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.
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.
MTD replaced fixed fines with a points-based system — but quarterly updates carry no penalty points at all in 2026/27. Here is what actually bites this year, and what starts next.
MTD for Income Tax became mandatory on 6 April 2026 for self-employed people and landlords with gross income over £50,000. Here is what you must do now, quarter by quarter.
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.
Claiming meal and subsistence expenses in the UK is more restrictive than in many other countries. HMRC applies strict rules about when travel food costs are deductible and completely bans deductions for client entertainment.
If your business is VAT-registered, HMRC requires detailed records of all VAT charged and paid. This guide covers the three types of VAT invoices, documentation requirements, and how Making Tax Digital affects VAT record keeping.
Compare HMRC's flat rate and actual costs methods for claiming work-from-home tax relief in the UK, with worked numerical examples to help you decide.
