Contact Us

We've got you covered

The top metrics every business should track in 2024

Running a successful business demands sharp focus and data driven decisions. While intuition plays a role, tracking key metrics empowers you to make informed choices and unlock your business' true pot...

Find out more

A guide to running a business from home

Operating a business in the same place as where you live is a great way to start and grow an entrepreneurial venture. This guide outlines the key factors to consider when running a home-based business

Find out more

How to start a side hustle and boost your income

Running a side hustle alongside your full-time job is a great way to increase your income. This guide shows you how to get started.

Find out more

Sole trader or limited company – which structure is best for my busine...

Choosing a legal structure is one of the most important decisions for a new business owner, and understanding the options can be challenging.

Find out more

10 things you need to know if you are self-employed

As a self-employed individual you’re paramount to your business. Whether you’re new to self-employment, or you’d like a refresher, check out our top 10 key points in this article..

Find out more

HMRC targets the self-employed for side hustle tax

Self-employed individuals with side hustles are the focus of a new HM Revenue and Customs (HMRC) initiative to improve tax collection and regulation management with digital platform reporting rules.

Find out more

The Cash Basis: What did the Autumn Statement change?

The Government has considered feedback in relation to its consultation on the expansion and simplification of the cash basis for accounting.

Find out more

Key tax dates you need to know if you are self-employed

Staying on top of key dates will ensure you stay on track, meet deadlines and avoid paying penalties and interest. We list the key dates sole traders need to be aware of in this concise guide.

Find out more

Small and micro companies face accounts reporting changes

The Government is planning to introduce new filing requirements for small and micro businesses to “make the filing requirements easier to understand, reduce fraud and error, and improve transparency”.

Find out more

Five questions you should ask your accountant

As a business owner you want your business to be a success and so should your accountant. The relationship with your accountant is important. They are offering a service and you should be satisfied th...

Find out more

A guide to UK company formation

The UK offers countless opportunities for entrepreneurs. But how do you form a company? This guide explains the steps you need to take.

Find out more

Tax for the self-employed

For self-employed individuals, the responsibility for reporting and paying the necessary tax relies solely on the individual. It is therefore important to understand what your obligations are and when...

Find out more

Who needs to file a tax return?

Self-Assessment is the system that was created by HM Revenue & Customs (HMRC) to ensure the correct amount of tax is collected for a tax year. You should therefore check each year whether you need to...

Find out more

Eight ways you can save on tax

Every penny counts in business so being efficient with your tax planning can have significant advantages. This guide outlines eight ways you can reduce your tax payments.

Find out more

How to write an invoice

Writing an effective invoice is important for ensuring you get paid on time for the goods or services you have provided. This guide outlines how to do it.

Find out more

HMRC hits pause on Making Tax Digital for income tax self-assessment p...

HM Revenue and Customs has paused its trial for Making Tax Digital for income tax self-assessment.

Find out more

HMRC seeks out online traders and freelancers over unpaid tax

HM Revenue and Customs (HMRC) is targeting online traders, content creators and social influencers about their tax obligations from digital earnings.

Find out more

Six tips for running a successful business

There are many factors that drive business success. Read our guide to six key tips that will help you grow your start-up.

Find out more

A guide to paying freelance tax

How much tax are freelancers liable for and when do they need to pay it? Read our guide to how the UK tax system affects the self-employed.

Find out more

Sole trader tax changes where year ends don’t match the tax year

HMRC has provided guidance on planned basis period reforms for the self-employed.

Find out more

Sole trader vs limited company – Which is better?

Choosing a legal structure is one of the most important decisions a new business owner needs to make, but it can be difficult to understand your options. This guide outlines the differences between be...

Find out more

Do you need to complete a self-assessment tax return?

Although not everybody needs to complete a self-assessment tax return, there are several situations where you could be required to complete one, even when you are an employee and have tax deducted fro...

Find out more

How bookkeeping works for a sole trader

Unsure what accounting records you need to keep for your business? Learn more about your business bookkeeping responsibilities as a self-employed person, and what information your accountant needs fro...

Find out more

How much National Insurance do I pay?

Individuals in the UK will make National Insurance Contributions (NICs) based employed income or self-employed profits. These NICs contribute to a state pot, which funds state benefits.

