Like most other sole traders, your life is probably busy and stressful enough without having to worry about something else. However, there’s no avoiding the fast-approaching Self Assessment tax return online filing deadline, which each year is midnight on 31 January. Gulp. Here’s the lowdown
Read more
Having to pay tax on your hard-earned income is certainly one of the less-welcome aspects of being a self-employed sole trader or freelancer. It’s made slightly more palatable by the fact HMRC allows you to claim a wide range of expenses (hence “allowable expenses”), which
Read more
Register as a sole trader v limited company? It’s a key question to answer when you decide to take the plunge and start your own business because your decision can have major implications. And even after making a choice, with your business firmly established, every
Read more
You’re probably reading this because you’ve recently become self-employed or it’s something that you’re considering. Self-employment can provide greater flexibility, more control over your work, a higher income and greater satisfaction. But a key consideration is what business taxes you must pay. In this guide
Read more
Keeping your costs to a minimum is advised when starting a business, because it means you can pay off your start-up costs sooner and then start to make a profit. You also risk losing less money if the business doesn’t get off the ground. Some
Read more
Contractors Ditch the jargon – Self assessment explained! Understanding Self Assessment can be challenging for many contractors and self-employed people. The technical information can be difficult if not impossible to understand, while – let’s face it – it’s hardly the most interesting subject. And the
Read more
Should you register as a sole trader or form a limited company? COVID-19 helped to push UK business start-up figures to new heights in 2020. According to the Centre for Entrepreneurs, annual year-on-year UK business formations in 2020 rocketed by 13% to 772,002. A key
Read more
If you as an expat sole trader want to prepare for the 2021/22 tax year, then look no further than Rishi Sunak’s much-talked-about Budget. In it, the Chancellor promised to do whatever it takes to protect jobs and livelihoods, and outlined how the government intends
Read more