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Basis period reform ended the 'current year basis' for sole traders from 2024/25. How the new tax year basis works and what transition year implications remain.
Understanding exactly what counts as a deductible business expense in the UK — and what HMRC will not allow — is key to accurate tax returns.
The Construction Industry Scheme requires contractors to deduct tax from subcontractors' payments. How CIS works, registration, and avoiding penalties.
The cash basis is a simplified accounting method for UK small businesses — you record income and expenses when money changes hands, not when invoiced.
How to claim vehicle mileage as a self-employed person in the UK — the approved mileage rates, what counts as a business journey, and how to keep a mileage log.
A step-by-step guide to setting up as a sole trader in the UK — from notifying HMRC to keeping records and paying tax.
How National Insurance works for self-employed people in the UK — Class 2 abolition, Class 4 rates, and what it means for your State Pension.
Understand which business expenses are allowable for self-employed people in the UK, how to claim them, and what HMRC will not accept.