Find out more

Self-employed given personal claim date for fourth SEISS grant

HM Revenue and Customs has started informing eligible self-employed professionals of their personal claim dates for the upcoming fourth Self Employment Income Support Scheme (SEISS) grant.

Find out more

How to set up your own limited company

A limited company is a type of business entity. It is designed to be legally separate from its owners, who are known as shareholders in a limited company.

Find out more

More people turning freelance than at any time in the last decade

The UK is experiencing its biggest surge in freelancers and fledgling entrepreneurs for more than a decade.

Find out more

What to consider when becoming self-employed or a sole trader

If you are considering joining nearly half-a-million people who chose to start-up their own business in 2020, this webinar will be explain what you need to do if you are planning to set up your own bu...

Find out more

Almost half-a-million new UK start-ups registered in 2020

The UK’s entrepreneurial spirit is very much alive and kicking if Companies House data for new start-ups in 2020 is to be believed.

Find out more

Budget 2021: Self-Employment Income Support Scheme extended

In the Budget on 3rd March, further extensions were announced to the Self-Employment Income Support Scheme.

Find out more

Public Accounts Committee quizzes HMRC over forgotten freelancers and...

The Public Accounts Committee (PAC) has turned up the heat on HM Revenue and Customs (HMRC) over the forgotten limited company directors and freelancers who have not received the financial support the...

Find out more

All you need to know about claiming the latest Self-employment Income...

Self-employed individuals who are eligible for the latest cash grant under the Self-employment Income Support Scheme, will be able to make claims from 30th November.

Find out more

10 tips for your business for the year ahead

With the dawn of a new year, this is a perfect time to give your business the New Year start it deserves – here are our top business planning tips to protect your business in 2021.

Find out more

Welsh Government announces new COVID-19 aid packages for businesses an...

Following the UK Government’s Summer Economy Plan, The Welsh Government has unveiled £140 million in new funding schemes to help small businesses, as well as new grants for freelancers in the creative...

Find out more

Parliament debates lack of COVID-19 financial aid for small limited co...

Millions of small limited company directors who have missed out on financial aid from the Government during the COVID-19 crisis had their plight debated in the House of Commons after a petition launch...

Find out more

How to start a business

If you are thinking about launching your own business there are a number of things to consider and put in place so your start-up gets off to the best possible beginning.

Find out more

Chancellor reassures MPs over the prospect of tax rises

Amid reports of potential ‘historic’ tax grabs, Chancellor Rishi Sunak has moved to reassure Conservative MPs that a “horror show of tax rises with no end in sight” is not on the cards, despite having...

Find out more

Changing from sole trader to limited company

Find out how to change from being a sole trader to being a limited company, including related costs and transferring property ownership.

Find out more

Two-fifths of small firms anticipate growth as lockdown restrictions e...

The latest Q2 2020 Small Business Index has been published by the Federation of Small Businesses, providing a snapshot of confidence among small businesses and sole traders nationwide.

Find out more

What business expenses can a sole trader claim?

Find out more about the business expenses that you can claim tax relief on as a self-employed sole trader, as well as how to claim the money back.

Find out more

Why and how sole traders can become VAT registered

Find out everything you need to know about registering for VAT as a sole trader, including the current earning threshold past which you must become VAT registered.

Find out more

What is a sole trader?

A sole trader is a self-employed individual who owns and runs their own business as an individual and, as their business isn’t a separate legal entity to its owner, a sole trader is their business.

Find out more

How to claim for the Self-employment Income Support Scheme grant

How to claim and find out if you are eligible for the Self-employment Income Support Scheme

Find out more

Freelancer ‘boom’ amid the COVID-19 lockdown

The number of professionals turning to freelance work during the coronavirus lockdown has risen four-fold, according to leading freelance platform.

Find out more

TaxAssist Accountants urges Chancellor to take action to support self...

TaxAssist Accountants has written an open letter to the Chancellor of the Exchequer, Rishi Sunak, to highlight the lack of help and funding for large sections of the self-employed and the small busine...

Find out more

Chancellor announces Self-Employed Income Support Scheme

Chancellor of the Exchequer, Rishi Sunak, has announced the Self-Employed Income Support Scheme, which aims to protect self-employed professionals and members of partnerships.

