by Kate | 12 Oct, 2026 | Payments On Account, Self Assessment, Sole Trader Guides, Sole Trader Tax, Tax Deadlines
You know you’ll need to pay tax on your sole trader profits. But when does HMRC actually expect the money? For many sole traders, the surprise isn’t how much tax they owe. It’s when they have to pay it. Here’s how the deadlines work, wherever...
by Kate | 2 Oct, 2026 | Bookkeeping, Business Advice, Sole Trader Accounting, Sole Trader Guides, Sole Trader Tax
Money comes into your business. Money goes out. But how much have you actually made? That’s where understanding the difference between turnover and profit matters. As a sole trader, you’ll hear turnover and profit mentioned regularly. They mean different things, and...
by Kate | 25 Sep, 2026 | HMRC, Self Assessment, Sole Trader Accounting, Sole Trader Guides, Starting & Running a Business, Tax, Uncategorized
Started working for yourself? Whether you call it freelancing, a side hustle or running your own business, there comes a point when HMRC needs to know about it. If you earned money as a sole trader during the 2025/26 tax year, you may need to register for Self...
by Kate | 11 Sep, 2026 | Accounting Basics, Bookkeeping, Making Tax Digital, Self Assessment, Sole Trader Guides
Running a business creates paperwork, even when most of it is digital. Good record keeping makes bookkeeping easier, helps you claim the right expenses and means the information you need is ready when it comes to dealing with HMRC. What records should a sole trader...
by Kate | 4 Sep, 2026 | Managing Your Money, Self Assessment, Sole Trader Guides, Sole Trader Tax, Starting & Running a Business
When you work for yourself, tax is not taken from your income before it reaches your bank account. That means part of the money coming into your business may need to be kept aside for HMRC. So, how much should you save? Start with 20% to 30% As a general starting...
by Kate | 28 Aug, 2026 | Bookkeeping, Self Assessment, Sole Trader Accounting, Sole Trader Guides, Starting & Running a Business, Tax
Running a business costs money. Tools, software, travel and other everyday business costs can all affect how much profit you pay tax on. But not everything you spend counts as a business expense. Here’s what you need to know. What is an allowable expense? An...
