Frame Kennedy Accountants

25/05/2026

Monday Money Tip 💡

Did you know that if your self-employed income is £1,000 or less in a tax year, you don't need to report it to HMRC at all? This is called the Trading Allowance.

It's especially useful if you do occasional freelance or casual work on the side — selling crafts, a bit of tutoring, odd jobs. Under £1,000 and you're in the clear.

If you earn more than that, you'll need to register as self-employed and complete a Self Assessment return — but the good news is, we can take care of all of that for you.

25/05/2026

Following on from this earlier post, HMRC announced last week that the approved mileage rate has been increased to 55p per mile for the first 10,000 business miles. This can be backdated to 6 April 2026 but no change to the 25p rate for 10,001 miles and over. A little bit of good news for motorists 🚗🚕🚙

18/05/2026

Monday Money Tip 💡

Your limited company is its own legal entity — so it needs its own business bank account.

Mixing personal and business spending creates messy books, headaches at year end, and potential questions from HMRC. A dedicated business account keeps everything clean, clear, and easy to manage.

One of the simplest habits you can build — and one of the most valuable.

18/05/2026

A few words from one of our director’s Vicki Miller in today’s The Press and Journal. Thank you to Federation of Small Businesses - FSB for all your help.

Vicki Miller realised it was time to stop holding herself back and take chances. Read more: https://ebx.sh/z0eTfl

15/05/2026

Congratulations to Carolyn our payroll manager for her amazing performance at Strictly Inverness last night. Well done to all the team Thursday dancers and Highland Hospice inverness.ice.centre for a great night- hopefully lots of money raised 🎉

12/05/2026

Best of luck to Carolyn our Payroll Manager who is taking part in Strictly Inverness this Thursday.

11/05/2026

Monday Money Tip 💡

Do you use your own car for work? If so, you can claim back 45p per mile for the first 10,000 business miles you drive each year — and 25p per mile after that.

This is called the HMRC Approved Mileage Rate, and it's available to sole traders who use their personal vehicle for business journeys (not commuting to a regular workplace).

The key is keeping a record — even a simple note in your phone of date, destination, and miles will do. Those small amounts add up quickly over a year.

07/05/2026

04/05/2026

Monday Money Tip 💡

If you're self-employed, January can feel like a nasty shock when your tax bill arrives. The simplest way to avoid that? Set money aside as you go.

A good rule of thumb is to put 20–30% of every payment you receive into a separate savings account and leave it there. It's not your money — it's HMRC's. Treat it that way from day one and Self Assessment becomes far less stressful.

Not sure how much you should be setting aside? We're always happy to help.

30/04/2026

Team training day in the office today 📊

We’ve been getting stuck into all things S455, brushing up on the rules, latest updates, and common pitfalls.
If you’ve got any questions about S455 or how it might affect you or your business, feel free to drop us a message. We’re always happy to help.