Is it accrual world, or is cash king?

If you're a sole trader in the UK, choosing between cash and accrual accounting is an important decision. The accounting method you select impacts how you track your income and expenses, and how you report them to HMRC. But what do these methods actually mean, and which one is best for your business? Let’s break it down.

HMRC is going to tax me on the money I make from selling bits & bobs on Vinted & eBay.

Are they really? The answer for most people is going to be no, they’re not.

Don't leave it till the last minute

The self-assessment tax return (SATR) deadline of January 31st is fast approaching, and while it might be tempting to procrastinate, there are significant advantages to getting your tax affairs in order well before the cutoff date.

Its Christmassssss! Gifting Brilliance: Unwrapping Allowable Business Gifts for £50 or Less

'Tis the season to spread joy, and what better way for self-employed sole traders to do so than with thoughtful, branded gifts that won't break the bank? The good news is that HMRC allows for a bit of festive generosity in the form of allowable business gifts.

Charity donations when you are self employed

As a self-employed sole trader, you understand the importance of making every penny count. What if we told you there's a way to make a positive impact on society while also enjoying significant tax benefits?

Child benefit - do I have to pay any back?

What is the High Income Child benefit tax charge, and does it apply to me?

Child Benefit was previously a universal, non-means tested benefit, meaning that all parents were able to claim it, however in 2013 this changed, and the High-Income Child Benefit Tax charge was introduced, meaning that any individual with an income over £50000 would need to pay back all or part of child benefit received.