5 Common Tax Mistakes Small Businesses Make (And How to Avoid Them)

Running a small business is challenging enough — don’t let tax errors make it harder.

At Mehrish & Co, we regularly help business owners correct avoidable mistakes. Here are five of the most common ones:

1. Missing Deadlines – Failing to submit returns on time can lead to penalties.
2. Not Claiming All Allowable Expenses – You might be leaving money on the table.
3. Mixing Personal and Business Finances – Keep separate accounts for clean bookkeeping.
4. Incorrect VAT Reporting – A common and costly mistake.
5. Poor Record Keeping – HMRC expects accurate, well-organized documentation.

👉 Need help? Get in touch with our tax experts for tailored advice.