Switching from a sole trader to a limited company in the UK is a big step—and a smart one for many growing businesses. With the right approach, it can lead to major tax savings, better protection, and a more professional business structure. But what are the exact steps? What does HMRC need from you in […]
Sole Trader to Ltd Company in UK: HMRC Rules, Tax Savings & Legal Steps in 2025 Read More »
As a sole trader in the UK, managing your finances is critical to running a successful business. One way to ensure you’re not paying more tax than necessary is by understanding allowable business expenses for sole traders. These are costs you can deduct from your taxable profit, ultimately reducing your tax liability. Below, we’ll break
Allowable Expenses for Sole Traders Read More »
Starting January 2025, HMRC will impose a £100 fine on UK households that fail to meet the Self Assessment Tax Return deadline. With just over a month left to file, it’s crucial for taxpayers to act quickly to avoid penalties. If you’re one of the millions who need to file, it’s important to stay on
HMRC to Fine UK Households £100 for Missing Self-Assessment Tax Return Deadline Read More »
The holiday season is upon us! As we prepare for Christmas 2024 and the excitement of New Year 2025, there’s no better time to get your Self Assessment wrapped up in time for Christmas. Completing your Self-Assessment Tax Return (SATR) early not only saves you stress later but ensures you can enjoy the holidays without
The 2024-2025 UK budget has been released, and while it doesn’t bring sweeping changes, some important adjustments could affect both individuals and businesses. These changes, especially around thresholds, capital gains, and stamp duty, may have implications for your finances and tax planning. Let’s break down what you need to know in simple terms so you
UK Budget 2024 -2025: Key Tax Changes Impacting You and Your Finances Read More »
The Spring Budget, delivered by Chancellor Jeremy Hunt on March 6, 2024, outlined the government’s plans for tax reform and public spending. This explainer focuses on two key changes relevant to employers and employees: National Insurance contributions (NICs) and the High Income Child Benefit Charge. Lower National Insurance Contributions (NICs) The government announced a reduction
Spring Budget 2024: Key Changes for Employers and Employees (UK) Read More »
