From April 2026, Making Tax Digital for Income Tax Self Assessment (MTD ITSA) will significantly change how sole traders report their income to HMRC. If your annual turnover from self-employment or property income exceeds £50,000, you’ll be required to keep digital records and submit quarterly updates using MTD-compatible software. Those earning over £30,000 will follow…
Side hustles have never been more popular. From online shops and consulting work to creative services, trades, and coaching, thousands of people now earn extra income outside of traditional employment. In the early stages, operating as a sole trader is often the simplest and most flexible way to get started. It allows you to test…
Running a small business is a rewarding journey, but it’s rarely a smooth one. From economic fluctuations and rising costs to shifts in customer demand, unexpected challenges can arise at any time. For small and medium-sized enterprises (SMEs), these pressures can quickly impact confidence, profitability, and cash flow. The key to long-term success lies in…
From April 2026, Making Tax Digital (MTD) for Income Tax will transform the way sole traders record and report their earnings to HMRC. While that might sound like a big change, getting prepared early can make the transition much smoother, and even bring new efficiency to how you manage your finances. Here’s how to get…
Running a small business is an exciting journey, but it also comes with plenty of challenges, especially when it comes to managing your finances. Accounting mistakes don’t just cause headaches; they can cost you time, money, and even your peace of mind. Here are 7 of the most common mistakes small business owners make and…
Making Tax Digital for Income Tax Self Assessment (MTD ITSA) is a big change coming to many sole traders and landlords, but it’s also a fantastic opportunity to modernise how you manage your finances. Rather than seeing it as just another requirement, we believe it’s a chance to take control, get more visibility, and work…
Being self-employed gives you a lot of flexibility, but summer can still bring its own set of challenges. Whether you’re juggling school holidays, facing a seasonal dip in income, or just trying to stay on top of your accounts when you’d rather be enjoying the sunshine, planning ahead can make a big difference. Juggling Kids…
If you’re self-employed, a landlord, or have other income that isn’t taxed at source, you may have heard of payments on account. It’s a part of the UK tax system that often causes confusion, but don’t worry, it’s actually quite straightforward once you break it down. Let’s take a quick look at what it means,…
When HMRC comes knocking, it can feel daunting. Whether it’s a full tax enquiry or a quick question about your VAT return, dealing with HMRC can be time-consuming, stressful and costly. That’s where Fee Protection comes in. What is Fee Protection? Fee Protection is a type of insurance that covers the professional fees incurred if…
The UK government’s Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) is set to change the way many self-employed individuals and landlords report their income tax. If you fall within the scope of these changes, now is the time to prepare. In this blog, we’ll outline who must comply, what it means for you,…