Why Qualified Accountants Matter More Than Ever Across the UK, small businesses and individuals are being targeted by unregulated tax advisers promising quick refunds or cheap returns. While the offer sounds appealing, many clients are later discovering missing refunds, unexpected HMRC penalties, or even fraud. Recent warnings from the Institute of Chartered Accountants in England …
In business, every set of accounts tells a story.Sometimes it’s one of steady growth and smart planning. Other times, it’s a warning about challenges just around the corner. Recently, a well-known Newcastle city-centre venue, The Earl of Pitt Street, closed its doors after more than ten years of trading. For many locals it was more …
Running a café or restaurant in Newcastle has never been more rewarding — or more challenging.From the Quayside to Jesmond, local venues face tighter margins, higher energy bills, and shifting tax rules. Yet the city’s food scene keeps evolving, full of creativity and ambition. At Friendly Assist Accountancy, we work with independent hospitality owners across …
Read more “The Real Cost of Running a Restaurant in Newcastle — and How to Stay Ahead”
Common Tax Mistakes and Forensic Accounting Implications for Sole Traders If you are a sole trader, researcher, founder, or entrepreneur managing your own tax returns and bookkeeping, you may be at risk of accidental errors and potential fraud. HMRC compliance checks often uncover misreported income, missing receipts, and mixed-use expenses. This situation highlights the value …
Filing your Self-Assessment tax return on time is crucial to avoid escalating penalties and interest charges. At Friendly Assist Accountancy, we understand the complexities of the UK tax system and are here to help you navigate it effectively. Key Deadlines Note: If you register for Self-Assessment after 5 October 2025, your filing deadline will be …
Read more “Avoiding HMRC Self-Assessment Penalties: What You Need to Know”
If you’ve recently moved to the UK — or are planning to — it’s essential to understand how your income, savings, and investments will now be taxed. From April 2025, the UK government abolished the long-standing non-domiciled (non-dom) tax regime and replaced it with a residence-based tax system. These reforms mean that most UK residents …
Read more “How to unlock and achieve tax savings for EU citizens in the UK”
If you live in the UK and have savings, property, or investments abroad, the way your foreign income and gains are taxed has changed dramatically this year. From 6 April 2025, the government’s long-awaited reforms to the non-domiciled (non-dom) tax regime officially came into force — and they’re already having a major impact. At Friendly …
Read more “Non-Dom Tax Rules Have Changed: What Overseas Income Holders in the UK Need to Know Now”
The UK’s financial and tax landscape is evolving rapidly. Whether you are a business owner, freelancer, investor, or landlord, the way you report income, manage accounts, and interact with HMRC is undergoing significant changes. From artificial intelligence in bookkeeping to new tax rules targeting cryptocurrency, side hustles, and property ownership, the period after May 2025 …
Read more “The UK Finance Rules Are Changing Again – How to Protect Your Money”
The UK side hustle economy is booming – with 1 in 4 Brits now earning extra income through TikTok, Etsy, Vinted, freelancing, or delivery apps (ONS, 2025). But as this trend grows, HMRC is watching more closely than ever. The good news? With the right knowledge (and support), staying compliant and avoiding penalties is simple. Do You Need to …
Read more “Side Hustles & Tax: What You Need to Know Before HMRC Comes Knocking”
Running a business isn’t always smooth sailing. Even the most successful companies hit bumps in the road — especially when it comes to cash flow. If you’ve ever worried about making payroll, struggled with slow-paying customers, or felt overwhelmed by rising costs, you’re not alone. In fact, over 80% of small and medium-sized businesses (SMEs) …
Read more “How to Boost Cash flow and Overcome Financial Challenges”