The UK Personal Allowance 2023-24

Uk personal allowance

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.

Is Client Entertainment Tax Deductible for the Self-Employed?

client entertainment

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

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

Using Cash Basis for Tax Returns

should you use the cash basis?

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.