S is for Specific
Paula Veysey-Smith • 3 May 2026
Your New Year’s resolutions haven’t failed, they just need a sharper edge. Here's how one simple shift can change everything.
“We make New Year's resolutions — let's call them goals. But they can be a bit vague. The way to make them happen is to actually define them better.”
It's that time of year when those bold January intentions have quietly faded into the background. "Get fit." "Lose weight." "Grow my business." Sound familiar? You're not alone — and more importantly, you haven't failed. Your resolutions just need a better framework.
That's where SMARTER goals come in. Over this series, we'll work through each letter and show you how to transform fuzzy wishes into real, achievable outcomes. We start with the foundation: S for Specific.
Leading by Example
I've booked a triathlon this summer. That's my goal — specific, defined, and it's in the diary. I have a clear event to train for and a set period to get ready. There's no vagueness: I know exactly what I'm doing, and when. That single act of specificity changes everything about how I train, plan, and prioritise. That's the power of S.
Notice the difference between "I want to get fit" and "I'm doing a triathlon in July." The second one tells your brain exactly what to do next. It creates focus, urgency, and a clear finish line to aim for.
The Problem With Vague Goals
Most New Year's resolutions fall into the same traps. They feel motivating in the moment but give you no real direction. Without specificity, your brain doesn't know where to start — so it doesn't.
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Vague: I want to lose weight.
✓Specific: I want to reach
target weight. That's what I'm aiming for — and now I can work out exactly how to get there.
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Vague: I want to grow my business.
✓Specific: I want to engage 10 new clients in the first half of this year. I want to increase my margins by X%.
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Vague: I want to get fit.
✓Specific: I will complete a triathlon this summer. It's booked. It's real. And I'm training for it.
Five Questions to Make Any Goal Specific
A truly specific goal should answer as many of these as possible. If it can't, it needs more work.
- What exactly do I want to achieve? Not "lose weight" — what weight? Not "grow my business" — how many clients, by what percentage?
- Who is involved? Is this just you, or does it include a team, a partner, or a coach?
- Where will this happen? A specific context or location helps anchor the habit.
- When will I do the work — and when is the deadline? A triathlon in summer. Ten new clients in the first half of the year.
- Why does this matter to me? Your reason is the fuel that carries you through the hard days.
Your Turn: Rewrite Your Resolution Right Now
- Write down your original resolution exactly as it was in January.
- Ask yourself: is it specific enough that a stranger could read it and know exactly what you're going to do?
- Run it through the five questions above — What, Who, Where, When, Why.
- Rewrite it as one clear, concrete sentence. Read it back. Does it feel real and actionable? Then you've just made it SMARTER.
The Takeaway
When you're thinking about your goals — whether they're leftover New Year's resolutions or ones you're setting right now — make them specific. A specific goal has a direction. It tells you where you're going and what success actually looks like. Everything else in the SMARTER framework builds on this foundation. Get this right first, and the rest becomes much easier.
Next in the series: We look at M — Measurable. How do you actually know when you've hit your goal? If you can't measure it, you can't manage it.
HMRC’s new system Making Tax Digital for Income Tax Self-Assessment has now arrived! This isn’t just a regulatory update. It’s a shift in how your records are kept, how often you report, and what you will need to do throughout the year. What’s changing for you: Under MTD for Income Tax, if you’re a sole trader or landlord within scope: You’ll need to keep digital records Quarterly updates will need to be digitally submitted to HMRC An End of Period Statement (EOPS) will need to filed A Final Declaration will be needed to finalise your tax position for the year In short: instead of one annual deadline, your tax reporting becomes a year-round process. Why using compliant bookkeeping software is now essential? To meet MTD requirements, HMRC requires fully digital record keeping and submissions . Manual spreadsheets alone are no longer sufficient You’ll need to use MTD-compliant bookkeeping software Sending your accountant paper records or incomplete information will cause delays The upside (it’s not just compliance) While MTD is mandatory, it also brings real benefits: Clear visibility of your tax position throughout the year Better cash flow planning Fewer surprises at year-end What support do you need to navigate this new system? The support of qualified accounting professionals is now more necessary than ever. We don’t expect you to navigate this alone and here’s how MPower Accounting can ensure that you not only comply with, but thrive under, this new reporting requirement. We’ll help you choose and set up the right software We work with trusted platforms such as Xero, QuickBooks, FreeAgent and others. We’ll recommend what fits your business best and get everything set up correctly. We’ll ensure you stay compliant Review your records regularly Submit your quarterly updates accurately and on time Handle all year-end submissions We’ll take the stress off your shoulders With the right system in place: Your records stay up to date automatically We can spot issues early You avoid last-minute pressure and surprises All we’ll need from you to make MTD work smoothly, is access to your chosen bookkeeping software, regular uploaded receipts so we can keep records current and a little of your time when there are questions. The more up-to-date your records are, the more value and proactive advice, we can provide. Your role is simple but important. Letting us take the strain of compliance will save you time and cause significantly less stress, enabling you to focus on what is important, that is running your business successfully. Next steps If you haven’t already: Speak to us about getting set up on MTD-compliant software Let us review your current bookkeeping process Make sure you’re ready for quarterly reporting
