http://www.infinityaccountancy.co.uk/

Infinity Accountancy, East Kilbride (2026)

03/06/2026

Managing Multiple Income Streams on Your Self-Assessment Return

If you're a UK sole trader earning from more than one source, your Self Assessment tax return gets complicated fast. Whether you're juggling freelance work alongside rental income, or running a side business on top of employment, every income stream needs to be declared correctly or you risk penalties from HMRC.

A few things that catch people out: failing to report all taxable income sources separately, missing out on allowable expenses that could reduce your bill, and not knowing which tax reliefs apply to your situation. Does your current set-up leave you second-guessing what to include? 💡

At Infinity Accountancy, our team works with self-employed professionals across the UK to make sure nothing gets missed and nothing gets overpaid. We handle the preparation and filing so you get it right, first time. Got a question about your own income streams? Drop it in the comments.

https://www.infinityaccountancy.co.uk

01/06/2026

Got a Letter from HMRC? Here's What to Do

Getting something through the post from HMRC can stop you in your tracks, but ignoring it is never the right move. Whether it's a simple notice, a payment demand, or a compliance check, each piece of correspondence requires a specific response, and the clock is often ticking from the moment it lands on your desk. 🗂️

The key is knowing what type of letter you're dealing with. A coding notice affects your tax code and how much is deducted from income. A payment demand means HMRC believes you owe a specific amount and expects action quickly. A compliance or enquiry letter means they want to review your records, which requires a careful, well-documented response. Getting any of these wrong, or leaving them unanswered, can lead to penalties that are easily avoided. Have you ever received HMRC correspondence and felt unsure where to even start?

At Infinity Accountancy, our team works with business owners and self-employed professionals across the UK, handling exactly these situations so you don't have to. From self-assessment queries to VAT notices and CIS compliance, we've got over 40 years of collective experience keeping our clients on the right side of HMRC. What's the most stressful part of dealing with HMRC for your business? Let us know below. 👇

https://www.infinityaccountancy.co.uk

28/05/2026

Entrepreneurs' Relief vs Business Asset Disposal Relief 💼

If you're planning to sell your business or business assets, understanding the difference between Entrepreneurs' Relief and Business Asset Disposal Relief (BADR) could save you a significant amount in Capital Gains Tax. These two terms are often used interchangeably, but BADR is the current name (Entrepreneurs' Relief was rebranded back in 2020) and the rules around qualifying for it matter more than ever.

BADR can reduce your CGT rate to 10% on qualifying gains, but you need to meet strict criteria around ownership periods, minimum shareholding, and your role within the business. Miss one of those conditions and you could face a much higher tax bill than expected. Are you confident you know whether your business sale would qualify? Many UK business owners aren't, and that's where proper advice makes all the difference.

At Infinity Accountancy, our team works with business owners across the UK on annual accounts, tax returns, and self-assessment, making sure you're not leaving money on the table. 🧾 What's your biggest concern when it comes to tax planning for your business? Drop it in the comments.

https://www.infinityaccountancy.co.uk

26/05/2026

R&D Tax Relief: Is Your UK SME Missing Out?

Many UK business owners don't realise they could be claiming Research and Development (R&D) tax relief from HMRC, even if they're not in a lab or tech company. If your SME has worked on developing or improving a product, process, or service, there's a good chance you qualify.

R&D tax relief can significantly reduce your Corporation Tax bill, or in some cases result in a cash payment from HMRC. The key is knowing what counts as qualifying activity and making sure your claim is accurate and compliant. Are you confident you're not leaving money on the table? 💡

At Infinity Accountancy, we work with SMEs right across the UK, helping business owners cut through the complexity of tax legislation so they can focus on running their business. Have you ever looked into whether your business could make an R&D claim? Drop a comment below, we'd love to help point you in the right direction.

https://www.infinityaccountancy.co.uk

22/05/2026

Company Director? Here's What the Law Expects of You

Taking on a directorship comes with real legal weight, and many business owners don't realise the full extent of their financial obligations until something goes wrong. As a company director in the UK, you are personally responsible for ensuring your company files accurate accounts and tax returns on time, maintains proper financial records, and stays fully compliant with HMRC. These aren't optional duties, they're legal requirements.

That means staying on top of corporation tax deadlines, VAT obligations if your turnover crosses the threshold, payroll compliance including auto-enrolment, and your own Self Assessment return. Are you confident your financial responsibilities are fully covered? If managing all of this alongside running your business feels like too much, that's exactly where we come in. 💼

https://www.infinityaccountancy.co.uk

20/05/2026

What Is a P11D? Here's What Employers Need to Know

If you provide employees with company cars, private healthcare, or any other perks outside of their salary, you're likely required to submit a P11D to HMRC — and missing the deadline can mean penalties.

