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VAT explained

    VAT is a tax that many people will have heard of but not necessarily know what it means or stands for. VAT stands for value-added tax and is an additional charge added to most consumer goods and services in the UK. You may see a VAT reference on an...

What is an allowable expense and why does it matter?

Photo by Pixabay on Pexels.com If you’ve just set up yourself up as a sole trader or limited company, you’ll undoubtedly have a range of expenses that you’ll need to pay to keep your business up and running. A proportion of these expenses will be classified as...

Self-Assessment

  What is a Self-Assessment? Self-Assessment is a once a year task, required by HMRC, for a host of individuals. Anyone who is self-employed or works through their own limited company will almost certainly need to complete one each year. They can potentially be a...

Sole Trader or a Limited Company?

      As someone who may have just started working self-employed, you may be unsure about whether you carry on as a sole trader or incorporate a limited company and trade through this instead. It’s crucial to understand the differences, both tax and...