Tax Education
It’s time for school. We will teach you all you need to know about tax. Here you will find easy-to-understand blogs, bitesize information and facts about tax. No talking at the back!
Starting a new business? Get 40% off our accountancy services for 3 months! 😎
It’s time for school. We will teach you all you need to know about tax. Here you will find easy-to-understand blogs, bitesize information and facts about tax. No talking at the back!
If it isn't much, you're in the right place. From profits to losses and any allowable expenses in between, we’re here to simplify business tax.
Income Tax, National Insurance Contributions (NICs) and VAT (Value Added Tax). We’ll explain the key points you need to know about each of them.
If you run a business in the UK, then yes! Take a look at the most frequently asked questions below, find a blog, or send us a message.
Maybe! The Trading Allowance means you can earn up to £1,000 in a tax year from self-employment or property, and you won't need to pay tax on it, or even report it to HMRC. Just make sure that you keep good records to help you monitor your earnings. Learn more about the Trading Allowance.
Absolutely - just make sure you get enough sleep at night! Sole traders aren't legally separate from their business, so you won't need to register them all separately. List each business on your Self Assessment tax return with a separate section for each one. Find out more.
You may be able to claim back VAT you paid before registering (up to a point!). But you can't charge VAT on invoices until you register, so you won’t collect any VAT to pay on to HMRC. Just make sure you register in plenty of time.
Yes, it is. Companies can issue different types of shares to help them be more flexible. For example, two shareholders could own the company equally, but only one is entitled to receive dividend payments or receives them at a lower rate.
The Trading Allowance means you can earn up to £1,000 from self-employment in a tax year before you need to report it to HMRC, register as self-employed, or pay tax on it. If you do need to register then you can include your total expenses on your tax return. This amount will be deducted from your income, so you'll only pay tax on the profits. What type of tax return you need to submit depends on what sort of business structure you choose!
Learn more about choosing a business structure.
As a director you’re actually entitled to Statutory Maternity Pay (SMP) just like any other employee - as long as you meet the eligibility criteria. If you’re not eligible for SMP, you could instead claim Maternity Allowance.
Learn more about maternity pay for self-employed people.
As a director you’re legally separate from your limited company even if you’re also the owner. This means you’re not allowed to…
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Read MoreWe want to demystify tax for businesses, owners, and casual side-hustle dabblers, by providing easy-to-understand guidance.
It all started when news reports and social media posts started using the phrase ‘side hustle tax’ to describe the new digital platform reporting rules. It led to months of confusion and panic.
But, guess what? There is no ‘side hustle tax’.
We helped journalists from major news sites explain what was happening and clear up the confusion, so now we’re on a mission to teach everyone about tax.
Let us help! Our online blogs and guides include a huge range of tax and business related topics, or you’re more than welcome to send us your questions. Tap the button below, and put ‘Tax Education’ as the subject line.
Ask The AccountantThe number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?
Please contact our sales team if you’re unsure
It is unlikely you will need this service, unless you are voluntarily registered for VAT.
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Call us on 020 3355 4047 if you’re not sure.
You will receive our bookkeeping software Pandle for free, as part of your package.
You can use this to complete your own bookkeeping, or we can provide a quote to complete your bookkeeping for you.
Please select and option below:
Call us on 020 3355 4047 if you’re not sure.