Working From Home Expenses for UK Freelancers
If you run your freelance business from your kitchen table or spare room, part of your household costs can reduce your tax bill. HMRC gives sole traders two …
Category
Finance
Cash flow, pricing, unit economics and the financial basics every owner should know.
Self Assessment for Sole Traders: A Complete Guide
If you work for yourself in the UK, Self Assessment is how you report your profits to HMRC and pay your tax. For a first-time sole trader it can feel like a …
Late Payment Interest: Claiming It From UK Clients
If a business client pays you late, UK law usually lets you claim statutory interest and a fixed sum for debt recovery costs. Many freelancers never use these …
Business Bank Account for Sole Traders: Do You Need One?
If you are a sole trader in the UK, nobody legally forces you to open a business bank account. That does not mean you should run your business through the same …
Mortgages for the Self-Employed: How to Prepare
Getting a mortgage when you are self-employed is entirely possible, but it takes more preparation than it does for someone with a payslip. Lenders want evidence …
Payments on Account Explained for the Self-Employed
Payments on account are the part of Self Assessment that catches most new sole traders off guard. They are advance payments toward next year's tax bill, and in …
The £1,000 Trading Allowance: When to Use It
The trading allowance lets you earn up to £1,000 a tax year from self-employment or side income without paying tax on it. Above that, it can still reduce your …