Are there benefits of being VAT registered? I am a freelance graphic designer earning roughly £50,000 per year, I am currently not VAT registered but am wondering if there are any benefits of voluntarily registering for VAT?     VAT registration threshold If your VAT taxable turnover exceeds the VAT registration threshold you have to… Read More

National Insurance for the Self Employed In this article we explain what national insurance is and how much national insurance you will have to pay when you are self employed. National insurance has had changes over the years but the fundamental concept is that it is a form of tax paid by workers and the… Read More

What travel expenses can a self employed hairdresser claim? I have been working in employment as a hairdresser for several years but am about to take the plunge and become self employed and am a little confused as to what travel expenses I will be able to claim. Some of my work will take place… Read More

How much tax do you pay on dividends This article explains how much tax you will pay on your dividends for the 2018/19 tax year. It has been written from the perspective of a UK limited company owner who extracts dividends from their own company. This is often done with a combination of a low tax… Read More

Payments on account due by 31 July 2018 The second payment on account for the 2017-18 tax year is due to be paid to HMRC by 31 July 2018 – the first payment on account was due by 31 January 2018. Your payments on account are advance payments made towards your personal tax for each… Read More