Do you owe tax on your side hustle? How the £1,000 trading allowance works, when small earnings stay tax free, when to report, and why the viral £3,000 claim is wrong.
Do you owe tax on invoices your customers have not paid? How the cash basis works now it is the default for sole traders, what changed in 2024, and when accruals still wins.
How much can you claim per mile, and for working from home? The 2026/27 simplified expenses flat rates for sole traders, worked examples, and the vehicle choice you cannot reverse.
Registered but not selling yet? What "trading" means to HMRC, the three-month rule, dormant company filings, claiming pre-trading expenses, and the checklist to complete before your first sale.
Do you need an accountant, a bookkeeper, or neither? What each costs for UK sole traders and limited companies, and a five-minute framework to decide in your first year.
Do you need to keep every receipt, or are bank statements enough? HMRC record keeping rules for sole traders and companies, retention periods, digital records, and Making Tax Digital.
The Companies House reforms every UK director and accountant must act on now - before the penalties arrive.
When a trade ends, terminal loss relief carries the final year's loss back three years. When it incorporates, s.86 rescues stranded losses against your salary and dividends from the company.
A trading loss in your first four years can be carried back against the income you earned in the three years before you started, refunding tax you have already paid.
Employed or self-employed? Your label does not decide it, the facts do. Understand how HMRC judges status, the NIC and tax differences, and the cost of getting it wrong.