Unlocking Tax Clarity: Introducing Taxdash – Your Advanced Income Calculator for Sole traders In today’s complex financial landscape, understanding your tax obligations can feel like navigating a maze blindfolded. Whether you’re a self-employed…
HM Revenue & Customs have recently updated and clarified their guidance on training costs paid by the self-employed. The general rule for whether the cost of a training course can be deducted from your self-employed profits is that it must be incurred wholly and…
Running an interior design business involves more than just creating beautiful spaces. The operational dynamics of the industry can present challenges in maintaining accurate bookkeeping, particularly when the business is VAT registered. While each business is unique,…
When starting a business, there are a lot of big decisions to be made, including whether to go self-employed or set up as a limited company. Every business, irrespective of the size, big or small, must have a legal structure. Here we look at some of the benefits and…
From 6 April 2017 full interest expenses can no longer be deducted from rental income, a Tax Reduction Amount must be calculated instead. The tax liability of a basic-rate taxpayer could remain unchanged, if the new profit calculation does not push the basic-rate…
Are you Self Employed or a Sole Trader? Many people don’t quite understand what it means when you are self employed or sole trader as it is also known. You are classed as self-employed when you are personally responsible for your own tax and National Insurance…