Accounting Blog

What happens when your turnover suddenly exceeds the VAT threshold? This guide explains taxable turnover, the rolling 12-month and 30-day tests, registration deadlines, effective dates, pricing impacts, cash-flow challenges, and practical steps to manage VAT smoothly when growth or one-off spikes push you over the limit.

Can a sole trader use a personal bank account for business? This guide explains what’s legally allowed, how bank terms can differ, and why separating finances often saves time, reduces tax stress, and improves cashflow clarity. Learn when a personal account is fine and when a dedicated account makes sense.

Learn what claimable expenses mean for new businesses, from pre-trading startup costs to everyday operating spend. Understand the crucial split between revenue and capital items, how to apportion mixed-use costs, and what records to keep. Avoid common first-year mistakes and protect cash flow with legitimate tax deductions all year round.

Budgeting for your first sole trader tax bill doesn’t need to be stressful. Learn how to separate business and personal money, estimate tax realistically, set aside income consistently, manage cashflow, and avoid common first-year mistakes, so your tax bill feels planned, affordable, and never a surprise for self-employed beginners everywhere.

New sole traders often delay accounting advice, creating costly habits. This guide explains when to speak to an accountant, why early planning beats last-minute fixes, and which triggers matter most. Learn how early setup improves compliance, cash flow, pricing confidence, and long-term profitability from day one for growing small businesses.

If you already pay tax through PAYE, you may still need to register for Self Assessment in certain situations. This guide explains the difference between PAYE and Self Assessment, when employees usually don’t need to file, and the common triggers that mean HMRC expects a tax return.

Confused about the UK VAT threshold? This guide explains what counts towards registration, focusing on taxable turnover rather than profit or cash received. Learn which sales, fees, deposits, exports, and zero-rated supplies are included, which income is excluded, and how to monitor the rolling 12-month test for growing small businesses.

Can sole traders claim rent as a business expense? This practical guide explains when rent is fully deductible, when it must be apportioned, and when it is restricted. Learn how “wholly and exclusively” rules apply to offices, home working, mixed-use properties, coworking spaces, and family arrangements.

Weekly and monthly bookkeeping helps sole traders stay profitable, paid on time, and stress-free. This guide explains which records to keep, what to update weekly, and how monthly reconciliations reveal cashflow, overdue invoices, tax readiness, and true profitability—using simple routines that work with software, spreadsheets, or basic filing systems easily.