April 2026 will see the UK income tax system revolutionised with the introduction of a new quarterly filing system called Making Tax Digital for Income Tax. Way back in 2015 the idea of quarterly...
Ozzy
6th April marks the beginning of the 2025/26 tax year, bringing with it a host of responsibilities for business owners. Whether your business’ financial year is in line with these timings, or your...
Got a slick side hustle to top things up when funds are low? Perhaps your side gig is where you get to explore your true passions in life. Whether you’re an avid eBay seller, or an Airbnb...
graceks
For many small businesses, hitting the VAT threshold is a challenge. Whilst growing your business and increasing turnover are signs of success, some may find themselves worse off after they start...
Amalie Smith
Chancellor Jeremy Hunt has delivered his spring Budget to parliament. Find out what the announcement means for UK businesses. Hunt unveiled a series of measures to boost growth and make it easier...
Dan Hobson
A recent thread about low pay sparked a lively and insightful discussion among UKBF members. In this article, we share some of the highlights from the conversation. In the UK, almost 2.5 million...
Dan Hobson
Getting to grips with accounting for the first time can feel overwhelming. What does it all mean and how can you make sure you’re on top of the finances of your small business? Whether you’re...
Ozzy
For small business owners, January means one thing: the self-assessment deadline. If you’ve still got to finalise your tax return – or you’re not sure if it applies to you – follow our quick...
ChrisGoodfellow
If you’re setting up a business for the first time and are looking to buy and sell goods within the UK or overseas, chances are you’ll need to get clued up on all things VAT. In this guide...
Amalie Smith
So, you’re at the beginning of your startup journey. You have an idea, you’ve run it past your peers and you could have a viable business on your hands. Now you just have to put it into practice –...
Amalie Smith
Knowing when to start using an accountant as a small business is a popular topic on UKBF. Depending on the size and complexity of your business, it’s possible to manage your own finances...
ChrisGoodfellow
There were 3.2 million sole traders based in the UK in 2021, making sole traders the most common form of business in the private sector. When operating as a sole trader, there is no legal...
ChrisGoodfellow
All VAT-registered businesses, regardless of turnover, have less than one month to comply with the latest Making Tax Digital (MTD) rules – or face penalties from HMRC. Ahead of the final roll-out...
ChrisGoodfellow
For small businesses and sole traders, the 31st of January often looms large on the business calendar. You probably don’t need telling why – it’s the deadline for Self Assessment tax returns to be...
ChrisGoodfellow
