Accounting Blog

Wondering if you must tell HMRC when you earn under £1,000 as a sole trader? This clear guide explains the UK trading allowance, gross income versus profit, when Self Assessment is required, and situations where reporting still makes sense, helping freelancers and side hustlers stay compliant without unnecessary paperwork stress.

Forgot to register as self-employed in the UK? This guide explains what registration really means, why deadlines exist, what happens if you’re late, and how to fix it. Learn about penalties, small earnings, multiple years, HMRC expectations, and practical steps to get compliant calmly without unnecessary stress or confusion today.

Can you claim business software and cloud tools as expenses? This guide explains when subscriptions, SaaS, and usage-based services are deductible, how to handle mixed personal use, expense versus capital treatment, and record-keeping essentials. Learn practical, tax-smart ways to claim software costs confidently and avoid common mistakes for modern businesses.

Accurate mileage tracking is essential for maximizing tax deductions and surviving audits. This guide explains what counts as business mileage, how to track trips properly, choose deduction methods, avoid common mistakes, and create audit-ready records so self-employed professionals, contractors, and small business owners can claim vehicle deductions with confidence easily.

Stopping trading doesn’t always stop income. This guide explains why payments can arrive after you cease business activity, how to tell if you’re still trading, and what later income means for tax, records, and obligations—helping sole traders, freelancers, and companies wind down cleanly without surprises.

Learn how to record barter and non-cash payments for tax and bookkeeping purposes. This guide explains fair market value, documentation, common barter scenarios, crypto and gift cards, VAT considerations, and practical steps to avoid reporting mistakes while keeping clean, compliant financial records.

Learn how barter and non-cash payments are treated for tax and bookkeeping purposes. This guide explains fair market value, common barter scenarios, documentation to keep, and how to record non-cash income correctly, helping businesses stay compliant while avoiding costly tax and reporting mistakes.

Learn how barter and non-cash payments are taxed and recorded. This guide explains fair market value, bookkeeping entries, documentation, VAT and crypto issues, and common mistakes. Perfect for freelancers and businesses who swap services or receive goods instead of cash. Includes practical examples and step-by-step workflows for tax compliance clarity.

Accidentally overclaiming expenses can trigger tax corrections, interest, and penalties, even without bad intent. This guide explains what overclaiming means, common mistakes, audit risk, and how to fix errors safely. Learn when penalties apply, how to amend returns, and practical steps to prevent future problems for small businesses and freelancers.