Should I Register for VAT as a Sole Trader?
It is stressful to get along with the tax implications and other business obligations when you are working as a sole trader. Since you do
Accounting, Tax & Business Blogs
Explore expert accounting, tax, bookkeeping, and business advice from across the UK. Get practical tips, financial insights, and the latest updates to help you manage your finances and grow your business.
Paying PAYE by Recurring Direct Debit
Employers must act as a tax collector for HMRC, deducting tax, National Insurance and, if applicable, student loan deductions, from their employees’ pay and pay
What is Automated Credit? All You Need to Know
If you have noticed ‘Automated Credit’ on your UK bank statement, you may wonder what it actually means. In most cases, it simply refers to
Guide to HMRC Subsistence Expenses and Allowances
Subsistence expenses and allowances might seem trivial to be counted as business expenses for the purpose of reclaiming VAT or allowances. However, the HMRC provides
Take Advantage of the Dividend Allowance
Where a business is operated as a family company, it is necessary to extract the profits from the company in order to use them outside
Are You Trading?
It will not always be apparent when a hobby tips over into a trade and the point at which you need to declare your income
Reclaiming VAT on Fuel & Petrol: How It Works
Your business expenses are fully recoverable from HMRC in the form of VAT refunds. However, it is not as simple as it appears to be.
Which State Benefits are Taxable?
Taxable State Benefits become a hassle for those who are getting state benefits like state pension or Jobseeker Allowance (JSA) or other benefits. How can
Top 5 Tax Deductible Travel Expenses for Self Employed in the UK!
If you are residing in the UK and plan to offer your services as a self-employed individual, there are a lot of interesting factors that
Personal Bills Paid For By The Company – What’s The Tax And Nic Position?
HMRC’s basic premise is that where a company pays a personal bill, there will be tax and National Insurance implications unless the expense is work
Tax Code 1257L | How to Check Your Tax Code is Correct?
Seeing codes like 1257L can be confusing. But this little combination of numbers and letters makes a tremendous difference in your take-home pay. Having an
What Does DWP XB Mean and Why has it Come Up on My Bank Statement?
As December approaches every year, many people who receive pension funds or they have claimed pensions for the upcoming December, notice an unusual and unknown
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