Our blog is where we share tips, guides, and insights to help freelancers and small business owners manage expenses, stay tax-ready, and grow their business.
Most sole trader bookkeeping guides skip the most important concept: cash basis accounting. This guide covers what it means, what records HMRC actually requires, and how to build a system that takes 20 minutes a month instead of 10 hours in January.
HMRC explicitly lists bank statements as valid records for self-employed people, but they prove payment, not purpose. Here's when they're sufficient and when you still need the receipt.
HMRC accepts receipts, bank statements, invoices, and till rolls as valid proof of business expenses, but a valid receipt must show specific information, your retention obligation is five years (not six), and Making Tax Digital is changing how records must be kept.
How to register as a sole trader in the UK via HMRC's Government Gateway, what happens after you register, and the financial setup steps every new self-employed person should take in the first 30 days.
Making Tax Digital for Income Tax requires UK sole traders and landlords to keep digital records and submit quarterly summaries to HMRC. Most micro businesses earning under 50,000 pounds will be mandated from April 2027 or 2028.
Guide to UK capital allowances in 2026, covering Annual Investment Allowance (AIA) and Writing Down Allowances (WDA) for business equipment, machinery, and vehicles.
HMRC's simplified expenses scheme lets self-employed individuals and partnerships use flat rates for certain costs instead of calculating actual expenses. This guide covers all three categories and when each makes sense.
HMRC requires every self-employed individual, sole trader, and business in the UK to keep adequate records of their income and expenses. Getting this wrong can result in penalties of up to £3,000.
Guide to MTD for ITSA requirements, thresholds, digital record keeping, and quarterly submission deadlines for self-employed individuals and landlords.
Making Tax Digital introduces a completely new penalty system replacing the old fixed fines with a points-based approach. Learn how it works with worked examples.
Practical step-by-step checklist for self-employed individuals preparing for Making Tax Digital implementation on 6 April 2026, with phase-based deadlines based on gross income thresholds.
Comparison guide for MTD-compatible software options for self-employed individuals and small businesses in 2026, from full accounting platforms to bridging tools.
