Sole Trader

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  • Winding up a business.

    Winding up a business

    The decision of how and when to cease a business is usually prompted by a combination of three main factors - market conditions, market forces, and life changes. 

  • Maintaining your NIC contributions record during Covid-19.

    Maintaining your NIC contributions record during Covid-19

    The Covid-19 pandemic has meant that many people will suffer a reduction in income in 2020/21.     

  • Claiming the second grant under the SEISS.

    Claiming the second grant under the SEISS

    Claims for the second grant under the Self-Employment Income Support Scheme (SEISS) can be made from 17 August 2020 onwards. 

  • A woman typing on her laptop copying handwritten notes.

    If you’re self-employed, paying Class 2 NICS give you access to a whole range of benefits

    Subject to certain conditions and limits, self-employed earners over the age of 16 and below state retirement age are currently entitled to pay both Class 2 and Class 4 National Insurance contributions (NICs).

  • Tax implications of Covid-19 support payments.

    Tax implications of Covid-19 support payments

    Various support payments are available to individuals and businesses to help mitigate the effects of the Covid-19 pandemic. Are the payments taxable and how should they be treated?

  • Reasonable excuse – does coronavirus count?.

    Reasonable excuse – does coronavirus count?

    HMRC may allow an appeal against a penalty if the taxpayer has a ‘reasonable excuse’ for why, say, they filed a return late or paid their tax late.

  • Gold Stag Accounts and Starling bank

    Partnership With Starling Bank

    We have partnered with Starling Bank and as users ourselves, can truly recommend them - There's a reason why they won best British bank in 2018, 2019 & 2020.

  • self assessment tax return

    Deferring self-assessment POA – Is it is good idea?

    To help those suffering cash flow difficulties as a result of the Covid-19 pandemic, the Government have announced that self-assessment taxpayers can delay making their second payment on account for 2019/20. The payment would normally by due by 31 July 2020.

  • One and two-pound coins stacked on British bank notes.

    Calculating taxable profits using the cash basis

    Under the cash basis, small businesses are taxed on the basis of the cash that passes through their books, rather...
  • Small businesses boosted by Bounce Back Loans.

    New 100% government backed loan scheme for small businesses

    Small businesses will benefit from a new fast-track finance scheme providing loans with a 100% government-backed...
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