A Simple Guide to Tax and National Insurance When You Go Self-Employed

When you are self-employed it is your responsibility to work out your own tax and national insurance, then report it to HMRC. This guide covers everything you need to know about self-employment taxes including how much you can earn before you pay tax and national insurance and a calculator help you work out how much you owe.

Claiming for Clothing When You’re Self-Employed

When you’re self-employed you want to claim everything possible to reduce your tax bill. So it is very common for me to be asked whether clothing can be claimed as a tax deductions. It is a grey area, with what is tax allowable being different according to professions and industries. Here is the advice I (more…)

Claiming Food When You’re Self-Employed

If you are travelling around for business reasons it can mean food ends up costing you more money than normal. Especially if you work from home! There are rules that allow you to claim for food when you’re self-employed helping you to reduce your tax bill. When Can You Claim for Food Generally speaking, you (more…)

Self-Employed Tax Rates 2019/2020 (and 2018/2019)

The 2019/2020 tax year begins on the 5 April 2019 and if you are self-employed here are the new tax rates that will affect you. Personal Allowance The personal allowance is the amount you are allowed to earn tax free. The Personal Allowance you are entitled can increase if you claim the Marriage Allowance or Blind Person’s (more…)

How to Reduce Your Tax Bill if You’re Self-Employed

Your tax bill can be the biggest bill that you need to handle when you’re self-employed. But there are ways you can reduce your tax bill if you’re self-employed while staying on the right side of the tax man. How to Reduce Your Tax Bill if You’re Self-Employed Here I share with you 10 ways (more…)

Making Tax Digital for the Self-Employed

If you’re self-employed, then HMRC’s Making Tax Digital will change the way you have to handle your taxes. What is HMRC Making Tax Digital Making Tax Digital is the total digitisation of the UK Tax System. What that means is that if you are self-employed you’ll need to: Keep digital business records; Report figures quarterly (more…)

7. How to Choose the Right Bookkeeping System If You’re Self-Employed

Administration and taxes are a lot easier if you choose the right bookkeeping system. Here’s some advice on what to look for. A bookkeeping system helps you track all your income and expenses. But the right bookkeeping system will be painless to use, track vital information and make it easy to claim expenses that reduce (more…)

Claiming Business Travel When You’re Self-Employed

Knowing what and how to claim business travel when you’re self employed is a confusing area.  To help clarify, here is my guide to what you can and can’t claim as business travel when you’re self employed. Along with a free download to help you record your 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 your home office against your taxes – a flat rate amount or a percentage of your homes actual running costs. The Flat Rate Method of Claiming For Your Home Office The (more…)