This is a beginner’s guide to self-assessment, designed to help sole traders who are just starting out or performing a tax return for the first time.

What are business rates? Business rates are one of the UK’s oldest taxes; its origins can be traced back to the Poor Law of 1601. Business rates can be roughly defined as the tax paid for the occupation of a non-domestic property.

As well as the exciting stuff like naming your business and finding new customers, you also need to make sure you stay on the right side of the taxman and the law, and part of this is picking the right structure for your new business.

IPSE’s director of policy, Andy Chamberlain, told Small Business: “If you operate as a sole trader, it’s a bit more straightforward than a limited company.You work and get paid as an individual – which is the way most freelancers work. You still have to pay tax on your profits but there are fewer compliance burdens than those that work via a limited company.

Providing mileage allowance for employees who drive for work has become more popular in recent years. But with HMRC’s many rules, it can be confusing for employers and employees alike how this process works.

Business grants England 25. Mobile Boost Scheme. Connecting Devon and Somerset’s (CDS) Mobile Boost Scheme, has been designed to help small businesses and households who currently have adequate outdoor but poor indoor mobile coverage. The initiative aims to improve the quality of mobile phone calls and connectivity.

Jun 17, 2024 · Name: Current rate: Description and examples: Standard: 20%: The standard rate of VAT is the default rate - this is the rate that's charged on most goods and services in the UK unless they're specifically identified as being reduced or zero-rated.

Defined Contribution: Sometimes known as money purchase schemes, these are based on employers and employees agreeing on defined percentage contributions into a pension pot. The contributions are then put into investments by your pension provider. It’s the most commonly offered scheme. Defined Benefit: These are based on a member’s salary and the period of time that they’ve worked with ...

Being a sole trader means that you run your own business as an individual and are essentially self-employed. This is the most popular way of trading in the UK, with 4.24m sole proprietorships recorded as of July 2024.

Dec 12, 2024 · Edit; Bank Features Pricing; ANNA: Smart invoicing, automatically chase outstanding payments: Pay-as-you-go tariff means you just pay per transaction such as 20p per transaction moving money in or out: otherwise, its Business package is £14.90 per month + VAT