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Self Employment Taxes

Self Employed Tax Tip: Claiming Home Office Expenses

Tax Tip for the Self Employed: Claiming Home Office Expenses

If you are self employed and work from home, then there are two methods you can choose from to claim for the cost of...

Tax Tip for the Self Employed: Budgeting for Your Tax Bill

When you're self employed everything you are paid will be untaxed and it is your responsibility to work out how much tax you have...
HMRC Overlap Relief

HMRC Overlap Relief

Overlap profits occur mainly when someone who is newly self employed chooses an accounting period that is not the same as the tax year....
HMRC Overlap Profits

HMRC Overlap Profits

When you are self employed you pay tax on your business profits according to the tax year (6th April to 5th April) you make...
What is an HMRC Basis Period

What is an HMRC Basis Period

Definition of the HMRC Basis Period A basis period is a term used by HMRC referring to the time period on which someone who is...

Tax Tip for the Self Employed: Tax Losses & Class 4 National Insurance

When it comes to working out your tax and national insurance when you are self employed, it is important to appreciate that the calculation...
Self Employed Tax Losses

Tax Tip for the Self Employed: The Strategic Use of Tax Losses

Making a loss in business is perfectly normal however if you are self employed it can be worrying. Will anyone see it? What will...
Self Employed: Annual Investment Allowance

Tax Tip for the Self Employed: Annual Investment Allowance

When you are self employed you are responsible for buying all the tools and equipment you need to run your business.  If you have...
Capital Allowances

Capital Allowances

HMRC sets out certain rules when it comes to claiming tax relief on fixed assets.  You are still entitled to claim for full tax...
HMRC £1,000 Trading Allowance for Self Employed & Freelancers

Tax Tip for the Self Employed: HMRC £1,000 Trading Allowance

The HMRC £1,000 Annual Tax Allowance is a great little tax break that can really benefit you if you are newly self employed or...

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