Edward Harris Chartered Certified Accountants

Edward Harris Chartered Certified Accountants Specialist Accountants in Property, Trades & Construction.

15/06/2026

Just because your construction business is profitable doesn’t mean you’ll have cash in the bank.

One of the biggest mistakes I see contractors make is assuming profit equals cash, It doesn’t.

When a contractor tells me cash is tight, the first thing I check isn’t profit.
I check:
📋 Overdue invoices
📋Whether jobs are being billed on time
📋 What work hasn’t been invoiced yet

I check this because you can have a profitable job on paper…
But if the client hasn’t paid you yet, that profit won’t pay your suppliers, wages, or subcontractors.
This is why so many construction businesses are busy, profitable, and still struggling for cash.

Don’t just track profit.
Track your invoices, monitor what you’re owed, and make sure you’re billing work as soon as possible.

11/06/2026

Thinking of buying a rental property in a LTD company?
Let’s look at how the profit is taxed vs owing a property in your own name.

Own it personally
✅ Rental profits are taxed through your Self Assessment tax return
✅ The tax you pay depends on your total income and tax band Income tax rates can be higher than CT rates.
✅ Rental income is taxed on a cash received basis.
✅ Accounts are prepared to 5 April each year

Own it through a limited company
✅ Rental profits are taxed under Corporation Tax
✅ Profits up to £50,000 are taxed at 19%
✅ Profits above £50,000 are taxed at 25% with marginal relief available up to £250,000.
✅ Accounts must be prepared using the accruals basis
✅ Profits can remain in the company for future investment

P.S if you want an accountant who actually tells you this stuff, comment the word CHAT to apply to become a client.

10/06/2026

🏠 Landlords: Did you know you may be able to claim mileage when visiting your rental properties?

Many landlords assume that travel from their home to a rental property isn’t allowable.
In many cases, that’s not true.

If you’re travelling for your property business, you may be able to claim the cost of:
✅ Visiting a property for inspections
✅ Arranging repairs or maintenance
✅ Travelling between rental properties

For example:
If you drive from home to inspect a rental property, and then travel to another rental property, those journeys may qualify as an allowable expense.

If you’re using your own car, you may be able to claim mileage at HMRC’s approved rates.

The key is that the travel must be for your property business, not for personal reasons.

A lot of landlords overlook travel costs and end up missing out on legitimate tax relief.

If you’re regularly visiting your properties, make sure you’re keeping a record of your mileage and journeys throughout the year.

P.S if you want an accountant who actually tells you this stuff, comment the word CHAT to apply to become a client.

09/06/2026

🏠 Own a rental property with your spouse or partner?

The way rental profits are taxed might not be what you think.

If you’re married or in a civil partnership and the property is owned jointly, HMRC will tax the rental profits 50:50 between you both, regardless of who actually receives the rent.

The exception is if you make a joint property election to ensure that each person is taxed on the income that corresponds to their beneficial interest.

However, if you’re unmarried, the rules are different.

In many cases, rental profits can be taxed based on the share of income each owner actually receives, rather than automatically being split 50:50.

I’ve spoken to many landlords who assume they can choose how rental income is split, only to discover HMRC has different rules depending on their relationship status.

Getting this wrong can lead to unexpected tax bills.

P.S if you want an accountant who actually tells you this stuff, comment the word CHAT to apply to become a client.

05/06/2026

What a lot of business owners don’t realise is that the commercial vehicle they own personally can be transferred to the new company.

Why is this important?
Let’s say you own a recovery truck or tyre van worth £20,000.

Instead of leaving it in your personal name, you may be able to sell it to your limited company at market value.

The company then owns the vehicle and may be able to claim Capital Allowances on the purchase, reducing its taxable profits.

You may also end up with a credit on your Director’s Loan Account, which can be withdrawn from the company tax-free in the future.

P.S if you want an accountant who actually tells you this stuff, comment the word CHAT to apply to become a client.

04/06/2026

Buying equipment for your business? You could be reducing your tax bill at the same time 👀

Many business owners don’t realise that when they buy assets for their business, they may be able to claim Capital Allowances.

Assets can include things like:
✅ Computers and laptops
✅ Vans
✅ Tools and machinery
✅ Office furniture
✅ Equipment used in the business

Instead of getting tax relief through your normal expenses, Capital Allowances allow you to claim tax relief on qualifying business assets.

One of the most valuable reliefs is the Annual Investment Allowance (AIA).

The AIA allows businesses to claim up to £1 million of qualifying asset purchases against their profits in the year they buy them.

For example:
If your company makes a £100,000 profit and purchases a £20,000 van that qualifies for AIA, the company’s taxable profit could reduce to £80,000.

That means less Corporation Tax to pay.

Before buying assets, it’s worth understanding what tax relief may be available.

The asset still needs to make commercial sense for the business, but if you’re planning to buy it anyway, claiming the correct relief can help improve cash flow and reduce your tax bill.

P.S if you want an accountant who actually tells you this stuff, comment the word CHAT to apply to become a client.

03/06/2026

Here are 4 telltale signs that you need an accountant, and the last one is crucial.

1. You are spending too much time on your finances. You didn’t become a business owner to lose yourself in spreadsheets. Accountant can help you to streamline your processes so you have more time to run your business.

2. You don’t know what you can claim for. Claiming every business expense that you are entitled to can drastically reduce your tax bill. An accountant will ensure you claim every allowance business expense so you don’t miss out on tax reliefs.

3. You are unsure if your business structure is right for you. Maybe you are confused on whether operating as a sole trader or limited company is more tax efficient. An accountant can explain the pros and cons of each.

4. You are worried about making mistakes. A lot of things can go wrong and putting off hiring an accountant could cost you, especially if you incur penalties from HMRC.

02/06/2026

Good news for employees who use their own car for work related travel

For the first time in 15 years, the Approved Mileage Allowance Payment (AMAP) rate has increased from 45p per mile to 55p per mile for the first 10,000 miles.

What does this mean?
If you’re an employee using your own vehicle for business journeys, you may be able to receive more tax-free mileage reimbursement from your employer.

It’s important to remember that commuting from home to your normal workplace doesn’t count as business mileage.

Business mileage usually includes trips to:
✅ Clients
✅ Temporary workplaces
✅ Meetings

02/06/2026

Missing this allowance can cost your business £10,500 per tax year.

Many small business owners have never heard of the Employment Allowance.

If you’re eligible, it can reduce your Employer’s National Insurance bill by up to £10,500 per year.

What does that mean?
If you employ staff and pay Employer’s National Insurance, HMRC may allow you to offset up to £10,500 of that cost.

The allowance is usually claimed through your payroll software when submitting your payroll to HMRC.

If you’re a director and the only employee of the company then you can’t claim the employment allowance.

01/06/2026

There’s an upcoming increase in property income tax for individuals.
From April 2027, if you own property personally in England, Wales or northern Ireland, the tax will go up by 2%.

Basic rate will be 22% up from 20%.
Higher rate is 42% up from 40%
Additional rate is 47% up from 45%.

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