Category: Self-Employed Tax

What are Allowable Expenses? Allowable expenses are simply the costs of running your business. To be ‘allowable’, an expense must be ‘wholly and exclusively’ for business purposes. This means the cost must be entirely for your business and not for personal use. If something is used for both business and personal reasons, you can only…

Being your own boss in the UK offers incredible freedom and flexibility, but it also comes with the responsibility of managing your own taxes. For many new and aspiring self-employed individuals, the tax system can seem daunting. A frequent and crucial question is: “How much can I earn self-employed before doing a tax return?” This…

If you are searching for a self employed tax accountant near me, you’ve come to the right place. I offer friendly and affordable tax and bookkeeping services for people running their own business in and around Newmarket, Cambridge, Ely, and Bury St Edmunds. Being self employed has many benefits – freedom, flexibility, and the chance…

If you’re self-employed in the UK, knowing when to pay tax when self-employed is just as important as knowing how much you owe. Missing a deadline can lead to penalties, so it’s good to be clear on the dates. Key Deadlines for Self-Employed Tax The UK tax year runs from 6 April to 5 April,…

If you are self-employed in the UK, you might be asking: can self employed pay tax monthly? The good news is, yes – there are options to spread the cost of your tax bill instead of paying it all in one go. How self-employed normally pay tax Self-employed people usually pay Income Tax and National…

If you are self-employed in the UK, you must pay tax on the money you earn. But the good news is, there are legal ways to reduce your tax bill — and in some cases, you may pay no tax at all. Here’s how to avoid paying tax on self-employed income the right way. 1.…

If you are self-employed in the UK, one of the biggest questions you may have is: how much money should I put away for tax self-employed? Unlike employees, tax is not taken from your wages automatically. You are responsible for saving enough to pay your tax bill each year. Why saving for tax is important…