Every article, newest first: plain-English guides to tax, admin and money for the UK’s self-employed. Filter by topic.
Flat rate, cash accounting and annual accounting are three HMRC schemes that make VAT simpler for small businesses. Each solves a different problem.
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VAT registration depends on turnover, not profit. Watch a rolling 12-month total, and know that you can register voluntarily if it helps.
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Your job's payroll handles tax on your salary, but not on your side income. Here's how the two fit together on one tax return.
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Laptops, tools and machinery can reduce your tax. Depending on your accounting method, you either deduct them as expenses or claim capital allowances.
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For your car, your home office and living at your premises, HMRC offers flat rates. They're easier to work out, but not always worth more.
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Once your tax bill is big enough, HMRC asks you to pay next year's tax in two advance instalments. Here's why the second January can feel so expensive.
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National Insurance is paid on profits above a threshold, and it builds your State Pension record. Low earners may want to pay voluntarily.
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Moving into a higher band doesn't make all your income taxed more. Only the slice above the line is.
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One rule decides most expenses: was it wholly and exclusively for the business? If it was partly personal, claim only the business part.
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Money in minus allowable costs equals profit. Profit is the number your tax is worked out from.
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Five dates run the self-employed year. Learn them once and you'll never be surprised by a penalty.
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The UK's tax year runs from 6 April to 5 April. Knowing which year your income falls in makes every deadline make sense.
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