Tax year end for sole traders falls on 5 April, and it is a good moment to get your records in order. The UK tax year does not follow the calendar: it runs from 6 April to 5 April. Doing a little … [Read more...] about 6 Simple Tax Year End Checks Every Sole Trader Should Do by 5 April
Scottish Advanced Rate: What the 45% Tax Band Really Costs You
Scotland's income tax system has more bands than the rest of the UK. One of them, the Advanced rate, doesn't exist anywhere else in the UK at all. Maybe your income sits in the £75,000–£125,140 range. … [Read more...] about Scottish Advanced Rate: What the 45% Tax Band Really Costs You
Sole Trader vs Limited Company: When Does Going Limited Actually Pay Off?
Many self-employed people in Scotland ask the same question: at what profit does it make sense to become a limited company? The old rule of thumb was around £30,000 to £40,000. However, since the 2026 … [Read more...] about Sole Trader vs Limited Company: When Does Going Limited Actually Pay Off?
MTD £30,000 Threshold: Are You Ready for April 2027?
Making Tax Digital for Income Tax has already gone live for self-employed people and landlords earning over £50,000. We covered this in our guide to HMRC's automatic MTD sign-up, back in September … [Read more...] about MTD £30,000 Threshold: Are You Ready for April 2027?
Important: How Universal Credit for the Self-Employed Actually Works
If you're a sole trader in East Lothian or Edinburgh and you're claiming, or thinking about claiming, Universal Credit, there's one thing worth knowing early: it doesn't treat self-employed income the … [Read more...] about Important: How Universal Credit for the Self-Employed Actually Works
Important: HMRC Is Now Automatically Signing People Up for MTD for Income Tax
If you're a sole trader or landlord in East Lothian or Edinburgh, HMRC automatic MTD sign-up is now underway. HMRC's approach to Making Tax Digital has changed. It used to say "you should sign up" for … [Read more...] about Important: HMRC Is Now Automatically Signing People Up for MTD for Income Tax
Companies House Accounts Filing Reforms Delayed to April 2028
If you run a limited company and had April 2027 marked down for a shake-up in how you file your annual accounts, you've got more breathing room. The Companies House accounts reforms will now start … [Read more...] about Companies House Accounts Filing Reforms Delayed to April 2028
2027 Property Tax Changes: What Every Landlord Needs to Know
From April 2027, it will be possible to lose money on a rental property in a given year and still receive a tax bill telling you that you made a profit. That’s not a drafting error — it’s … [Read more...] about 2027 Property Tax Changes: What Every Landlord Needs to Know