Making Tax Digital for Income Tax
A Practical Guide for Sole Traders and Landlords The UK government’s Making Tax Digital for Income Tax (MTD for ITSA) initiative is transforming how sole traders and landlords manage their tax affairs. Starting in April 2026, those with a qualifying income over... read more
Self-employed tax advice from HMRC
HM Revenue & Customs (HMRC) has just posted a list of all their latest webinars providing self-employed tax advice. All the webinars are free, last approximately an hour and have been designed to help self-employed workers understand the tax issues that affect... read more
HMRC changing how they assess profits for sole traders and partnerships
HMRC will be changing how they assess profits for sole traders and partnerships. If you’re a sole trader or partnership, and your accounting date is between 6 April and 30 March, this will affect you. Businesses choose their accounting date when they set... read more
Penalties for overclaimed SEISS grants
HMRC has updated their guidance which sets out the procedure for reporting and repaying overclaimed SEISS Grants (Self-Employed Income Support Scheme). The Revenue is also reminding sole traders and partners who have received these grants, that there are potential... read more