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How to set up as a sole trader

So you’ve had enough of being on the treadmill working for someone else and decided it’s time to break free and go solo. The good thing is you’re not alone as the number of sole traders, which are classed as businesses with no employees, grew 25% quicker than any...

Spring Statement 2018: round-up

Chancellor Philip Hammond resisted any temptation to make significant tax changes for the sake of it when delivering his first Spring Statement on 13 March 2018. There were no juicy rumours in the lead-up to the event, no red briefcase and no photoshoot outside 11...

Deregistering for VAT

If sales are slowing down in your business and forecasts look like your taxable turnover will bring you under the VAT threshold, it’s probably time to consider deregistering for VAT. You can only do this if your business expects its taxable sales in the next 12 months...

Online tax returns – FAQs

New year marks a busy period for nigh on 5 million self-employed workers, with the deadline for submitting online tax returns fast approaching. You should already have registered for self-assessment with HMRC and received your 10-digit unique taxpayer reference (UTR)....

Key changes from Autumn Budget 2017

Nobody quite knew what to expect from Autumn Budget 2017, with the government remaining tight lipped in the run-up to the chancellor’s unusually witty speech. Normally rumours, or a lack of them in this case, are a sign of things to come and it was no different when...

Sage One – the basics

Most traditional accounting software is outdated and often tedious to use, but if you’re mindful of the ongoing transition towards digital accounts it’s likely you’ll be aware of cloud accounting. For those of you who aren’t, what sets cloud accounting apart is that...

Receiving your state pension

The government has confirmed the state pension age will rise to 68 between 2037 and 2039 – much earlier than originally planned between 2044 and 2046. So if you were born between 6 April 1970 and 5 April 1978 you will have to remain in work for an extra year before...

Tips to reduce your corporation tax bill

Although we’ve yet to reach the year-end, it’s always good to plan ahead when it comes to managing your taxes. All companies are required to pay corporation tax on any profits made during their accounting period. The rate for company profits in 2017/18 is 19%. While...

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