Frame Kennedy Accountants

15/06/2026

Monday Money Tip 💡

If your business has recently VAT-registered, you may be able to reclaim VAT on certain purchases made before you even registered — up to 4 years back for goods you still have them, and 6 months for services. A lot of businesses don't realise this and miss out. It's worth checking what you've got receipts for.

11/06/2026

If you have any questions on how the new rate should be applied or whether it applies to your business please get in touch. We're happy to help.

08/06/2026

Monday Money Tip 💡

Limited companies can save on Corporation Tax by making pension contributions directly through the business. Unlike taking a salary bonus, company pension contributions are usually a deductible business expense — so the business pays less tax and your future self benefits too. Worth a conversation with your accountant (and your financial advisor).💡

08/06/2026

https://makingtaxdigital.campaign.gov.uk/quarterly-updates/

Check the key dates for Making Tax Digital and make sure you're ready for the new way of reporting income and expenses.

03/06/2026

📢 QuickBooks Self-Employed is being retired
Say hello to QuickBooks Sole Trader Plus – the new solution designed to help sole traders and landlords stay on top of their finances and get ready for Making Tax Digital (MTD) for Income Tax.
✅ Track income and expenses
✅ Create invoices and estimates
✅ Capture receipts on the go
✅ Log mileage automatically
✅ Connect your bank accounts
✅ MTD-ready for upcoming HMRC requirements
If you're currently using QuickBooks Self-Employed, your historical data can be migrated to the new platform, helping you make a smooth transition.
Need advice on whether Sole Trader Plus is right for your business? Get in touch – we're happy to help.

01/06/2026

Monday Money Tip 💡
If you work from home as a sole trader, HMRC lets you use a flat rate to claim household costs without having to work out exact bills. It's called the simplified expenses method — £10 a month if you work from home 25–50 hours, rising to £26 for over 100 hours.
Simple, no receipts needed, and easy to claim on your Self Assessment.

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.