Your guide to financial success

Welcome to the RJ Accounting & Bookkeeping Services blog. Here, we break down complex accounting and tax legislation into clear, actionable insights for small businesses and sole traders in Staffordshire. We're committed to keeping you informed about the ever-changing financial landscape, offering guidance that truly makes a difference. Let's navigate the financial world together.

Navigating making tax digital for sole traders

From April 2026, many sole traders and self-employed individuals will need to comply with HMRC's 'Making Tax Digital' legislation. This requires quarterly reporting of income and expenses using compatible software, in addition to your normal annual returns. Non-compliance can lead to significant penalties. Our blog provides essential guidance to ensure a smooth transition and help you avoid unnecessary fines.

Optimising director dividends & corporation tax

Changes to dividend tax rates, increasing to 10.75% for income below £50,270 and 35.75% for higher earners (with a top rate of 39.35%), mean the salary and dividend mix needs careful reconsideration for director-owned small businesses. Furthermore, corporation tax rates start at 19% for profits of £50,000 or less, but increase at a penal 26.5% for the next layer of profit up to £250,000. Understanding your total tax 'leakage' is crucial.

Stay informed with our monthly insights

We believe in keeping our clients and interested parties well-informed with regular, helpful monthly updates. Our blog is dedicated to clarifying constant legislative changes affecting your business, such as the upcoming identification process for all directors which, if not complied with, could lead to businesses being wound up by Companies House. Watch this space for friendly, easy-to-understand articles designed to support your one-to-one relationship with us. If you want to follow up on the blog, please give us a call or drop us a message.