Tax Evasion vs Tax Avoidance: What’s the Difference?
https://youtu.be/9aWgP3rGj3I Tax Evasion vs Tax Avoidance: What’s the Difference? The terms tax evasion and tax avoidance are often used interchangeably. But they are not the same thing. Tax evasion is illegal. Tax avoidance is more complicated because it can range from completely legitimate tax planning to highly artificial arrangements that HMRC may challenge. So where […]
Closing a Limited Company: How to Take Out the Money Tax Efficiently
https://youtu.be/Y1aAZh8R-dQ If you’re closing a limited company and there is money or other assets left in the business, how you take those assets out can make a significant difference to the amount of tax you pay. One particularly important figure is £25,000. Where the conditions are met, distributions of up to £25,000 made before a […]
Do Qualifications Actually Matter? What 30 Years of Screening (and Casualties) Taught Me
When I qualified as a chartered accountant 35 years ago, the system wasn’t designed to be inclusive. It was designed to break people. And it was oddly effective. The Barrier to Entry You couldn’t just decide to become an ACA. You couldn’t wake up one morning, think “I quite fancy being a chartered accountant,” and […]
Sole Trader vs Limited Company (UK 2026/27): Which Is Best for Tax?
Sole Trader vs Limited Company (UK 2026/27) Is a Limited Company Always More Tax Efficient? One of the biggest myths in business is that a limited company always saves tax. It doesn’t. In fact, for many business owners who withdraw all of their profits each year, remaining a sole trader can actually leave them better […]
Inheritance Tax Guide Part 3
Part 3 – Business Relief, Trusts and Other Inheritance Tax Planning Tools By this point, we’ve looked at how gifts can reduce the value of your estate and why simply giving assets away doesn’t always work. However, lifetime gifting isn’t the only way to reduce an Inheritance Tax liability. Depending on your circumstances, there […]
Inheritance Tax Guide Part 2
Part 2 – Lifetime Gifts, the Seven-Year Rule and the Biggest Inheritance Tax Trap One of the most common questions we hear is: “Can I just give my assets to my children and avoid Inheritance Tax?” The answer is: Sometimes. But only if you understand the rules. Unfortunately, this is where many people receive poor […]
Thinking of giving assets to your children to reduce Inheritance Tax?
Inheritance Tax Explained (UK 2026/27) A Plain English Guide to Understanding, Calculating and Legally Reducing Inheritance Tax Most people think Inheritance Tax (IHT) only affects the very wealthy. In reality, rising property prices and increasing investment values mean many ordinary families are now affected. A house worth £900,000 in London, combined with pensions, savings […]
Why Chartered Accountant Credentials Matter | Paul Marks
Why Qualified Accountants Matter (And What “Chartered” Really Means) Here’s a fun fact that might surprise you: anyone can call themselves an accountant in the UK. No qualifications required. No exams. No professional body. No oversight. You could literally decide tomorrow morning that you’re now an accountant, print some business cards, and start offering your […]
Understanding Payments on Account: A Guide for UK Taxpayers
If you’ve recently completed your first Self Assessment tax return and received a bill that seems almost double what you expected, you’re not alone. Many taxpayers are caught off guard by “payments on account” – but once you understand how they work, they make perfect sense. What Are Payments on Account? Payments on account are […]
How Much Should I Pay for an Accountant? UK Pricing Guide 2025
https://youtu.be/Vhey4SDp4Hs What You’re Actually Paying For When You Hire an Accountant (Beyond the Tax Return) Most people think they’re paying an accountant to “do their tax return.” That’s a bit like saying you pay a solicitor to “fill out forms.” If all you’re getting is a completed tax return once a year, you’re missing about […]
