July and August often bring a natural lull in activity for many B2B businesses, as clients and key decision-makers head off on their well-earned holidays. But a quieter period doesn’t have to result in financial stress.
With a little forward planning, the summer slowdown can be an opportunity to regroup, refocus, and strengthen your position for the months ahead. Here are a few key areas to consider:
- Manage Cash Flow While Clients Are Away
Review your income and expenditure forecast for July and August. Factor in the possibility of delayed payments or paused projects, and consider putting in place a short-term cash buffer if needed.
- Plan Payroll and Supplier Payments Early
Schedule payroll and essential supplier payments in advance. This reduces the risk of delays caused by staff holidays or unavailable signatories and helps maintain good working relationships.
- Use Downtime Productively
If things are quieter operationally, it’s a great chance to catch up on jobs that usually fall by the wayside:
- Review your pricing strategy
- Refresh your working budget
- Follow up on overdue invoices
- Start preparing your Q3 plans
- Embrace Automation
Accounting tools like Xero or QuickBooks can streamline invoicing, reminders, and reporting. Automating your processes allows you to stay on top of your finances — even if you or your accountant are away.
If you’d like help reviewing your cash flow or putting better systems in place, don’t hesitate to get in touch. I’m here to help your business stay financially fit — all year round.
Understanding Rental Income and Tax Obligations
Whether you’re letting out a single property or managing a growing portfolio, it’s important to understand how rental income is taxed — and how to stay compliant with HMRC.
What Is Rental Income?
Rental income includes not only rent from tenants, but also:
- Utility bills if included in the rent
- Non-refundable deposits
- Service charges (e.g. cleaning or maintenance of communal areas)
All rental income must be reported through your Self Assessment tax return.
What Expenses Can You Claim?
Allowable expenses can reduce your taxable income. These may include:
- Letting agent fees
- Repairs and maintenance
- Buildings insurance
- Council tax (if paid by the landlord)
- Mortgage interest (relief now limited to a basic rate credit)
Planning Ahead
With tax rules tightening in recent years, forward planning is more important than ever. You may wish to consider:
- Whether owning property personally or through a limited company is more tax-efficient
- How Making Tax Digital (applying to landlords with income over £50,000 from April 2026) will affect you
If you’re unsure how the changes affect you — or your clients — tailored advice can make a real difference.
Self Assessment Reminder: 31st July 2025
A quick reminder that the next Self Assessment payment deadline is 31st July 2025. If you make payments on account, this will be your second instalment for the 2024/25 tax year.
Late payments can attract interest and penalties, so we strongly recommend checking your HMRC online account or speaking with us in advance to ensure everything is in order.
Wishing you a successful and stress-free summer period.
As always, if you have any questions or need support — whether with business finances or personal tax — we’re here to help.