Anita Forrest

The UK Personal Allowance 2023-24

The UK personal allowance is set at £12,570 for 2023-24. Here’s how it works, how to claim it and how it is clawed back from higher earners.

Income Tax Bands Scotland 2023-24

Here are the Scottish income tax bands and thresholds for the tax year 2023-24 which affect individuals resident in Scotland.

Is Client Entertainment Tax Deductible for the Self-Employed?

Client entertainment is not a tax-deductible expense if you’re a sole trader (or even if you formed a Limited Company). Unfortunately, after many years of business owners abusing their deductions and putting through personal entertainment costs as a business expense, HMRC has taken the approach to make all client entertainment a disallowable expense. In addition, … Read more

Advantages of Being a Sole Trader

Find out the advantages of being a sole trader if you are setting up a business in the UK including taxes, reporting and registration

Beginners Guide to Setting Up as a Sole Trader

Find out how to set up as a sole trader, how to complete the registration process with HMRC and your responsibilities including taxes and expenses.

The UK 60% Tax Trap Explained (63% in Scotland)

Find out how the UK 60% tax trap works (which is 63% in Scotland), who has to pay the 60% tax rate and why in this post.

Ways to Accept Online Payments for your Small Business

Are you wanting to increase your payment options for your small business? If your answer is yes, then you’ll be making things much easier for yourself and for your customers to pay you. When you accept online payments for your small business, you’ll limit the amount of paper trails and find all your financial data … Read more

Accounting Software for Sole Traders

Any self-employed person who runs their own business knows that balancing everything from marketing to accounting is a great deal to manage. However, the workload of crunching numbers almost becomes a doddle when you enlist the help from accounting software. While you’re focusing on the day-to-day business tasks, accounting software for sole traders can save … Read more

Self-Employed Maternity Allowance Explained

Find out what maternity allowance is available for the self-employed, how to apply & how long it’s paid for while you take time away from your business.

Using Cash Basis for Tax Returns

Understand the cash basis for tax returns, the rules around who can and can’t use this tax scheme and the advantages the cash basis can bring.