Accounting Blog

Sole traders are not usually legally required to open a separate business bank account, but using one can simplify tax records, improve cash flow visibility, and enhance professionalism. This guide explains the legal position, bank rules, and practical pros and cons to help you decide what suits your business best.

Choosing the right bookkeeping software helps small businesses save time, improve accuracy, manage cash flow, and stay tax compliant. This guide explains essential features, cloud versus desktop options, costs, security considerations, and how to select scalable bookkeeping tools that fit freelancers, startups, and growing small businesses across different industries today.

If you’re a UK sole trader, VAT rules can apply sooner than expected. This guide explains when VAT registration is mandatory, how the threshold works, voluntary registration pros and cons, and how VAT affects pricing, cashflow, admin, and growth decisions for self-employed businesses across different industries and trading models in.

Learn how sole traders can claim working from home expenses, including utilities, internet, rent, and equipment. This guide explains simplified versus actual cost methods, apportionment by space and time, common mistakes to avoid, record keeping requirements, and practical examples to help you make accurate, defensible tax claims with confidence today.

Learn what mileage rates sole traders can claim, how HMRC simplified expenses work, and which journeys qualify as business travel. This guide explains car, van, motorcycle, and bicycle rates, record-keeping requirements, common mistakes, and how choosing mileage versus actual costs affects your tax bill for self-employed professionals in the UK.

A clear, practical guide to National Insurance for sole traders in the UK. Learn how Class 2 and Class 4 contributions work, how they are calculated and paid through Self Assessment, and why National Insurance matters for your tax bill, cash flow, and future State Pension entitlement.

UK sole traders often overpay for accounting software packed with unnecessary features. The key is simplicity: invoicing, expense tracking, tax compliance, and clear reporting. Platforms like Invoice24 deliver all essentials, support Making Tax Digital, and remain affordable, helping sole traders save time, reduce costs, and manage finances confidently.

UK freelancers are moving beyond Xero in 2026, seeking accounting software that’s simpler, affordable, and fully compliant. Invoice24 offers a freelancer-first alternative with fast invoicing, UK tax readiness, MTD support, and seamless migration. Streamline bookkeeping, manage VAT and Corporation Tax, and stay organised without unnecessary complexity.

UK businesses are switching from QuickBooks due to rising costs and unnecessary subscription complexity. invoice24 offers a free, invoice-first solution tailored for UK compliance, VAT, MTD, and year-end accounting. Streamline invoicing, track expenses, and stay compliant while reducing admin and controlling software spend effectively.