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Claiming tax relief on professional training
Keeping your skills and knowledge up to date is important but the cost of professional training can add up. If you are self-employed some training costs may be claimed as allowable business
Tax-free childcare, are you missing out?
With childcare costs continuing to rise, many working families could be missing out on valuable support through the Tax-Free Childcare scheme. The scheme helps eligible parents pay for registered
Late payments still threaten small business cash flow
Late payments remains one of the biggest challenges facing small businesses across the UK. Even companies that are profitable on paper can find themselves under financial pressure if customers fail to
Rising employment costs are changing business decisions
Employment costs continue to rise, and many small businesses are feeling the impact. Higher wage bills, increased employment related costs and the expense of recruiting and retaining skilled employees
Does your business need to register as an employer?
If you are starting to employ staff or engaging subcontractors for construction work, you will generally need to register as an employer with HMRC. This obligation extends even to individuals who are
Self-Employed – Are your business records in order?
As a self-employed individual, whether a sole trader or partner, you must keep accurate records of your business income and expenses to back up your self-assessment tax return. You should also keep
Advising HMRC of change in circumstances
If your personal details or circumstances change, you may need to tell HMRC as this could affect your tax position or entitlement to certain benefits.
You should notify HMRC if you get married or
Is HMRC holding money that belongs to you?
It is important to know if HMRC is holding money that belongs to you. For example, if you have paid too much tax to HMRC, you may be able to claim a tax refund (also known as a tax rebate).
Are you using the best VAT scheme for your business?
Small businesses have several VAT schemes available that can simplify VAT administration and may help with cash flow. However, as a business grows or its circumstances change, it is important to
Claiming tax relief on business insurance
If you are self-employed, you may be able to claim tax relief on certain business insurance costs as an allowable expense. This means the cost can be deducted when calculating your taxable profits,
