Making Tax Digital (MTD) for Income Tax has now arrived, and many sole traders, landlords and self-employed individuals will soon need to comply with the new reporting requirements. From 6 April 2026, individuals with qualifying gross income over £50,000 will be required to use MTD-compatible software to submit digital reports to HMRC. For many taxpayers,…
Can I Put This Through the Business as an Expense? One of the most common questions business owners ask is, “Can I put this through the business as an expense?” The answer depends on one fundamental tax rule. For a business expense to be allowable for Income Tax or Corporation Tax purposes, it must be…
Are you are exempt from Making Tax Digital (MTD)? The first phase of Making Tax Digital (MTD) for Income Tax is fast approaching, as the new system of digital tax reporting begins on 6 April 2026. However, some landlords, self-employed individuals and sole traders may still be wondering whether the rules apply to them and…
The next phase of Making Tax Digital (MTD) is fast approaching — and many sole traders and landlords will soon need to change how they report income to HMRC. From April 2026, the first wave of taxpayers will be required to comply with Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA). Early preparation…
Making Tax Digital (MTD) is entering a new phase, and many sole traders will soon be required to change how they report income to HMRC. From April 2026, sole traders and landlords with gross qualifying income over £50,000 will be required to comply with Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA). From…
Periods of trading loss are challenging — but they can also create valuable Corporation Tax relief opportunities if managed correctly. Understanding how trading losses operate under UK Corporation Tax rules allows businesses to improve cash flow, recover tax previously paid and plan strategically for future profitability. The legislation is clear, but the practical application is…
One of the most important decisions you will make when starting — or growing — a business is how it is structured. Your chosen structure affects: If you are already trading, it is never too late to review whether your current structure remains the right fit. Why Business Structure Is Not a Box-Tick Exercise There…
For company directors, deciding how to pay yourself is one of the most important financial decisions you will make. For many directors, a combination of salary and dividends remains the most tax-efficient approach. However, the optimal balance can change from year to year depending on tax rates, National Insurance thresholds and your personal circumstances. Careful…
Funding is often the biggest barrier for new businesses — and it remains just as important as your company grows and develops. There are many funding options available in the UK, but the key is choosing the right type of funding for what your business actually needs. Different funding methods come with different implications for…