From April 2026, the Government’s Making Tax Digital (MTD) initiative will move to target self-employed individuals and landlords. If you earn over £50,000 a year, you must adopt MTD-compliant software to maintain digital records and provide Income Tax updates. This will extend to those earning over £30,000 from April 2027. These requirements pose significant challenges…
With the Self-Assessment deadline passing on 31 January, it’s clear that many sole traders and business owners aren’t using allowable expenses and deductions to their full potential.
When making the decision to become a freelancer, you have two options. You can either set up as a sole trader or start a limited company.
We are now only 100 days away from the Self-Assessment tax deadline on 31 January 2024.
Recent data from HM Revenue and Customs (HMRC) reveals a significant trend – an increasing number of UK taxpayers are filing their Self-Assessment tax returns within the first week of the new tax year.
HM Revenue and Customs (HMRC) has always been at the forefront of embracing technological advancements to make tax-related processes more straightforward for businesses and individuals.