Accounting Blog

Can a sole trader pay family members through the business? This guide explains when paying spouses, children, or relatives is allowed, how to structure wages or fees, what counts as a genuine business expense, and how to stay compliant with tax, payroll, and record-keeping rules.

Taking a break from trading doesn’t mean taxes stop. Even without placing trades, dividends, interest, crypto rewards, corporate actions, and prior sales can still trigger reporting and filing obligations. This guide explains how pauses affect realized gains, deductions, trader status, records, and what to plan before restarting.

Working from multiple locations raises practical questions about what expenses you can legitimately claim. This guide explains how travel, home office costs, coworking fees, equipment, and shared-use expenses are treated, with clear principles for apportionment, documentation, and avoiding common red flags when claiming work-related costs.

Working from multiple locations raises complex expense questions. This guide explains what you can legitimately claim when splitting time between home, offices, client sites, coworking spaces, and travel. Learn how employment status, business purpose, apportionment, and good records determine which costs are defensible and stress-free for modern flexible work patterns.

Learn the difference between allowable and disallowable business expenses and why it matters for tax. This guide explains how tax rules treat costs, how mixed-use and personal expenses are handled, and how proper documentation and classification can reduce risk while avoiding unnecessary tax.

Learn how side income works when you’re self-employed, how to categorize different income streams, track gross income and expenses, avoid double counting, and report everything accurately. This practical guide explains when to combine activities, when to separate them, and how to keep clean records that stand up at tax time.

Can you amend a tax return after the deadline? In most cases, yes. This guide explains filing deadlines versus amendment windows, refund time limits, penalties, and common reasons to amend late. Learn when amendments are allowed, how timing affects refunds or interest, and practical steps to correct mistakes confidently today.

Stopping trading mid tax year doesn’t pause your tax obligations. You may still need to file returns, report post-cessation income, claim wind-down expenses, deal with assets, VAT, and payroll, and understand how losses, payments on account, and deadlines affect your final tax position when closing a business or changing structure.

Learn capital allowances in plain English with this practical guide for small businesses. Understand what qualifies as capital spending, how pools and rates work, when 100% relief applies, and how to avoid common mistakes so you claim the right tax relief with confidence each year and plan future investment decisions.