In an era of digital transformation, the UK government has introduced the Making Tax Digital (MTD) scheme to streamline tax processes for businesses. While MTD has been in place for VAT since 2019, expansion has long been planned to include…

The UK government’s Making Tax Digital (MTD) scheme is revolutionizing tax administration, and will expand to include income tax. (Making Tax Digital for VAT has been in place since April 2019.) For small business owners and sole traders, understanding the…

The UK’s IR35 legislation has been a topic of discussion and concern for both employers and contractors alike. Introduced in 2000, IR35 aims to tackle tax avoidance by contractors who operate as ‘disguised employees.’ This blog post will delve into…

Accounting and bookkeeping may not be a favourite business chore, but every entrepreneur knows they are critical. This does not mean that accounting mistakes aren’t made; in fact, some are fairly common. Good accounting processes ensure you keep track of…

Do I Need to Pay VAT? Does your small business need to register for VAT? No company particularly wants to pay VAT, and it’s a complex tax to get your head around, especially if you are a sole trader or…