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A Guide to Setting Up as a Sole Trader in the UK

Are you considering starting your own business in the UK? One of the simplest and most popular business structures is setting up as a sole trader. In this guide, we’ll walk you through the process of becoming a sole trader in the UK, including registration, tax obligations, and more. Understanding Sole Trader Business Structure: When […]

Understanding the Tax Effect of Side Hustling in the UK

In today’s world, the concept of side hustling has become increasingly prevalent. Whether it’s baking cakes on weekends, providing professional training, driving for rideshare services like Uber, or delivering packages for Amazon, many individuals are turning to side hustles to supplement their income. However, what some may not realize is that the income generated from […]

Another tax bill in July? Payment on account explained.

The HMRC uses the payment on account to receive money from sole traders during the tax year. Payment on account is a system that is used by the revenue to ensure that taxpayers under Self-assessment contribute towards future unearned tax and national insurance even with the assumption they would earn the same amount of income […]

Claiming back VAT paid on goods and services before VAT registration?

VAT registration

Vat registration in the UK is important. Value-Added Tax (VAT) in the UK is a type of tax that is paid by individuals that buy taxable supplies. This means that for every time you pay for a transaction that is a taxable supply, you pay VAT on it. For example, if an individual visits a […]

Self employed and affected by Covid-19,how much grant should I receive?

Self employment income support scheme

Self employed income support scheme was one of the last grants that were announced by the HMRC. The Chancellor confirmed that it was difficult to assess how the number of grants that could be given to self employed individuals in the UK due to the flexibility of their income. Who qualifies for the Self employed […]

3 Types of expenses that can be claimed by business owners !


Expenses are a crucial part of reducing the income tax and national insurance paid in the UK. Every business is different, so the expenditure claimed could be different. There are three rules that could help to ensure that you are claiming the right expenses. Why is claiming the right expenses important? The consequence of not […]


Self-assessment system in Uk

Self-assessment system is used by the HMRC to administer and collect tax from taxpayers in the UK. Most UK taxpayers’ tax is collected at the source, however, some taxpayer under this system have to administer their tax by themselves. If not administered well, they are given penalties and made to pay interest on unpaid tax. […]


Training cost

The training cost is one of the costs that is incurred by business owners. This cost is important as it helps to increase the skills of the employees at the workplace. In this blog, we will like to explain some of the consequences of investing in training costs and how to reduce the tax due […]


Starting a new business,taking on a new challenge!

Starting a new business, taking on a new challenge! As we start the New Year, we might feel that we need to start a new business. As a result, this decision might be you quitting your old job and starting a new business. What to do as you leave the old and start a new […]


Employee or Self Employed

Employment status key test. Who is an Employee? An employee is an individual who works part-time or full-time under a contract of employment, whether oral or written, express or implied, and has recognized rights and duties.Often people mix this up as they are not sure what category they are on. I have been often been […]