Business

Here are some useful things to know for UK freelancers and small businesses over the festive period:

The VAT default surcharge is being replaced with a new VAT penalty and interest regime.

The UK government offers a £1,000 property allowance, meaning you don't need to pay tax on that income or even declare it to HMRC

Here's a quick overview of the Autumn 2024 Budget.

Working from home has become the norm for many, and with that comes the opportunity to claim tax relief on certain expenses.

HMRC commonly find errors in relation to directors’ loan accounts when making routine reviews of company tax returns.

Running a limited company, whether as a freelancer, solopreneur, or with a small family team, offers flexibility and tax advantages. Here's how you can optimise your finances:

If you are an employee and you personally incur expenses in carrying out your job, you may be able to claim tax relief for those expenses.

When calculating your profits, expenses are deductible to the extent that they are incurred wholly and exclusively for the purposes of the business.

Running a family business is a team effort, you're the heart and soul of the operation. But when it comes to paying yourself, things can get confusing faster than a toddler with a box of crayons.