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

Infinity Accountancy, East Kilbride (2026)

06/08/2026

🔋 Our Recharge mode:

IS ON!!!

Jo and Lynn are taking a well-earned break to rest, reset and recharge their batteries—but don’t worry, the business is in safe hands!

While they’re away, Grant is running the show and will be on hand to answer any questions and enquiries. ✨

Please don’t hesitate to dm us for any of your Accountancy needs 🤩

06/08/2026

Your Balance Sheet Explained: Assets, Liabilities & Equity

Most UK business owners can read a profit and loss statement, but hand them a balance sheet and it's a different story. For the 2026/27 tax year, understanding your balance sheet isn't just good practice. it's essential for making smarter decisions and staying compliant with HMRC. 📊

Here's the quick version: Assets are everything your business owns (cash, equipment, invoices owed to you). Liabilities are everything it owes (loans, VAT due, outstanding supplier bills). Equity is what's left once you subtract one from the other, and it tells you the real financial position of your business. If your liabilities are creeping up on your assets, that's a warning sign worth acting on. Do you regularly review your balance sheet, or is it something that only gets looked at when your accountant asks for it?

At Infinity Accountancy, our team works with SME owners across the UK, handling everything from bookkeeping and VAT returns to annual accounts and tax returns, so the numbers always make sense and nothing gets missed. 💼 If your 2026/27 accounts feel like a headache waiting to happen, let's take that off your plate.

https://www.infinityaccountancy.co.uk

31/07/2026

Pre-Trading Expenses: Don't Leave Money on the Table 💰

Most new UK business owners don't realise that costs spent before they officially started trading can be claimed on their first tax return. For the 2026/27 tax year, this is worth getting right from the start.

HMRC allows you to claim pre-trading expenses as if they were incurred on the first day of trading, but only if they were wholly and exclusively for business purposes. That covers a lot more than people think. Website setup costs, tools and equipment purchased before launch, professional fees (such as legal or accounting advice), marketing materials, and even relevant training can all qualify. The general rule is that the expense must have been incurred within seven years before your business start date, and you must be able to evidence it. Missing these claims is essentially leaving your own money with HMRC.

Are you confident you've identified every pre-trading cost you're entitled to claim? If you've recently started a business across the UK and want to make sure your first tax return is filed correctly and efficiently, the team at Infinity Accountancy can handle the whole process for you. What was the first business cost you paid before you officially launched? Drop it in the comments below.

https://www.infinityaccountancy.co.uk

29/07/2026

Still Running Your Books on Paper in 2026? Here's Why That's Costing You More Than You Think

Moving from paper-based bookkeeping to digital accounting is one of the smartest decisions a UK small business owner can make in the 2026/27 tax year. HMRC's Making Tax Digital (MTD) initiative continues to expand, and businesses still relying on manual records are facing greater compliance risk, more admin time, and a real chance of costly errors on VAT returns, payroll submissions, and Self Assessment filings.

Here are three practical steps to make the switch smoother: 1) Digitise your existing records first before moving to any software platform. 2) Separate your business and personal transactions clearly to avoid headaches at year-end. 3) Work with a professional bookkeeper to set up your chart of accounts correctly from day one, so your figures are clean and HMRC-ready. Getting this foundation right means your VAT returns, payroll, and annual accounts all flow from accurate data rather than scrambled spreadsheets. Are you currently managing your books manually, and if so, what's the biggest challenge stopping you from going digital? 💡

At Infinity Accountancy, we support SMEs right across the UK with bookkeeping, VAT returns, payroll, CIS, and Self Assessment. Not sure where to start with the transition? Drop us a message or get a free, no-obligation quote today.

https://www.infinityaccountancy.co.uk

27/07/2026

CIS and Sole Traders: What You Need to Know in 2026/27

If you're self-employed in the construction industry, the Construction Industry Scheme (CIS) directly affects how you get paid and how much tax is deducted at source. Under CIS, contractors are required to deduct tax from your payments before you receive them, either at 20% if you're registered, or 30% if you're not. That's a significant difference, and it's one that catches a lot of sole traders off guard.

Getting registered, filing correctly, and reclaiming any overpaid tax through Self Assessment are all part of managing CIS properly in the 2026/27 tax year. Miss a step, and you could be leaving money on the table or falling foul of HMRC. At Infinity Accountancy, we work with contractors and sub-contractors right across the UK, handling CIS returns, tax submissions, and HMRC compliance so nothing slips through the cracks. 💷 Are you currently registered under CIS, or are you unsure whether it applies to your work? Drop a comment below and we'll point you in the right direction.

https://www.infinityaccountancy.co.uk

23/07/2026

Your First Employee Will Cost More Than Their Salary 💰

Taking on your first member of staff is a big milestone, but the salary figure you agree on is just the starting point. For the 2026/27 tax year, UK business owners need to budget for Employer's National Insurance Contributions (currently 15% on earnings above the secondary threshold), workplace pension auto-enrolment contributions (minimum 3% employer contribution), plus the administrative cost of running a compliant payroll every single month. Miss any of these and you're looking at penalties from HMRC.

