Allowable expenses for the self employed We thought it would be useful to go through some of the most common allowable expenses that you can claim when you are a self employed freelancer. This advice is for Sole Traders not Limited Companies. This guide does not cover every type of business expense, just the ones… Read More

It is quite a popular option amongst our micro company, freelancer and contractor clients to work from a garden office, so we have outlined the tax implications of this below (this is for people trading through a Limited Company). Corporation Tax Your company can pay for the full cost of the garden office assuming it… Read More

Businesses that turnover under the current VAT threshold (£81,000 per annum) are able to use the simplified cash basis to prepare their accounts for the tax year 2013-14. The scheme is open to sole traders and partnerships and could simplify the accounting process for millions of small firms across the UK. Recording Income Under the… Read More

If you are a freelancer / sole trader then you have to be careful with training and development costs to ensure they qualify for tax relief. Where the object of the training is to learn a new skill or qualification then you will not be allowed to claim this cost, nor can you claim associated… Read More