Elite Virtual Bookkeeping Ltd

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Elite Virtual Bookkeeping Ltd We handle the numbers so you don’t have to! Focus on your business; we’ll do the math.
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From bookkeeping, annual accounts and corporation tax to payroll and VAT, we keep your finances in check—minus the headaches.

12/10/2026

Not every business expense is tax-deductible! 👀

Client entertainment can still be paid for through your business and recorded in your accounts, but it’s generally not deductible for Corporation Tax or VAT purposes.

Remember, uniforms, protective clothing and qualifying branded workwear can be allowable expenses, even though everyday clothing isn’t.

Make sure you know what you can and can’t claim! 💼

11/10/2026

Life changed? Your tax position might have too. Keep your accountant in the loop!

08/10/2026

Running a Ltd company? Your pension is another area where the right setup can make a difference to you AND your business.

06/10/2026

When did you last actually check your pension? 👀 Small changes now could make a big difference later.

04/10/2026

“I’ll just write it off!” 👀 Believe it or not, this doesn’t mean you’re getting it for free!

An allowable business expense reduces your taxable profit, which can reduce the tax you pay — but you’re still spending the money in the first place. Understanding the difference can help you make smarter decisions when reinvesting in your business 💷

02/10/2026

Should you already be using Making Tax Digital? 👀

HMRC has started automatically signing up some sole traders and landlords who should have joined MTD from April 2026 but haven’t.

Remember – the threshold is based on qualifying gross income BEFORE expenses, not your profit! And with the threshold dropping to £30k from April 2027 and £20k from April 2028, a lot more people are about to be affected.

30/09/2026

Thinking of buying a van through your limited company? 🚐

Vans can be much more tax-efficient than company cars, with potential 100% tax relief on the purchase and favourable Benefit in Kind rules too. Definitely worth knowing the tax rules before you buy!

28/09/2026

Thinking of buying a car through your limited company? 🚗

If the company owns the car, it can pay costs such as insurance, MOT, servicing and repairs.

For company cars, the BIK % is applied to the car’s original list price to calculate the taxable benefit. You then pay Income Tax on that benefit based on your personal tax rate.

Example: £40,000 list price × 34% BIK = £13,600 taxable benefit. A 20% taxpayer would pay £2,720 Income Tax, while the company would also pay 15% Class 1A NI (£2,040).

Fully electric company cars are currently just 4% BIK for 2026/27, making them significantly more tax-efficient in many cases. ⚡

For petrol/diesel, buying personally and claiming business mileage may work out better — currently 55p per mile for the first 10,000 qualifying business miles, then 25p.

Always run the numbers before buying!

26/09/2026

Earning around £100k? Good tax planning can make a big difference 👀

Once your adjusted net income goes over £100,000, your Personal Allowance starts reducing — and by £125,140, it’s completely gone.

If you’re a Ltd company director approaching this level, consider your options BEFORE taking more income. Pension contributions, Gift Aid and planning the amount or timing of dividends could all help.

And remember, it’s your total taxable income that matters — not just your salary.

Plan before you take the money, not after!

24/09/2026

Taking money from your Ltd company and calling it a dividend doesn’t automatically make it one 👀

Dividends can only be paid when the company has enough available profits and they need to be properly declared and recorded, with the correct dividend paperwork.

The date matters too. Simply transferring money from the business bank account doesn’t necessarily determine the dividend date — it needs to be properly declared and made available to the shareholder.

And don’t forget the personal tax! Dividend Tax is paid by you personally, not by your Ltd company. If you already complete a Self Assessment, your dividends need to be included on your tax return.

So if you take a £10,000 dividend, don’t assume the full £10,000 is yours to spend — consider putting some aside personally for the tax bill. How much tax you’ll pay will depend on your total income for the tax year, not just the dividend itself.

Cash in the bank ≠ available profits. Always check before declaring a dividend!

Address

Services Available In:
London
SW62NP

Opening Hours

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

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