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Tax Talk: Pringles – Potato Crisp or Something Else? The £100 Million Tax Debate!
At first glance, it seems like a simple question: Are Pringles potato crisps? Most people would say yes without hesitation. However, this seemingly straightforward issue led to a major courtroom battle—and a £100 million VAT bill—all due to the complexities of UK tax law. This unusual case provides a valuable reminder of just how nuanced…
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UK Tax Explained: A Comprehensive Guide for Beginners
Taxes—love them or hate them, they’re a crucial part of running a business in the UK. Whether you’re a sole trader, a small business owner, or just starting out, understanding the UK tax system is essential to staying compliant and maximising your profits. At Black & White Accounting, we know tax can be overwhelming, but…
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Tax Talk: Flight School – When Do You Have To Pay VAT?
At Black & White Accounting, we often help clients navigate one of the trickier parts of the UK tax system—VAT classification. And one fascinating example of how these rules can affect businesses (and consumers) is the VAT treatment of helicopter flying lessons. The question is simple: are flying lessons a form of professional training or…
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Goal Setting for Your Business Success
Running a business is a journey—one that requires clear direction, focus, and a plan to measure progress. Without goals, it’s easy to feel like you’re spinning your wheels, unsure of whether you’re actually growing or just staying busy. That’s why setting and reviewing business goals is crucial for long-term success. At Black & White Accounting,…
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A Simple Guide to Capital Gains Tax in the UK
Capital Gains Tax (CGT) is a tax that many people don’t think about—until they’re suddenly facing a large bill! Whether you’re selling a property, shares, or a valuable asset, understanding CGT can help you plan ahead, minimise your liability, and avoid costly mistakes. At Black & White Accounting, we make tax simple. We handle the…
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Tax Talk: eBooks vs Printed Books – A Taxing Difference?
At Black & White Accounting, we understand that not all products are viewed equally by HMRC—especially when it comes to VAT. One striking example is how books were historically taxed in the UK. You might reasonably assume that whether you purchase a book in print or in digital format, the tax treatment should be the…
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Marriage Allowance: How to Lower Your Tax Bill
The UK tax system offers various reliefs and allowances to help individuals keep more of their hard-earned money. One of the most underutilised yet powerful tools for married couples and civil partners is the Marriage Allowance—a simple way to legally reduce your tax bill. At Black & White Accounting, we’re passionate about helping our clients…
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Tax Talk: Arctic Systems – Can You Still Split Dividends With Your Spouse?
Splitting dividends between spouses has long been considered a sensible and effective tax planning strategy for family-run businesses. However, this approach was nearly brought to an end following one of the most significant tax cases in recent UK history: the Arctic Systems case. The Background: A Straightforward Setup—Or So It Seemed Geoff Jones operated a…
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IR35 Rules: How They Affect Contractors and Freelancers in the UK
If you’re a contractor, freelancer, or work through a limited company, then IR35 is a term you need to understand. These rules have had a massive impact on how independent workers are taxed, and getting it wrong can mean hefty fines and unexpected tax bills. At Black & White Accounting, we help contractors and businesses…
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The Small Business Guide to Accounting Success
As a UK accountancy practice, we know that individuals and businesses face unique financial challenges. In today’s fast-paced and competitive environment, it’s crucial to get the fundamentals right, especially when it comes to managing your finances. Whether you’re a freelancer, a startup, or a growing business, understanding accounting is the foundation of your success. Let’s…