover, only about £4.20 ends up as profit after all costs.

If you’re running a coffee shop or bistro doing, say, £400k turnover a year, that could be just £16,800 profit before tax.

With our tailored accounting & CFO services for hospitality venues, we help you push that margin higher by controlling food cost, labour and overheads.

👉 Slide through to see what your target margins should look like.

08/11/2025

💸Are you missing out on any tax allowances?

✨ £12,570 Personal Allowance – Earn this much before paying Income Tax
✨ £500 Dividend Allowance – Tax-free dividends from investments
✨ £1,000 Trading Allowance – For small side hustles or freelance work
✨ £20,000 ISA Allowance – Save or invest tax-free
✨ £9,000 Junior ISA – Help your kids save tax-free
✨ £60,000 Private Pension Allowance – Tax relief on pension contributions
✨ £3,000 Capital Gains Allowance – Profit from investments without paying tax

⏳ Deadline Alert! Don’t let your Self-Assessment sneak up on you.✅ Contact us now and stay stress-free!
03/11/2025

⏳ Deadline Alert!

Don’t let your Self-Assessment sneak up on you.
✅ Contact us now and stay stress-free!

🌿 Take a deep breath. You’ve handled chaos before — and you’ll turn this one into opportunity too. ✨Life doesn’t always ...
20/10/2025

🌿 Take a deep breath. You’ve handled chaos before — and you’ll turn this one into opportunity too. ✨

Life doesn’t always go to plan, but every storm you’ve faced has shaped your strength. This moment? Just another chance to rise, adapt, and create something even better. 💪💫

🎁💰 Smart Gifting Tip!Did you know you can gift money to your children completely tax-free? 🙌 There’s no gift tax on mone...
17/10/2025

🎁💰 Smart Gifting Tip!

Did you know you can gift money to your children completely tax-free? 🙌 There’s no gift tax on monetary gifts within the annual allowance — and if you live 7 years after making the gift, it’s exempt from inheritance tax too! 🌟

A simple way to pass on wealth tax-efficiently and give your loved ones a head start in life. ❤️💼

11/10/2025

🚗💡 UK business owners often ask:
“Is it better to buy a car through my limited company, or use my own and claim mileage?”

Here’s the truth 👇
Option 1: Company Car
If your company buys you a petrol or diesel car, HMRC treats it as a Benefit in Kind.
That means:
You pay income tax on the benefit 💸
The company pays 15% Class 1A NIC 💰
Yes, the company gets deductions on running costs and Corporation Tax…
👉 But the Benefit in Kind charge is often so high that it wipes out the advantage.
And the higher the car’s CO₂ emissions, the higher the tax.

Option 2: Private Car + Mileage
Buy the car privately and claim mileage allowance:
45p per mile for the first 10,000 miles, 25p after 🚙
Payments are tax-free for you and fully deductible for the company.
Example: 8,000 miles = £3,600 paid to you tax-free + £900 Corporation Tax saving for the company. ✅

⚡ The Exception: Electric Cars
For EVs, the Benefit in Kind rate is tiny (around 2% of list price). That makes a company car suddenly very tax-efficient.

👉 Takeaway:
Petrol/diesel cars? Usually better to keep them private and claim mileage.
Electric cars? A company purchase could be a great tax move.
Follow for more UK tax tips that save you money!

03/10/2025

Did you know you can legally hire your own child in your UK limited company?
Here’s what HMRC says 👇

From 13, kids can work – but with limits: only a few hours during school, up to 35 hours in summer, and no night or dangerous work.
At 16, they get full employee rights.
At 18, they’re treated like any other worker.
💼 Hiring your child in a limited company is possible, but…

The work must be real – think social media, admin, design, or website support.
Pay must be reasonable for their age – no inflated salaries.
Keep proper records: contracts, payslips, timesheets.
💡 Tax benefits:

Their wages reduce your company profit → lower Corporation Tax.
If you employ more than just the director, you may qualify for Employment Allowance – saving up to £10,500 in employer NIC.
Plus, your child has their own tax-free allowance (£12,500+) – so often, they won’t pay any tax at all.
⚠️ But beware:

HMRC will check if the work is genuine.
Local councils may require permits for younger kids.
Treat them like any employee – PAYE, payslips, NIC if thresholds are met.
✅ Done right, hiring your child is legal, tax-efficient, and teaches them valuable skills. Done wrong? HMRC trouble.

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