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?
Edinburgh
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
What Happens If HMRC Investigates My Business?
Receiving a letter from HMRC telling you your tax affairs are under review is unsettling — but it doesn’t necessarily mean you’ve done anything wrong. HMRC investigates both randomly and … [Read more...] about What Happens If HMRC Investigates My Business?
What Is the Trading Allowance — and Can I Use It?
If you earn a modest amount from self-employment on top of other income — perhaps from a side hustle, casual work, or selling things online — you may be able to take advantage of the trading allowance … [Read more...] about What Is the Trading Allowance — and Can I Use It?
Do I Need a Bookkeeper or Accountant as a Sole Trader?
When you first go self-employed, it’s tempting to handle everything yourself — including your finances. And for a while, that’s often perfectly fine. But as your business grows, or as the complexity … [Read more...] about Do I Need a Bookkeeper or Accountant as a Sole Trader?
How to Budget for Your Tax Bill as a Sole Trader
One of the biggest financial challenges for self-employed people is the tax bill. Unlike employees, sole traders don’t have tax deducted at source — it all comes due in one (or sometimes two) … [Read more...] about How to Budget for Your Tax Bill as a Sole Trader
Working From Home as a Self-Employed Person: What Can You Claim?
Many sole traders and self-employed people work from home, at least some of the time. The good news is that HMRC allows you to claim a portion of your home running costs as a business expense — … [Read more...] about Working From Home as a Self-Employed Person: What Can You Claim?
