Author: Wojciech

To avoid 40% tax self employed (known as the Higher Rate), you must legally reduce your taxable profits to below £50,271. The two most effective ways to do this are by claiming all your allowable business expenses and by making pension contributions. This article explains how this works in simple terms. (Note: These figures are…

If you need your SA302 (Tax Calculation) for a loan application, the quickest way to get it is usually through the HMRC website. Option 1: Download from HMRC Website If you filed your tax return yourself via GOV.UK, follow these steps: Note: If you just submitted your return, you usually have to wait 72 hours…

Yes, you absolutely can get a loan if you work for yourself in the UK. While high street banks often find it easier to lend to people with regular PAYE payslips, many specialist lenders now provide loans for self-employed workers, contractors, and freelancers. You just need to be prepared to prove your income is stable…

Yes, you can still use spreadsheets, BUT it is no longer as simple as just typing the numbers into the HMRC website. If you are self-employed, you might currently use a simple spreadsheet to track your income and expenses. Once a year, you probably just type the totals from that spreadsheet into the HMRC website…

If HMRC has asked you to complete a tax self assessment, it’s usually for a simple reason: they believe you have earned income that hasn’t been taxed automatically (like wages are). The most common reason is that you have registered as a self-employed sole trader or have become a landlord. What is a Tax Self…

In the UK, the average hourly rate for a freelance bookkeeper in 2025 is typically between £25 and £40 per hour. This rate varies significantly based on the bookkeeper’s experience, qualifications (e.g., AAT or ICB certified), and location, with rates in London being considerably higher. Why Hourly Bookkeeping Rates Can Be Misleading While paying by…

Making Tax Digital (MTD) is a government programme that changes the way individuals and businesses keep their records and submit tax information to HMRC. If you’re unsure how to get started, this article explains everything in simple terms. 1. How Do I Register for Making Tax Digital? To register for Making Tax Digital, you need…

The short answer is: in most cases, yes. For VAT-registered businesses, MTD is already mandatory. For self-employed individuals and landlords, MTD for Income Tax becomes mandatory from April 2026 if your income is over £50,000, and from April 2027 if it’s over £30,000. If you’re a sole trader, landlord, or run a VAT-registered business, “Do…

Making Tax Digital (MTD) is one of the biggest shake-ups in the UK tax system in decades. It’s designed to make tax administration more efficient, but for many self-employed individuals and landlords, it also raises a simple but crucial question: “How will Making Tax Digital affect me?” If you’re unsure what MTD means for you,…

Making Tax Digital (MTD) is a government initiative by HMRC to make tax administration more efficient and easier for businesses and individuals. For self-employed individuals and landlords, MTD for Income Tax Self Assessment (ITSA) means a new way of keeping records and sending updates to HMRC. This guide will help you understand what counts as…