Nobody wants to pay more tax than they need to, and there is no reason why you should pay more than your fair share. So, in this post, we’re going to look at the different allowances and tax reliefs that a self-employed person can claim. This isn’t tax avoidance, or any kind of shady practice….
Essentially, the most accessible and straightforward way of dealing with HMRC is online. All of HMRC’s digital services can be found on GOV.UK, along with information and other guidance all together in one place. Although HMRC’s digital services can be accessed by anyone, you’ll need to prove your identity to actually use them yourself. There…
When the government announced the Self-Employment Income Support Scheme (SEISS) as a response to the coronavirus pandemic, it was met with sighs of relief by many self-employed people. Open to sole traders and those in partnerships, it provided grant income to help see people through, what turned out to be, more than one lockdown. Of…
A freelancer and a contractor are two different things, though the terms are often used interchangeably. It’s easy to see why the differences between the two are often overlooked, when both are: Forms of self-employment Temporary additions to a company’s in-house workforce Non-salaried Despite these similarities, freelance work is actually a different beast to contracting,…
As a sole trader, you’ll be used to handling everything yourself. From marketing to sales, and everything in-between, it’s down to you. It means that you’re also liable for everything financially, including those tax bills. That’s where expenses come in. It might not sound very exciting, but keeping track of your expenses can significantly reduce…
