Selling items online through platforms like eBay, Depop, Etsy, or Gumtree has become a popular way for individuals to earn extra income or even establish […]
Furnished Holiday Letting Explained: How to Qualify for Tax Reliefs
If you rent out your holiday home, you will need to complete a Self Assessment tax return, similar to any other type of property letting. […]
Maximise Deductions: Reduce Your Tax Bill If You Work for Yourself
Self-employment offers freedom and control that traditional employment often cannot match, but it also comes with full responsibility for financial management, especially where tax is […]
Understanding the Impact of MTD for ITSA on Freelancers and Landlords
The UK tax system is undergoing a significant digital transformation. One of the most impactful initiatives is Making Tax Digital for Income Tax Self Assessment. […]
Complete Tax Guide for Sole Traders Launching a Business
Starting your journey as a sole trader is both exciting and challenging. You gain the freedom to be your own boss, but with that freedom […]
How Much Should Sole Traders Save Monthly for Taxes? A Practical Guide
For many sole traders, receiving a large unexpected tax bill is one of the most stressful aspects of self-employment. Unlike employees who have tax automatically […]
How to Appeal an HMRC Tax Decision or Penalty: Your Complete Guide
Every year, thousands of UK taxpayers receive notices from HMRC related to tax bills, penalties, or compliance issues. In many cases, these decisions are accurate […]
Can You Write Off Christmas Client Gifts and Staff Parties as a Sole Trader?
As the festive season approaches, many self-employed individuals face the dual pressures of wrapping up business for the year and preparing for Christmas celebrations. It’s […]
Legitimate Business Expenses Explained: What You Can and Can’t Claim
If you’re a sole trader or a landlord, tax payments can often feel like a burden. However, the UK tax system allows you to deduct […]
How Business Partners Must Handle Self Assessment and Tax Returns
Many entrepreneurs choose to start a business with others instead of going it alone. Whether it’s with a friend, a family member, a former colleague, […]
Cryptocurrency and HMRC: A Complete Guide to Self Assessment Reporting
With the growing popularity of cryptocurrency, an increasing number of UK residents have begun investing in digital assets. While this opens new financial opportunities, it […]
What Can Personal Trainers Claim on Tax? Essential Self-Employment Expenses
Personal training has become a popular career choice in the UK. With nearly 14,000 registered personal trainers, the profession continues to expand as more people […]
Registering for Self Assessment: How to Get Your UTR and File Online
Completing a Self Assessment tax return is a legal obligation for individuals who receive income that is not taxed at source. This includes a wide […]
Ultimate Guide to Claiming Business Expenses When Working from Home
For self-employed individuals, working from home offers convenience, flexibility, and cost-saving benefits. Not only does it eliminate the need to rent external office space, but […]
Self-Employed? Here’s How Long You Must Keep Your Financial Records
The trend toward self-employment has been steadily rising in the UK. Back in 1975, only about 8% of the workforce were self-employed individuals, operating either […]