Insights
Plain-English guidance for growing businesses.
Articles on accounts, tax and running an owner-managed business — written to be useful, not to show off jargon.
VAT Registration Threshold: When and How to Register for VAT
By Callum Ollerenshaw, Director, ACCA — Traction Accountancy VAT registration stops being optional the moment your turnover crosses a fixed line, and from…
Read article12 October 2026 · 2 min readUnderstanding Your Profit and Loss Statement
Your profit and loss statement is the most important financial report in your business. Here is how to read it, what the key figures mean, and what you should be monitoring.
Read article12 October 2026 · 2 min readWhat Are Management Accounts and Do You Need Them?
Management accounts give you up-to-date financial information to make better business decisions. Find out what they include, how often you should get them, and whether your business needs them.
Read article6 October 2026 · 2 min readHow to Pay Yourself From a Limited Company
Salary, dividends or both? This guide explains the most tax-efficient way to pay yourself from a limited company, including how pensions and multiple shareholders change the picture.
Read article22 September 2026 · 6 min readCorporation tax savings for growing limited companies
Corporation Tax Savings for Growing Limited Companies: A 2026/27 Guide By Callum Ollerenshaw, Director – Traction Accountancy Ltd Most limited company owne…
Read article21 September 2026 · 4 min readWhy Up to Date Financial Information is So Important for Owner-Managed Businesses
By Callum Ollerenshaw, Director — Traction Accountancy Most business owners I speak to have no real idea how their business is performing right now. For ow…
Read article14 September 2026 · 3 min readTrivial Benefits Explained: Tax-Free Gifts for Employees & Directors
The trivial benefits exemption lets you give staff and directors small tax-free gifts completely free of tax and National Insurance. Here's how the trivial…
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