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Reclaiming VAT on Business Fuel: What You Need to Know

Wingateaccountants04 Sep, 2025Business

If your business uses vehicles for work-related journeys, you may be eligible to reclaim VAT on the fuel you purchase. However, as with many areas of tax, there are specific conditions and calculation methods you must follow. In this guide, Wingate Accountants breaks down your options and obligations—so you can reclaim VAT correctly, efficiently, and in line with HMRC rules.

How Directors Can Borrow from Their Company Tax-Efficiently

Wingateaccountants04 Sep, 2025Business

For directors of owner-managed or family-run businesses, accessing cash flow can often be achieved through a director’s loan from the company. When done correctly, this method can provide personal liquidity at minimal cost—often far cheaper than traditional lending. While there are tax rules to navigate, careful planning can result in significant savings.

Turn Your CIS Tax Return in the UK into a Cash Flow Advantage

Wingateaccountants02 Aug, 2025Business

For contractors and subcontractors in the UK, the Construction Industry Scheme (CIS) tax return is a familiar obligation. It’s often viewed as just another administrative task. Yet, at Wingate Accountants, we see it as a strategic tool. CIS tax return in the UK holds benefits that go beyond compliance.

HMRC Disclosure in London: Fix the Past, Fund the Future

Wingateaccountants02 Aug, 2025Business

Tax disclosures with HMRC can feel like stepping into uncharted territory. For London’s busy contractors and small business owners, the process often seems like a bureaucratic hurdle. But at Wingate Accountants, we view HMRC tax disclosure in London as more than ticking boxes.

Purchase of Own Shares: The Tax Pitfalls You Must Avoid

Wingateaccountants17 Jul, 2025Business

A Company Purchase of Own Shares (CPOS) can be an appealing and tax-efficient method for a shareholder to exit a business particularly on retirement or succession planning. However, if executed incorrectly, what seems like a straightforward transaction can lead to unintended and costly tax consequences. This article explores a recent case where things didn’t go to plan, and the lessons business owners and directors can learn from it.

Winding Up Companies: New Anti-Avoidance Rules You Need to Know

Wingateaccountants17 Jul, 2025Business

With the introduction of new anti-avoidance measures from April 2016, many company directors and business owners have questioned whether winding up a company remains the tax-efficient route it once was. There has been a notable buzz—particularly among insolvency practitioners—about perceived changes to Entrepreneurs’ Relief and Capital Gains Tax (CGT), prompting calls for Members’ Voluntary Liquidation (MVL) before the deadline. However, a closer look at the legislative changes reveals a more nuanced picture.

Introducing Your Spouse or Civil Partner Into Your Business: Employee or Partner?

Wingateaccountants17 Jul, 2025Business

When running a small or family business, it’s not uncommon to consider involving your spouse or civil partner in the operations either by employing them or introducing them as a business partner. While the instinct might be to pay them a salary for basic tasks, there could be greater tax efficiency in granting partnership status. This article explores both options and outlines the key differences from a tax, compliance, and risk perspective.

Understanding Annual Accounts for Limited Companies in the UK

Wingateaccountants14 Jul, 2025Business

In the UK, all limited companies are legally required to prepare and submit annual accounts every year. These accounts give a clear overview of your company’s financial health and help ensure compliance with legal and tax obligations. Depending on the complexity and size of your business, you might manage your accounts yourself or hire accountants to handle this important task.

What You Need for Your 2024/25 Self-Assessment Tax Return – Income Checklist & Deadlines

Wingateaccountants02 Jul, 2025Business

The pandemic highlighted the need for businesses to adapt quickly. Cloud-based tools became vital to stay operational, and digital accounting platforms helped businesses keep track of finances, stay compliant, and make informed decisions — even when teams were miles apart.

Why UK Businesses Must Go Digital with Their Accounting (and How It’s Already Changing Everything)

Wingateaccountants02 Jul, 2025Business

Over the past five years, UK businesses have experienced a dramatic shift in how they operate and manage finances. From economic turbulence to the overnight switch to remote work during COVID-19, agility has become essential. One clear trend has emerged: digital accounting is no longer optional — it’s a necessity.