Business start-ups

The tax system for the self-employed

If you start working for yourself, you must register with HMRC.

Read more

Employed or self employed?

The question as to whether someone is employed or self employed is not as straightforward as it might at first appear. Many people assume they are free to choose, but HMRC emphasise that this is not the case.

Read more

Business deductions

In order to attract a deduction in computing the profits of a trade or business, any expenses must be incurred wholly and exclusively for the purpose of the trade.

Read more

The construction industry

There are special tax rules affecting the construction industry, which are designed to ensure that tax is paid by workers in the sector whether they are employed or self employed.

Read more

Claiming expenses

The rules which determine what expenses can be deducted from profit for tax purposes are essentially the same whether you operate as a limited company, sole trader or partnership.

Read more

Choosing your accounting date

You are free to select your choice of accounting date. Under the current year basis, the taxable profit for a particular tax year is determined by the accounts that end in that year.

Read more

Buying a business

Buying an established business that someone else wishes to sell provides a path that many follow to fulfil their desire to enter into business or expand existing operations.

Read more

Claiming expenses

The rules that determine what expenses can be deducted from profit for tax purposes are essentially the same whether you operate as a limited company, sole trader or partnership.

Read more

The national minimum wage and the national living wage

An employer must pay their workers a minimum amount per hour as defined by law. This is referred to as the national minimum wage or the national living wage.

Read more
Syndicate content