Edward Harris Chartered Certified Accountants

Edward Harris Chartered Certified Accountants Specialist Accountants in Property, Trades & Construction.

29/05/2026

Thinking of taking money out from your company’s profits?
The process is not the same as a sole trader, but you can pay yourself in dividends.

There are steps you need to follow first:

A dividend is simply money paid from the company’s leftover profits to its shareholders.

Before taking a dividend:
✅ The company must have enough profits available
✅ A director’s meeting should be recorded approving the dividend
✅ A dividend voucher should be created showing how much is being paid

Once the paper work is done, the money can be transferred to the shareholders.

28/05/2026

Four business expenses you might be overlooking 👀

✅ Stationery- Things like envelopes, notebooks, printer paper, pens, and sticky notes used for the business.

✅ Toiletries for your office or workspace. Items like toilet paper, hand soap, cleaning products, and similar supplies for an office or commercial premises are usually allowable business expenses.

✅ Music streaming subscriptions. If the music is used purely for the business, for example in a café, barber shop, gym, or fitness studio, the subscription can be claimable.

✅ Glasses or contact lenses. These are only allowable in specific situations, such as when they’re prescribed specifically for work-related use such as working with computers or screen.

26/05/2026

HMRC doesn’t care what you buy through your business.

They care whether it was genuinely for the business.

That’s the key rule.
If the expense is “wholly and exclusively” for business purposes, it will usually be allowable.

For example:
• A laptop used for work
• Software subscriptions
• Tools and equipment

The problem is when people start putting personal expenses through the company with no real business reason.

That’s where HMRC may challenge it.

26/05/2026

Are you thinking about hiring staff soon? A lot of small business owners want to hire staff to grow the business, but many underestimate the true cost of employing someone.

It’s not just the salary.

You also need to consider:
• Employer’s National Insurance
• Pension contributions

These are things first time employers forget to factor in to their budget.

There could also be:
• Recruitment fees
• Training and onboarding costs
• Laptops, phones, software & equipment
• Employee benefits to attract and retain good staff

Hiring staff is an investment. The right employee can help grow the business, but if the numbers aren’t planned properly, payroll can quickly put pressure on cash flow.

Before hiring, make sure the business can comfortably support the full cost, not just the wage.
staff

22/05/2026

Mortgage interest relief for property investors with buy to lets in their personal name.

21/05/2026

Are you constantly struggling for cash in your business, even though sales look good?

There are usually a few key reasons behind it.

One of the biggest is owners drawings.

A lot of business owners take money out of the business without a proper plan, which can quietly drain cash flow over time.

Another common issue is high receivables.
You’ve made the sales, but the cash hasn’t actually hit the bank yet.
On paper the business looks profitable… but in reality cash is tight.

High asset purchases can also put pressure on cash flow.
Buying vans, machinery, equipment, or investing heavily too quickly can leave the business short on working capital.

Overbuying stock is another big one.
Too much money tied up in stock means less cash available for wages, suppliers, and day-to-day expenses.

And sometimes businesses focus too heavily on paying down long-term debt aggressively, which can reduce the cash available to operate comfortably.

Then there’s accounts payable.
If supplier payments aren’t managed properly, cash flow can become unpredictable very quickly.

The reality is…
Many businesses don’t fail because they aren’t profitable.
They struggle because cash flow isn’t being managed properly.

Understanding where your cash is going is one of the most important things you can do as a business owner.

20/05/2026

Business owners, are you running your business based on your bank balance?

I speak to so many business owners who still don’t have real visibility over their numbers.
And with the accounting software available today, that really shouldn’t be happening.

Your bank balance only tells you where the business is today.
It doesn’t tell you:
• what’s coming in
• what’s going out
• what tax is due
• whether profits are improving
• or if cash flow problems are around the corner

Having real-time financial data helps you make better decisions throughout the year, not just at year end.

For example:
You can compare this month’s sales to last month or last year and understand why revenue has increased or dropped.

You can review your expenses and spot patterns.

Did you have a large expense last July?
Is it likely to happen again this year?
And if so… have you planned for it?

The businesses that understand their numbers usually make better decisions, grow with more control, and avoid nasty surprises.

What gets measured gets improved.

And if you’re still running your business purely from your bank balance, now’s the time to change that.

17/04/2026

You can take £300 a year from your company
and pay ZERO tax on it.

No income tax.
No NIC.
No paperwork.

It’s called trivial benefits 👇

Think small… but smart.

👉 Dinner out
👉 Amazon vouchers
👉 Birthday gifts
👉 Coffee runs
👉 Bottles of wine

All paid by the company.

All tax-free.

But here’s where people mess it up…

👉 Each item must be £50 or less (including VAT)
👉 It can’t be cash
👉 It can’t be part of your salary
👉 It can’t be a reward for your work

⚠️ And this is the big one:

£50 = tax-free
£51 = fully taxable

Not just the extra £1…
👉 the whole amount

And for directors?
👉 You’re capped at £300 per year

Most people either:

* Ignore this
* Or accidentally make it taxable

If you want to use this without getting it wrong,
message me “£300” and I’ll show you exactly how.

16/04/2026

You can throw a staff party and claim tax relief on the cost!

Here’s how it works 👇

👉 You get up to £150 per person, per year
👉 This includes:
• Food
• Drinks
• Transport
• Accommodation

But here’s the catch…

🚫 It’s NOT an allowance

If you spend £151…
👉 the FULL amount becomes taxable

To keep it tax-free:

✔️ The event must be for staff (not just directors)
✔️ It must be open to all employees
✔️ It should mainly be for staff entertainment

Get it right and you get:

✅ No Benefit in Kind
✅ No tax for employees
✅ Corporation tax relief
✅ Potential VAT reclaim

Get it wrong?

❌ Employees get taxed
❌ Employer NIC applies

15/04/2026

HMRC will let your company pay for your meals… if you do this 🍽️

Most directors think meals = personal expense.

That’s not always true.

If you’re travelling for work…
your food can be 100% tax-free.

Here’s when it works 👇

👉 You’re on business travel
👉 Or working at a temporary workplace
👉 Or staying overnight for work

That means:

• Meals during the journey
• Food while at a temporary site
• Dinner if you’re staying away

Get this right and you get:

✅ No Benefit in Kind
✅ No personal tax
✅ No NIC
✅ Company gets tax relief

But here’s where people mess it up…

❌ Claiming everyday meals
❌ Claiming food at your normal workplace
❌ No proper records

14/04/2026

Your company can buy you a mobile phone
completely tax-free.

No Benefit in Kind.
No personal tax.
No NIC.

But only if you do it properly 👇

The rules:

👉 The contract must be in the company name
(Not yours personally)

👉 The phone is provided to you as an employee/director

👉 It’s limited to one phone per employee

Get this right and you get:

✅ Corporation tax relief
✅ VAT reclaimed (if applicable)
✅ No personal tax

Address

Prospect House
Oldham
OL96HT

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+447562518682

Website

https://linktr.ee/edward.harris1

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