When choosing an accountant, it’s natural to be drawn to lower fees. However, if your accountant outsources bookkeeping, especially overseas, it can lead to hidden risks, poorer service and long-term costs for your business. Here’s what you need to consider: Service Quality May Be Lower Higher risk of errors, misclassified transactions, and inaccurate reports Bookkeeping completed less regularly, usually only at key deadlines, eg, VAT quarter No dedicated bookkeeper which can be contacted Less Ongoing Support Little to no ongoing support from UK based accountant Less control and oversight from your accountant Slow response to queries and issues taking longer to resolve Cheap Fees Can Lead to Higher Costs You may pay more later to fix errors or redo work Risk of fines or penalties due to late or incorrect filings Your time being wasted with identifying errors and chasing a response Impact on Your Business Inaccurate financial data makes it harder to make confident decisions Delays can affect cash flow planning and reporting deadlines Frustration and lack of trust in your financial information and accountant What to Look For Instead Accountants who have UK based in house bookkeepers Clear communication and quick response times Consistent, reliable handling of your financial records Continued support and advice through the whole year Key Takeaway The cheapest option isn’t always the best value Investing in quality bookkeeping saves time, reduces risk, and gives you peace of mind The MPower team is proudly based in the UK, with every member carefully selected for their expertise and experience. Our role goes beyond simply completing bookkeeping tasks—we provide valuable insights and practical suggestions based on your financial data. We believe in building strong, partner-like relationships with our clients. That means we’re here for you all year round, whether you have a quick query or need deeper insight from your numbers to support better business decisions. We have welcomed many new clients to our portfolio who, initially enticed by the cheaper rate, have become disillusioned and disappointed with their existing out-sourcing accountants. Understanding that cheap is not the best option, they have thrived with the support and availability our team provide. Choosing the right accountant is about more than price, it’s about ensuring your business has accurate, timely financial information you can depend on and the support of an accountant who is readily available, at any time of the year. This is the service that MPower strives to provide, to any and every client!
As accountants, January is when we see optimism at its highest and inboxes at their fullest. A new year brings fresh energy, new goals, and the promise that this will be the year that your business really moves forward. But as the month moves on and realities hit, the elation and determination to press on with these new goals starts to fade and often die completely. The difference between a resolution that sticks and one that doesn’t is simple: clarity , practicality , and consistency . So instead of vague promises like “earn more” or “work less,” here are some realistic New Year’s resolutions that can genuinely help you build a stronger, more sustainable business. 1. Get Clear on Your Numbers (Not Just Your Turnover) One of the most powerful resolutions you can make is to truly understand your financial position. Turnover alone doesn’t tell the full story. Profit, cash flow, and margins matter far more. Ask yourself: Which services or products are most profitable? Where is cash getting stuck? What costs could be reduced without harming quality? Commit to reviewing your numbers monthly, not just at year-end. Confidence grows when decisions are backed by facts, not guesswork. 2. Improve Cash Flow, Not Just Sales Many businesses fail while still “making money” on paper. Cash flow is the lifeblood of your business. This year, resolve to: Invoice promptly and clearly Review payment terms Chase overdue payments consistently (and professionally) Small changes here can dramatically reduce stress and give you more freedom to plan ahead. 3. Price for Value, Not Fear A common issue I see is business owners under pricing, and resisting rate increases, because they fear losing customers. The result? Long hours, high pressure, and limited reward. A strong New Year resolution is to: Review your pricing Understand your true costs Charge in line with the value you deliver The right clients respect fair pricing. Better pricing attracts better clients. 4. Build Systems That Save Time If everything depends on you or a small team, your business will always feel heavy. Systems create breathing space. Resolve to: Document key processes Automate where possible Use software to reduce manual tasks Time saved can be reinvested in growth, strategy, or simply enjoying life outside the business. 5. Invest in Support (You Don’t Have to Do It Alone) Whether it’s professional advice, bookkeeping support, or mentoring, the most successful business owners know when to ask for help. This year, consider: Delegating tasks that drain your energy Seeking advice before problems escalate Surrounding yourself with people who both support, and challenge, you Support isn’t a cost—it’s an investment. 6. Protect Your Energy and Wellbeing Burnout helps no one. A business that relies on exhaustion is not sustainable. Make a resolution to: Set realistic boundaries Take proper breaks Define what “success” looks like for you, not just your business A healthy business owner makes better decisions and builds stronger businesses. Final Thought New Year’s resolutions don’t need to be dramatic to be effective. Small, intentional changes, applied consistently, create the biggest impact over time. This year, focus less on perfection and more on progress. Build a business that supports your life, not one that consumes it. If you’d like help turning your resolutions into practical actions, contact us NOW —it’s one of the smartest business decisions you can make. At MPOWER we work with business owners to provide clear direction from the numbers and strategies for success. Here’s to a calmer, clearer, and more confident year ahead.
