News & Blog

Self-Assessment Tax Return For Carpenter, Heating Engineer, Electrician

Self-Assessment Tax Return For Carpenter, Heating Engineer, Electrician

Self-assessment can be a tricky affair for self-employed individuals if not carried out correctly. This is precisely why we have created this article for carpenters, heating engineers and electricians so that you can file your self-assessment tax return with ease. Register With HMRC The very first step to file your self-assessment tax return, if you […]

Costs You Can Claim Against Your Self-Employed Business

Costs You Can Claim Against Your Self-Employed Business

The most obvious part of completing your tax return after the end of each fiscal year is working out your expenses. This is because some expenses are tax-deductible, and you can subtract them from your turnover in order to get some taxable profit. But, what are these allowable expenses if you are a self-employed individual? […]

Running Your Own Payroll? How to Deal With New Starters?

Running Your Own Payroll? How to Deal With New Starters?

Most business owners hate the entire process of handling payroll as it can be rather complex and complicated. That said, if you have only a few employees working for you, it is better to handle it yourself than to use a third-party to take care of it for you. To help simplify things for you, […]

Difference Between Minimum Wage, National Living Wage & Real Living Wage

Difference Between Minimum Wage, National Living Wage & Real Living Wage

People running a small business or working as employees in a company should know the difference between the Minimum Wage, National Living Wage, and Real Living Wage. Minimum Wage (National Minimum Wage Or NMW) The UK Government is responsible for fixing the National Minimum Wage rates. The National Minimum Wage is fixed after taking into […]

Ultimate Business Tips for the Self-Employed

Ultimate Business Tips for the Self-Employed

Being a self-employed professional can be a great idea in today’s job market, but it’s not as easy as it seems. First of all, when you start your adventure as a self-employed businessperson, you are your boss. You have given up the option of a “safe” payroll at the end of the month because of […]

HMRC’S Strict Action to Bring a New Wave of Change

HMRC’S Strict Action to Bring a New Wave of Change

With the ever-increasing rise number of start-ups and self-employment options, the number of non-tax payers has been on the rising. This issue has led to late payments, zero tax return files, and penalising the defaulters who has further intensified to become a severe and urgent matter of concern. The HMRC penalty law is a big-time […]

As a Self-Employed Contractor why should I care about the Loan Charge?

As a Self-Employed Contractor why should I care about the Loan Charge?

Loan charge is essential legislation in the UK for contractors and employees who were involved in disguised remuneration schemes. Loan charge that came into effect on the 5th April 2019, works in a way that it adds up all the outstanding loans together and taxes them as income for the tax year 2018-19. As a […]

Pros and Cons of a Limited Liability Partnership in the UK

Pros and Cons of a Limited Liability Partnership in the UK

Embarking on a journey of building your own startup can be the most crucial decision you make all year. It is not just a matter of creating a company but also of deciding when you want to run it by yourself or have partners running it with you. A Limited Liability Partnership is a business […]

What is the most Tax Efficient Way to Extract Cash?

What is the most Tax Efficient Way to Extract Cash?

Do you own a small business? Are you struggling with saving taxes and making more money? Small businesses often struggle with navigating their way through the initial parts of a company’s life-cycle. Important aspects need to be kept in mind such as recruiting potential employees in selecting a suitable office space to carry out the […]

How Can First-Time Freelancers Save Taxes?

How Can First-Time Freelancers Save Taxes?

Being a freelancer is like being self-employed. So, people often get confused about saving and paying taxes every financial year. However, as a freelancer, if you are well-versed with the basics of filing your tax returns, you can end up saving a lot of money. The kind of taxes that a freelancer pays can vary […]

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