Category: Self-Employed Tax
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Why am i paying 30% tax self employed
If 30% is being deducted from your wages, it is because you are not “verified” with HMRC. This usually means you haven’t registered for the Construction Industry Scheme (CIS). Because you aren’t in the system, the taxman forces your contractor to take a higher rate of tax as a precaution. Here is exactly how it…
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How Much Self Employed Tax Will I Pay
The most accurate way to answer this right now is to use the HMRC Tax Calculator. Do not guess or try to do the math yourself. HMRC provides a free, official tool that tells you exactly what you need to set aside based on your specific earnings. How to Find the Calculator The calculator is…
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Accountant vs Bookkeeper: Which Service Does Your Business Actually Need?
The Short Answer The main difference is timeframe and focus. Which do you need first? Most small businesses need a bookkeeper first. You need someone to track money coming in and out accurately from day one. You generally bring in an accountant closer to year-end to file your taxes, or quarterly if you need high-level…
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Accountant Fees in the UK: What Should a Small Business Expect to Pay?
To give an immediate benchmark: for a standard UK small business or sole trader, professional accounting fees typically range from £60 to over £300 per month. For a sole trader with low volume, you can expect to pay around £60 per month. As a business grows into a limited company or becomes VAT-registered, fees usually…
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What to Look for in a Small Business Accountant: A 2026 Guide
In 2026, a small business accountant should be more than just a “tax filer.” You need a strategic growth partner who understands your specific industry, operates on a digital-first basis (essential for Making Tax Digital compliance), and offers proactive advice on cash flow and profitability throughout the year—not just at the deadline. Why the “Once-a-Year”…
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Self Employed Tax Form UK: 2026/27 Guide
For the 2026/27 tax year (which runs from 6 April 2026 to 5 April 2027), the rules are changing for some people. Here is the simple guide to getting it right. 1. What is the “Form”? For most people, the form is still the Self Assessment Tax Return (form SA100). You usually fill this in…
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10 Things You Didn’t Know You Could Claim (Self-Employed UK)
If you are self-employed in the UK, you pay tax on your profits, not your total income. That means: Income – Expenses = Taxable Profit Every valid expense you forget to claim is money you are voluntarily handing over to HMRC. While everyone knows about “mileage” and “laptops,” here are 10 lesser-known or commonly missed…
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Self Employed Pension – UK Guide
What is a self-employed private pension? In short: A self-employed pension is a private savings pot that you set up yourself to pay for your life after you stop working. Because you don’t have an employer to sort it out for you, you are responsible for starting it. The government encourages you to do this…
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Can I be self employed and have a second job?
In the UK, it is perfectly legal to have a regular job (where you are an employee on a payroll) and be self-employed at the same time. Many people do this to earn extra money, test a business idea, or turn a hobby into cash. Here is what you need to know to do it…
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Change to Side Hustles UK tax in 2029?
If you are an employee who also makes money from a “side hustle” (like selling on eBay, Vinted, or freelancing), a major change is buried in the government’s latest financial plans. Starting in 2029, HMRC plans to stop giving you a choice on how you pay your side-hustle tax. Instead of paying a lump sum…