In a bid to reduce public spending by £1.5 billion, HMRC introduced the High Income Child Benefit Charge (HICBC), which took effect from 7th January […]
Selling Online for Profit? Here’s When and How to Pay Income Tax
Over the past decade, selling online has become a part of everyday life. Whether through eBay, Depop, Etsy, Facebook Marketplace, or even niche reselling platforms, […]
Self-Employed Hairdresser Tax Guide: Maximise Income and Minimise HMRC Stress
Choosing to work independently as a hairdresser or barber offers the flexibility to build your own client base, set your own hours, and decide how […]
Essential Tax Return Tips Every Sole Trader Should Know
If you operate as a sole trader and your earnings exceed £1,000 in a tax year, registering with HMRC as self-employed is a legal obligation. […]
MTD for ITSA Overview: Digital Record‑Keeping and HMRC Submissions
The UK tax system is undergoing a significant transformation through a government initiative known as Making Tax Digital. This programme is designed to modernise how […]
How Personal Trainers Can Boost Income and Achieve Financial Success
The fitness industry continues to grow at a rapid pace, with more individuals turning to personal trainers for support in achieving their health and wellness […]
How to Handle Sole Trader Tax if You Run a Seasonal Business
Seasonal businesses are an appealing choice for many aspiring entrepreneurs in the UK. Whether you operate a beachside kiosk during summer, sell festive decorations in […]
The Best and Worst HMRC Excuses for Missing the Self Assessment Deadline
For many self-employed individuals, the Self Assessment deadline of 31 January is as familiar as their own birthday. Yet, every year, a significant number of […]
Avoid These Common Self Assessment Pitfalls When Filing Your Tax Return
Self Assessment tax returns can be challenging, especially if you’re new to the process. Whether you’re a sole trader, a partner in a business, or […]
Bookkeeping for Beginners: How to Manage Finances When You’re Self-Employed
Embarking on the path of self-employment is an exciting and liberating experience. However, as with any significant life change, it comes with a steep learning […]
Understanding MTD Bridging Software: How It Works and Why Your Business Needs It
Making Tax Digital for VAT marks a key step in the UK government’s broader digitalisation agenda. Initially rolled out on 1 April 2019, this regulation […]
The Ultimate Guide to Becoming Self-Employed: What You Must Know Before You Start
At the start of a new year, many people consider a significant career change. The desire to escape the rigid structure of traditional employment and […]
SA104 Partnership Schedule: Maximise Accuracy in Your Self Assessment Return
Filing a Self Assessment tax return as a partner in a business can be complex and time-consuming. The responsibilities involved in reporting partnership income often […]
New UK Tax Rules for Non-Domiciled Residents Starting April 2025
The United Kingdom has historically attracted international residents with its non-domicile tax status. This system has allowed individuals whose permanent home is outside the UK […]
How to Reduce Your Tax Bill as an Airbnb Host with Allowable Expenses
Airbnb has become one of the most popular platforms for short-term rentals, allowing property owners and tenants to earn extra income by letting out a […]