Accounting Blog

Learn when tools and equipment qualify as allowable expenses and how they reduce taxable profit. This guide explains business purpose, capital vs revenue costs, private use, home working, and record-keeping, helping sole traders, freelancers, contractors, and companies claim correctly while avoiding common tax mistakes.

The UK £1,000 trading allowance lets people earn up to £1,000 from small-scale trading or side hustles with little or no tax admin. This guide explains what counts as trading income, how the allowance works in practice, when you still need to file, and how to choose between the allowance and claiming actual expenses.

Confused by UK National Insurance as a freelancer? This guide explains Class 2 vs Class 4 NI: who pays, how flat-rate and profit-based contributions are calculated, key thresholds, and what each means for state benefit entitlement. Learn how they appear on Self Assessment and plan cash flow confidently today easily.

Thinking of hiring your first employee as a sole trader? This guide explains PAYE, when registration is required, how employee status and earnings thresholds affect payroll, and what HMRC expects. Learn when PAYE is mandatory, when it may not be, and how to stay compliant as your business grows confidently.

When should a sole trader consider incorporating? This guide explains the key signs, benefits, and trade-offs of moving to a limited company, covering risk, tax flexibility, growth, credibility, hiring, investment, and exit planning, so business owners can choose the structure that best supports their next stage with confidence today clearly.

If you’re a sole trader who made a business loss, you may still need to submit a tax return. A loss doesn’t automatically remove filing obligations, and reporting it can be beneficial. This guide explains when you must file, when you might not, and how losses can reduce tax.

Learn how to claim vehicle expenses when your car is used for both business and personal travel. This guide explains apportionment, actual costs versus mileage methods, common claimable expenses, record-keeping tips, and mistakes to avoid, helping you maximise allowable tax relief while staying compliant.

The UK £1,000 trading allowance lets people earn up to £1,000 a year from small or casual trading without paying tax. This guide explains what counts as trading income, when you must report it, how the allowance works, and when claiming actual expenses may be better.

Clear gift and entertainment rules help small businesses build relationships without risking legal, ethical, or tax problems. This practical guide explains definitions, anti-bribery principles, value thresholds, approvals, record-keeping, and common risk scenarios, helping owners stay compliant, protect reputation, and offer hospitality confidently across clients, suppliers, and regulated environments globally today.