Find out more

The benefits of having your tax return filed early

Although the deadline is months away, did you know there many benefits to filing your return sooner rather than later?

Find out more

Initial support for self employed individuals

There was relatively little content relevant for self-employed individuals and the Chancellor has suggested that specific measures will be introduced in the coming week.

Find out more

HMRC launches new helpline for taxpayers affected by coronavirus

HMRC has launched a new helpline to support businesses and self-employed people concerned about not being able to pay their tax because of COVID-19.

Find out more

What expenses to claim for when working from home

With many people still working from home, establishing what expenses can be claimed for is important and in this article, we look at what you may be entitled to.

Find out more

Self-employed fear mortgage applications

71% of self-employed professionals believe it is harder for them to get a mortgage application accepted than full-time employed applicants.

Find out more

Tax saving tips for you and your business

Delving through the array of allowances and reliefs available to help minimise your tax liability can be a daunting process. It can be tricky for small business owners to establish what's available an...

Find out more

Record high levels of self-employment in the UK

New figures from the Office of National Statistics show that 4.97 million people in the UK are now self-employed professionals.

Find out more

Read our expert answers to your Self Employed questions

How long do I need to keep my tax records?

Now that I’ve submitted my tax return, can I throw the supporting documents relating to my business and P60 away? I’ve got a lot of paperwork from over the years and it’d be great to have a sort out.

Find out more

Can I save tax by running my business through a limited company?

I am a sole trader plumber and am wondering if I could save tax be running my business through a limited company? My taxable profits are around £60,000, and I anticipate they will remain at around thi...

Find out more

Can I claim for working from home tax relief?

As a self-employed builder I am mostly working elsewhere but I do work from home to do my books. Am I able to claim for use of home on my tax return?

Find out more

Is a limited company the best entity for my business?

I’m starting up in business as a limited company, is this the best entity for me and can anybody access my accounts?

Find out more

How do I work out turnover to allow me to claim a fifth SEISS grant?

I complete my own books and I’m eligible to make a fifth Self-employment Income Support Scheme claim but HMRC have contacted me and said I need to have turnover figures to make a claim. Where do I fin...

Find out more

Choosing to be a limited company or sole trader as a contractor

As a CIS contractor on top of the normal issues surrounding whether to be a limited company or a sole trader, are there any CIS specific issues to be aware of?

Find out more

How do I get a tax refund if I am a subcontractor?

I’ve been working as a labourer for a couple of years now. One of my friends mentioned that he'd just got a big tax refund. How do I get a tax refund?

Find out more

Class 2 National Insurance Contributions and state benefits

I’m self-employed and haven’t paid all of my tax due for 2019/20, will this affect my entitlement to state benefits?

Find out more

Will I be able to claim the second self-employed support grant?

"I previously didn’t claim any self-employed grant (SEISS) as I wasn’t affected by COVID-19, will I be able to claim the second support grant?"

Find out more

Where do I find my UTR number?

Where to find your Unique Taxpayer Reference (UTR) number or Corporation Tax UTR number.

Find out more

What is a UTR number?

A Unique Taxpayer Reference number (UTR number) is a ten-digit number that is used by HM Revenue & Customs (HMRC) to identify taxpayers.

Find out more

Must I stop working if I am covered by the Self-Employment Income Supp...

If I wish to claim support under the Self-Employment Income Support Scheme. Does this mean that I must stop working?

Find out more

How to claim help under the Self-Employment Income Support Scheme?

When and how can I claim support under the Self-Employment Income Support Scheme?

Find out more

Self-Employment Income Support Scheme: what is meant by profits?

I think I may be eligible for the Self-Employment Income Support Scheme, as the guidance says my trading profits must be less than £50,000. What is meant by ‘profits’? Are these the sales that I make...

Find out more

Can I claim for Job Retention Scheme if I am an employee and self-empl...

I am self-employed (less than 50% of my income) as well as being in full-time permanent employment. It is possible that I’ll be furloughed from my day job very soon, and I am wondering if my self-empl...

Find out more

Tax Credit estimates

I submitted my Tax Credit forms with my estimated income for the year - I have now completed my tax return but do I need to tell Tax Credit Office?

Find out more

See how TaxAssist Accountants can help you with a free, no obligation consultation

0203 325 9825

Or contact us