A P11D is the form employers use to report Benefits in Kind (BiK) — things like fuel allowances, gym memberships, or interest-free loans given to employees or directors. HMRC uses this information to calculate the correct tax and National Insurance owed. Do you know which benefits your business is currently reporting, or whether you're missing any that should be declared? 🤔

At Infinity Accountancy, we work with businesses across the UK, taking the stress out of payroll, tax returns, and HMRC compliance — so you can focus on running your business. Got questions about P11D reporting or benefits in kind? Drop them in the comments or get in touch with our team. 👇

https://www.infinityaccountancy.co.uk

18/05/2026

VAT Domestic Reverse Charge: What Construction Businesses Need to Know 🏗️

If you're a contractor or sub-contractor in the UK, the VAT Domestic Reverse Charge (DRC) changes how VAT is handled on construction services, and getting it wrong can cause serious headaches with HMRC.

Under the DRC, the responsibility for accounting for VAT shifts from the supplier to the customer. That means sub-contractors no longer add VAT to their invoices for in-scope work, and contractors account for it directly on their own VAT return. The key things to get right are: identifying whether your supply falls within the CIS scope, confirming your customer is VAT-registered, and making sure your invoices are clearly marked as a reverse charge supply. With over 40 years of collective experience supporting UK construction businesses, Infinity Accountancy handles both CIS compliance and VAT returns, so nothing slips through the cracks. Are you confident your invoices are set up correctly for the reverse charge? Or is this something you've been putting off sorting out? 💬

https://www.infinityaccountancy.co.uk

14/05/2026

VAT Registration in the UK: What You Need to Know

Most business owners only think about VAT registration when they're already past the threshold — and that's where things get stressful. If your taxable turnover exceeds £90,000 in a 12-month rolling period, you're legally required to register for VAT with HMRC. The process involves submitting an online application through your Government Gateway account, selecting the correct VAT scheme for your business, and then managing quarterly returns from that point forward. Getting the scheme wrong from the start can cost you more than it should. 🎯

Once registered, you'll need to charge VAT on applicable sales, submit returns on time, and keep digital records under Making Tax Digital rules. It's more ongoing admin than most people expect. Are you confident your business is on the right VAT scheme, or is it something you've never really reviewed? Our team across the UK handles the full process, from initial registration right through to efficient, compliant VAT return management — so you can get back to running your business.

https://www.infinityaccountancy.co.uk

12/05/2026

Annual Investment Allowance: Are You Claiming What You're Owed? 💰

Most UK SME owners are sitting on unclaimed tax relief right now. The Annual Investment Allowance (AIA) lets your business deduct the full cost of qualifying capital purchases (plant, machinery, equipment) from your taxable profits in the same year you buy them, rather than spreading relief over several years. With the current AIA limit at £1 million, that's a significant reduction in your Corporation Tax or Income Tax bill.

So what counts? Machinery, tools, commercial vehicles, and office equipment are among the qualifying assets. The relief applies in the tax year of purchase, meaning timing your capital spending wisely can make a real difference to what you owe HMRC. Are you planning any equipment purchases before your year-end? Getting the timing right could save you considerably. At Infinity Accountancy, our team works with SME owners across the UK to make sure allowances like AIA are fully claimed and correctly reported, so nothing is left on the table. 📋

https://www.infinityaccountancy.co.uk

08/05/2026

CapEx vs RevEx: Is Your Tax Return Getting It Right?

Misclassifying your business spending is one of the most common mistakes that catches small business owners out at tax time. Capital expenditure (CapEx) covers long-term assets like equipment, machinery, or vehicles, while revenue expenditure (RevEx) covers day-to-day running costs like rent, utilities, and stock. Get the two mixed up, and your tax return could be wrong, potentially costing you money or triggering unwanted HMRC attention. 🧾

The distinction matters because each type is treated differently for tax relief purposes. Are you confident your expenses are being recorded in the right category? If you're not 100% sure, it's worth getting a professional to check before you file. Infinity Accountancy works with SMEs and self-employed professionals across the UK, handling accounts and tax returns so nothing slips through the cracks. What's one business expense you've always been unsure how to classify? Drop it in the comments and we'll point you in the right direction. 💼

https://www.infinityaccountancy.co.uk

Infinity Accountancy

03/06/2026

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