An opportunity to sell some of your land for development can be very tempting but could you land up paying Capital Gains Tax (CGT) on your windfall. This area of tax is quite niche but knowing the rules could shape what decisions you make and it is important that you fully understand the implications. If Principal Private Residence (PPR) Relief can apply then no CGT will be due but the Revenue may well argue that is doesn’t. When does PPR apply? The relevant law is Section 222 of the Taxation of Chargeable Gains Act 1992 (TCGA 1992) . It says you don’t pay CGT on the disposal of a dwelling-house that’s been your main residence and the garden or grounds “up to the permitted area” (normally 0.5 hectares) that’s used for the reasonable enjoyment of the house. That means PPR can apply even if you sell part of your land separately — but only if it was still genuinely part of your residence at the time of disposal. However, the relief has limits: The land sold must have been enjoyed as part of the home, not used for business or rented out separately. The total area (house + garden/grounds) must not exceed 0.5 hectares (about 1.24 acres) unless a larger area is needed for the “reasonable enjoyment” of the home (which HMRC sometimes accepts for rural properties). The land must not have been sold for development before the house sale unless it clearly remains part of the residence at that time. If you sell off a piece to a developer before, or separately from, the sale of your home, HMRC can argue it’s a disposal of land and CGT would apply . HMRC’s makes its stance clear with this statement: “If the owner sells part of the garden or grounds separately from the house, relief will only apply if the land sold formed part of the garden or grounds up to the date of disposal.” How do I show that the grounds were genuinely part of the garden? If the land really is part of your garden, you can improve your position by: Showing continued use — photos, garden maintenance invoices, landscaping, etc. Avoiding any planning applications yourself before sale. Selling without fencing or subdividing it beforehand. Keeping the sale timing close to the eventual house sale (if planned). Documenting that the sale proceeds were for personal reasons , not part of a development scheme. What if planning permission is involved? If you obtain planning permission to sell at a higher value, HMRC is more likely to treat that as a capital gain so CGT will apply. If you’ve already agreed to sell the land to a developer, HMRC’s case is strong — especially if there’s planning permission or preparation for building. If you simply sold a piece of your garden that you’ve been using as part of your home, with no development activity by you , your case is stronger. However, as most developers insist on getting planning permission before the land is bought this can weaken your case. What if I’m not covered by PPR Relief? Then CGT applies on the gain you make from the sale which would be the Sales Proceeds less a portion of the original cost plus allowable expenses. Let’s look at a practical example: You bought your home + 1 acre for £400,000 total. Now you sell ¼ acre for £250,000 to a developer. You’d need to apportion the original purchase price (£100,000) to that land. Gain = £250,000 − £100,000 = £150,000. Then CGT applies at: 18% or 28% (depending on your income tax band), Less your annual CGT allowance (£3,000 for 2025/26). You can also deduct legal fees, surveyor’s fees, etc. In summary: The key factor is what the land was at the time of sale : If the sale is made before development starts, and it is still your private garden at the time of sale, PPR applies. If you had already granted rights, or if it’s no longer used as part of the garden, HMRC could argue it’s no longer part of the residence — but in your case, it’s still part of the garden when sold. Therefore, the gain should be fully exempt under PPR relief. Always seek the advice of a professional if you are considering selling land for development so that you are aware of the risks involved and the amount of CGT that may be due if PPR is not applied. Conducting the sale correctly could be the difference between a hefty tax bill or more of the funds staying in your own bank!
