Do I Need to Register for PAYE?

Pay As You Earn (or PAYE for short) is the process used by employers to collect Income Tax and National Insurance on behalf of HMRC. Employers make tax deductions from the wages they pay to employees, and then pay the deductions to HMRC, but not all employers need to register. Who needs to register for…

What Taxes Do Sole Traders Pay?

The simplicity of running a business this way means it’s no surprise that setting up as a sole trader is one of the most popular business structures in the UK. But where do sole traders stand when it comes to paying taxes? We’ll take a look at what you need to pay as a sole…

Keeping Records for CIS

If you’re a contractor or subcontractor, you’re likely to have some involvement with the Construction Industry Scheme. While it may seem straightforward when you look at the likes of CIS statements, there’s a heap of record-keeping behind the scenes! Let’s explore the kind of records you should maintain, based on where you stand in the…

Do I Need to Register for CIS?

If you work in the construction industry and you’re self-employed, you’ve probably encountered the Construction Industry Scheme (CIS for short). The scheme is HMRC’s way of collecting income tax from subcontractors who work in the construction industry. We’ll discuss exactly who is expected to register, how it works, and where you can sign up.  …

How Do I Register a Business Partnership?

Embarking on a new business venture is exciting, especially if you’ve decided to start with a friend or a group of experienced individuals. While this process can feel extremely overwhelming at times, you’ll never be in it alone! Your first major business decision will be choosing which business structure to go for. If you don’t…