JB Accounts

02/06/2026

A lot of people file their Self Assessment in January, breathe a sigh of relief, and then get a shock when HMRC asks for nearly half as much again on top. Here is why that happens.

: Payments on Account

When your tax bill for the year is over £1,000, HMRC does not just collect what you owe. They also ask you to pay towards next year's bill at the same time, based on the assumption that your income will be similar.

This advance payment is split into two instalments. The first is due on 31st January alongside your existing tax bill. The second is due on 31st July.

So in that first January, you could find yourself paying up to 150% of your tax bill in one go. It is not a penalty or a mistake. It is just the way the system works, and it catches a lot of people completely off guard.

If your income drops in the following year, you can apply to reduce your Payments on Account. Worth talking to your accountant about before January comes around.

Drop a question in the comments if you want to know more, or let me know what term you would like me to translate next week.

26/05/2026

: Self Assessment

This week I am translating another term that seems to cause a lot of confusion, especially for people who are new to running their own business.

Self Assessment is the system HMRC uses to collect tax from people whose income is not taxed automatically through an employer. If you are self employed, a sole trader, or a director of a limited company, there is a good chance you need to complete one each year.

Basically, you fill in a tax return telling HMRC what you earned, and they work out what tax you owe. One thing that catches people out is thinking they need to pay as soon as they file. You can submit your return as early as 6th April and the payment deadline is still 31st January. Filing early just means no last-minute rush, not an early bill.

The online filing and payment deadline is 31st January each year, and missing it means an automatic fine.

If you are not sure whether Self Assessment applies to you, feel free to drop a question in the comments.

20/05/2026

"I've got plenty of time before the deadline."

I hear that one quite a lot.

The thing is, deadlines are usually just the final submission date. Before anything can be sent, there can be questions to answer, missing paperwork to find and checks to carry out.

A small delay can quickly become a bigger one without anyone meaning for it to happen.

I've written a new blog post about why getting paperwork organised earlier can save stress and avoid a last-minute panic.

Read it here:

Organising paperwork for your accountant earlier can save stress, avoid last minute panics and help keep your business records on track.

19/05/2026

: Turnover

I know how overwhelming accounting jargon can be. To help clear things up, I am starting a weekly series to translate common terms into plain English.

First up is Turnover.

Put simply, turnover is the total amount of money I have charged my customers. It is my "top line" figure before I have taken away any business expenses or tax.

If I invoice a client for £500, my turnover is £500.

I hope that helps. If there is a specific term you would like me to translate next week, please let me know in the comments.

14/05/2026

Most unusual and coolest swag at Accountex goes to

Never thought I would have my face made of chocolate.

I have had some really useful chats with people here and found some tools that I can use

12/05/2026

On my way to London for Accountex. Looking forward to seeing the latest updates in the industry and finding new ways to make things easier and more efficient for my clients.

01/05/2026

If you’re a dog walker and not sure how tax works, you’re definitely not alone.

It’s one of the most common questions I get when people first start out.

I’ve put together a simple guide that explains when you need to register, what tax you might pay and what to expect:

Dog walker tax UK guide. Find out when you need to register, what expenses you can claim and how tax works for dog walkers

29/04/2026

Went down to Charlestown this afternoon to take some pictures to put on here. Was a tad windy.

Believe it or not, these photos were taken from the same spot, just looking in different directions.

Met some lovely business owners and at the Charlestown Artisan Fayre before popping into The Craft Kiln and buying some fudge in Libby’s Fudge Charlestown

We have some fab businesses here in mid Cornwall and it's always good to get out there and meet new people.

28/04/2026

Where did the sun go?

We've had beautiful sunshine here lately and now the grey clouds are back.

As a small business owner, I know that keeping on top of your books can sometimes feel like those grey clouds are looming over you. If you would rather be focusing on your business than worrying about your accounts, I can help bring back the sunshine.

I offer a personal service to take the pressure off, covering everything from bookkeeping and year end accounts to tax returns, payroll, CIS, and VAT.

Let me take the paperwork off your plate so you can get back to what you do best.

If you are looking for an accountant who speaks your language, feel free to send me a message, give me a call on 01726 932182 or email me at [email protected].

20/04/2026

I've been out today meeting Jamie Horsley - OSL Financial Services at Chacewater Garden Centre. Always good to meet other small business owners so if anyone is looking for a mortgage, give Jamie a shout.