Tax guides, deductions, and compliance for freelancers and small businesses across US, UK, Canada, and Australia.
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.
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.
Starting from 6 April 2026, self-employed individuals and landlords with gross income over £50,000 must keep digital records and submit quarterly updates to HMRC using MTD-compatible software.
If you use your personal vehicle for business in the UK, you can claim mileage allowance from HMRC. This guide covers the current rates, how to keep a proper mileage log, and when to use actual costs instead.
Complete list of allowable self-employed expenses in the UK, covering every deduction category, the wholly and exclusively test, simplified expenses, and how to evidence every claim for HMRC.
Guide to self-employed National Insurance contributions in the UK, covering Class 2 and Class 4 rates, thresholds, and strategies to reduce your NI bill.
