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Introduction If you are a self-employed individual in the United Kingdom operating a business without a company structure, you are considered a sole trader. As a sole trader, you are responsible for paying income tax on your earnings and National Insurance contributions. Understanding the rules and regulations surrounding sole trader tax is crucial to avoid […]

If you’re self-employed or have income that falls outside of traditional employment, then you’re likely required to file a Self Assessment Tax Return in the UK. While the process may seem daunting, understanding the basics of Self Assessment Tax Returns can help you get started with ease. In this blog post, we’ll cover everything you […]

Brief overview of crypto taxes and HMRC Tax Bill Welcome to the world of crypto investing! As exciting and profitable as it can be, it also comes with the responsibility of paying taxes on your gains. HMRC, or Her Majesty’s Revenue and Customs, is the UK’s tax authority, and it requires crypto investors to pay […]

Tax records are essential for both individuals and businesses, as they provide important documentation for income, deductions, and tax liabilities. Keeping accurate and organized records is not only essential for tax compliance but also for financial planning and management. In this blog, we’ll explore the different types of records that sole traders and limited companies […]

Introduction Value Added Tax (VAT) is a tax on the value added to goods and services during their production and distribution. In the UK, businesses that are registered for VAT must submit regular VAT returns to HM Revenue and Customs (HMRC). Failing to submit VAT returns accurately and on time can result in hefty penalties […]