Beyond the recurring costs, there are one-off setup considerations too, including registering as an employer with HMRC before your new starter's first payday, issuing a written contract, and ensuring your payroll software is RTI (Real Time Information) compliant. Getting the setup right from day one protects your business and keeps your employee relationship on solid ground. Are you currently across all the employer obligations for 2026/27, or is this an area you're still getting your head around? If you're preparing to take that first hire step, what's the part of employer admin that feels most daunting?

At Infinity Accountancy, we handle payroll and auto-enrolment compliance for business owners across the UK, so you can focus on growing your team rather than wrestling with HMRC procedures. Get in touch for a free, no-obligation quote. 📋

https://www.infinityaccountancy.co.uk

17/07/2026

Accruals & Prepayments: Are Your Accounts Telling the Full Story?

If your books only record money when it lands in your account, your financial reports could be giving you a seriously misleading picture of how your business is actually performing. In 2026/27, accurate financial reporting matters more than ever, and accruals and prepayments are two of the most overlooked pieces of that puzzle. An accrual records income or an expense in the period it's earned or incurred, even if the cash hasn't moved yet. A prepayment does the opposite, spreading a cost you've already paid across the correct accounting periods. Without both, your profit figures can swing wildly from one month to the next.

So why does this matter for your business? Because lenders, HMRC, and even your own decision-making all rely on reports that reflect reality, not just your bank balance. Getting this wrong can mean overpaying tax, underreporting profits, or simply not knowing where your business truly stands. At Infinity Accountancy, our team covers bookkeeping clients right across the UK, making sure every figure sits in the right period and your accounts hold up to scrutiny. Are you confident your current bookkeeping is handling accruals and prepayments correctly? Drop a comment below or get in touch for a free, no-obligation chat. 📊

https://www.infinityaccountancy.co.uk

15/07/2026

Employee Expenses & Reimbursements: Are You Handling Them Correctly?

Getting employee expenses wrong can cost your business more than you'd think. With the 2026/27 tax year well underway, UK employers need to be confident that expense reimbursements are processed correctly, reported accurately to HMRC, and handled in a way that keeps both payroll and tax compliance on track. 💼

There are a few key areas where businesses commonly slip up. Reimbursing expenses through payroll without the correct PAYE treatment can trigger unexpected tax liabilities. Failing to distinguish between taxable and non-taxable benefits (such as travel vs. entertainment costs) is another common pitfall. And if you're not using a proper expenses policy backed by accurate records, HMRC audits become far more stressful than they need to be. Are you confident your current process covers all of these? Do you know which employee reimbursements in your business are actually reportable on a P11D?

Infinity Accountancy supports businesses right across the UK with fully managed payroll services, ensuring your team gets paid on time and your obligations to HMRC are met without the headache. With over 40 years of collective experience and an ICB Practice Licence, we handle the complexity so you can focus on running your business. 📋

https://www.infinityaccountancy.co.uk

13/07/2026

Confirmation Statement vs Annual Accounts: Do You Know the Difference?

Many UK company directors confuse these two filings, and missing either one can land you in trouble with Companies House. They're not the same thing, and in the 2026/27 tax year, staying on top of both is non-negotiable.

Your confirmation statement (formerly the annual return) simply confirms that the information Companies House holds about your company is accurate. Think registered address, directors, shareholders, and share capital. It's a snapshot of your company's structure, not its finances. Your annual accounts, on the other hand, report your actual financial performance, including profit, loss, and your balance sheet. Two completely separate obligations, two separate deadlines. Are you confident you know when yours are due? And if you're not sure who's responsible for keeping track of them, is that something you've actually got covered?

At Infinity Accountancy, we work with business owners across the UK to handle exactly this kind of compliance, so nothing slips through the cracks. With over 40 years of collective experience and ICB accreditation, we keep your filings accurate and on time.

https://www.infinityaccountancy.co.uk

09/07/2026

Are You Running Payroll? Here's What HMRC Expects 📋

Missing an RTI submission can trigger penalties from HMRC before you even realise there's a problem. Real Time Information reporting means every time you pay an employee in the 2026/27 tax year, that data must reach HMRC on or before payday, not after. Get it wrong and you're looking at late filing notices, interest charges, and unnecessary stress pulling you away from running your business.

The key RTI submissions every UK employer must know: the Full Payment Submission (FPS) goes to HMRC each payday with full employee and payment details. The Employer Payment Summary (EPS) is used when no employees are paid in a period, or to recover statutory payments. And if you correct an error after submission, you'll need to know when an Earlier Year Update (EYU) or amended FPS applies. Are you confident your current payroll process covers all three? If any part of that feels uncertain, it's worth a conversation with a professional.

At Infinity Accountancy, our payroll service handles all of this on your behalf across the UK, keeping you fully compliant with HMRC procedures and auto-enrolment obligations throughout 2026/27. What's the biggest payroll challenge your business faces right now? Let us know in the comments.

https://www.infinityaccountancy.co.uk

Infinity Accountancy

06/08/2026

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