Banner

Business start-ups

The tax system for the self employed

If you start working for yourself, you must register with HMRC within the first 3 full months of self employment in order to avoid a penalty for failure notification.

Read more »

The tax system for the self-employed

If you start working for yourself, you must register with HMRC.

Read more »

Employed or self employed?

The question as to whether someone is employed or self employed is not as straightforward as it might at first appear. Many people assume they are free to choose, but HMRC emphasise that this is not the case.

Read more »

Business deductions

In order to attract a deduction in computing the profits of a trade or business, any expenses must be incurred wholly and exclusively for the purpose of the trade.

Read more »

The construction industry

There are special tax rules affecting the construction industry, which are designed to ensure that tax is paid by workers in the sector whether they are employed or self employed.

Read more »

Claiming expenses

The rules which determine what expenses can be deducted from profit for tax purposes are essentially the same whether you operate as a limited company, sole trader or partnership.

Read more »

Choosing your accounting date

You are free to select your choice of accounting date. Under the current year basis, the taxable profit for a particular tax year is determined by the accounts that end in that year.

Read more »

Buying a business

Buying an established business that someone else wishes to sell provides a path that many follow to fulfil their desire to enter into business or expand existing operations.

Read more »

Claiming expenses

The rules that determine what expenses can be deducted from profit for tax purposes are essentially the same whether you operate as a limited company, sole trader or partnership.

Read more »

The national minimum wage and the national living wage

An employer must pay their workers a minimum amount per hour as defined by law. This is referred to as the national minimum wage or the national living wage.

Read more »
Syndicate content