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Tax and NIC for the self-employed

If you are self-employed and operate as a sole trader or run an unincorporated business, you will need to register as self-employed with HMRC.    Unlike a company (which is a separate legal entity), if you are self-employed, you do not benefit from limited liability (unless you are operating a limited liability partnership).

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Should you incorporate your property business?

If you have a property rental business, you may be running it through a limited company, or you may be running an unincorporated business and wondering whether you should incorporate. There are advantages and disadvantages to incorporation so read on!

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Voluntary Tax Disclosure

If you discover you owe more tax than you’ve declared, it’s best to inform HMRC by making a voluntary disclosure. This may seem daunting, but HMRC knows that mistakes happen and has a process for you to disclose them. Here’s a handy guide.

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Corporation Tax post 1 April 2023

Corporation Tax is being reformed from 1 April 2023. The changes may affect how much corporation tax you pay and how you calculate your corporation tax liability. It is important to understand what the changes may mean for your business.

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What is an Associated Company?

If you are within the scope of corporation tax from 1 April 2023 a company will pay corporation tax at 19% if its profits are below the lower profits limit, whereas a company will pay corporation tax at 25% if its profits exceed the upper limit.

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Cost of Living Support Measures

The UK Chancellor, Rishi Sunak, today announced a raft of support measures including grants and other financial support packages to help those most impacted by the UK cost of living crisis.

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