by admin | Apr 4, 2025 | Government Budgets, Tax Compliance
Making Tax Digital (MTD) is a Government initiative to digitise the tax system and to make reporting easier and more efficient. It requires business owners to keep digital records and submit returns to HMRC using software. For now, MTD for income tax will only apply...
by admin | Mar 14, 2025 | Government Budgets, Hints & Tips, Tax Compliance
The Government announced in the UK Budget that the tax treatment of so-called “double-cab” pickups will be changing from April. Previously, these vehicles were treated as vans for tax purposes, meaning that there were generally greater tax reliefs available on them....
by admin | Jan 5, 2024 | Government Budgets, Tax Compliance
What is the “side-hustle tax” and do I need to be worried about it? From 1 January 2024, online marketplace sites like eBay, Uber, Vinted, Airbnb and others are required to report their sellers’ sales details to HMRC. HMRC has always been able to request this data,...
by admin | Jul 10, 2023 | Hints & Tips, Tax Compliance
Financial statements and accounts can be confusing, and it’s easy to focus on profit above everything else. It’s important to consider what your financial statements are telling you, as these can prove valuable insights into running your business, and can help you to...
by admin | Jun 20, 2023 | Hints & Tips, Tax Compliance
National Insurance pays for certain state benefits and the State Pension. Almost everyone pays National Insurance on their earnings, but self-employed individuals need to make contributions too. What is National Insurance? National Insurance Contributions (NICs) are...
by admin | Jun 7, 2023 | Hints & Tips, Tax Compliance
When it comes to submitting your tax return, it sometimes seems easier to put it off until the last minute, but it pays to submit your self-assessment tax return as early as you can. Read on to find out why. As someone who is self-employed, a sole trader or a...
