Accounting Blog

Growing as a sole trader changes bookkeeping from a chore into a strategic tool. This article explains when and why to upgrade your bookkeeping system, the warning signs you’ve outgrown spreadsheets, and how better structure, automation, and visibility support cash flow, tax confidence, and smarter growth decisions for small businesses.

Wondering if irregular sole trader income is taxable? This guide explains how tax is based on annual profit, not monthly consistency, when registration and reporting still apply, how thresholds and expenses affect liability, and practical ways to budget, save for tax, and manage cash flow with uneven earnings effectively today.

Working on client premises doesn’t block you from claiming business expenses—but it changes how they’re assessed. This guide explains what counts as allowable when working on-site, covering travel, subsistence, accommodation, equipment, and common pitfalls, with practical advice on staying compliant, consistent, and well-documented.

Recordkeeping is essential for Etsy, eBay, and Amazon sellers who want to stay profitable, tax-ready, and protected. Learn which sales, fee, inventory, shipping, and expense records to keep, how to organize them, and why consistent documentation helps you make smarter business decisions and avoid costly surprises.

Learn how to handle tips, gratuities, and small cash payments with confidence. This guide explains what counts as a tip, how to clarify intent, follow workplace rules, accept or refuse politely, track cash properly, and avoid awkward or risky situations across hospitality, freelance, and regulated roles and modern service environments.

Accidentally underreporting income means filing a tax return that omits required income without intent to mislead. This guide explains what underreporting is, how it commonly happens, how tax authorities respond, potential penalties, and the practical steps to correct mistakes, reduce risk, and prevent future errors.

Learn how to record business expenses paid from your personal account without wrecking your books. This guide explains reimbursements, owner and director accounts, VAT handling, double entry logic, and common mistakes, with clear examples for sole traders, freelancers, and limited companies, using software or spreadsheets, step by step workflows included.

UK sole traders juggle multiple tax deadlines, not just one. This guide explains how to build a practical tax calendar covering Self Assessment, payments on account, VAT, and payroll, with buffer reminders for bookkeeping and cash flow so filing, paying, and compliance become predictable rather than stressful for freelancers nationwide.

How much should a sole trader save each month for tax? This guide explains how to calculate a realistic monthly tax set-aside based on profit, not turnover. Learn simple percentage rules, accurate forecasting methods, VAT considerations, and how to avoid common cash-flow shocks like payments on account and penalties later.