Knowledge base
A ROUNDUP OF SEED ACCOUNTING SOLUTIONS' MOST FREQUENTLY ASKED QUESTIONS. These have been collated from client emails and conversations, social media interactions and general queries. If your question isn't answered here, please get in touch via the contact form at the bottom of this page.
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- Xero
How do I use Xero to track my personal ‘Freedom Fund’ goals?
Answer: Most people view Xero as a tool for the taxman, but with a few simple tweaks, it becomes your personal “Freedom Dashboard.” To track your […]
What are the current thresholds for dividend tax this year?
For the 2025/26 tax year, here’s what you need to know: After this, dividends are taxed based on your income tax band: Tax Band Dividend Tax […]
Pension Contributions for Limited Company Directors
What is the most tax-efficient way to pay into a pension as a director? For most limited company directors, it is usually most tax-efficient to process […]
Pension Contributions for Sole Traders
Can I pay into a pension through my business as a sole trader? As a sole trader, you cannot claim pension contributions as a business expense […]
Coconut Categorisation
Choosing which category to use in Coconut can be a bit baffling, so we have listed the categories that are available in Coconut, with some ideas […]
I didn’t receive my dividends as they were reinvested – what do I do?
Many investment portfolios generate dividend income from some of your holdings. These dividends may be paid quarterly, annually, or at irregular intervals. In some cases, rather […]
What is MTD?
MTD stands for Making Tax Digital. This is an overarching term for a programme that is being run by the government to help make the tax […]
Can I claim for training and development expenses in my business?
This can be quite a complex area so we would recommend contacting us, or your existing accountant for full information on your specific circumstances. In summary […]
Why do we ask for pension documents when preparing your self assessment tax return?
At Seed Accounting Solutions, we aim to make sure you’re claiming all the tax relief you’re entitled to. That’s why, if you’ve told us you contribute […]
I’ve registered for VAT. What do I need to do now?
Whether you’ve registered for VAT due to exceeding the threshold (£90,000 since 1st April 2024), or you’ve chosen to register for VAT voluntarily, what you need […]
What do I need for a purchase invoice to be valid for VAT purposes?
If you are VAT-registered, keeping hold of your purchase invoices is a requirement for HMRC purposes. But what is a valid purchase invoice for VAT purposes?
What do I need to include on a valid VAT sales invoice?
You’ve registered for VAT – now you need to know how to send out a valid sales invoice to ensure you are compliant with HMRC’s VAT […]
How to close a Limited Company
Closing a limited company involves several key steps: If you would like help closing a Company down or finding out more about the closure methods, please […]
How does the HMRC agent authorisation process work
We request access to your HMRC account so that we have visibility of your account and also so that we can talk with HMRC on your […]
Do I need an accountant if I use Quickbooks or Xero?
A question that often gets asked is whether an accountant is needed if a business owner uses software such as Xero or Quickbooks. Well, the answer […]
How do I leave my accountant?
Leaving your accountant is not an easy decision to make, but sometimes it’s a very important one! The process of leaving your accountant is actually quite […]
Can I claim flights through my business?
Whether you can claim flights through your business depends on a few things. Firstly – are they wholly and exclusively for business purposes? If so, then […]
What is a P60?
A P60 is a crucial document provided by employers to their employees. If you’re working for an employer on 5 April, they are obliged to provide […]
What can I claim for staff entertainment?
One of our frequently asked questions is around staff entertainment – Christmas parties, drinks in the pub, summer social, meals out. We’re going to cover some […]
How do I record donations to charity in my self assessment tax return?
If you have donated to charity in a tax year, you might be able to claim tax relief through your self assessment tax return. In order […]
I have been asked for a SA302 for my mortgage application – how do I get this?
It is common for mortgage brokers or mortgage providers to ask for a SA302 if you are self employed or have to file a self assessment […]
What tax do I need to pay if I sell a property?
There are many things involved with selling a property, and in this FAQ we have tried to summarise the most common situations. Selling your own home […]
Why are there two Corporation Tax Returns in my first year?
There are two corporation tax returns in your first year because a Corporation Tax accounting period cannot be longer than 12 months. This means you will […]
Can I change my Companies House Authentication Code?
When your company is formed, Companies House will send you a letter with your authentication code shortly after. This will be sent to the Registered Office […]
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