In recent years, selling goods online has become a popular way to earn extra income. Whether through platforms like eBay, Etsy, or Facebook Marketplace. And, because of this, lots of people now ask “How much can I sell online before paying tax in the UK?” The answer depends on a few factors, including how much […]
Category Archives: Tips
23
Jan
Jan
If you’ve been selling clothes or other items on Vinted, you might be wondering, “Do I need to tell HMRC about my Vinted income?” The answer depends on a few factors, including how much you’re earning and whether it’s considered a business activity. In this post, we’ll help you understand your tax obligations when using […]
16
Jan
Jan
We’ve had lots of enquiries recently with people asking us ‘Do I need to report my online income?’ And we’ve helped them with that so we thought we’d create this post to help you. In today’s digital age, many people in the UK are earning extra income from online platforms. Whether it’s selling products on […]
09
Jan
Jan
If you’re self-employed or earn income outside of PAYE, you’ve likely asked: “How do I pay my Self Assessment?” In this guide, we’ll walk you through the process step by step, ensuring you meet HMRC’s deadlines and avoid penalties. How do I pay my Self Assessment? Step 1: Complete Your Tax Return Before making a […]
30
Dec
Dec
When selling a property that has been your main residence, you may be subject to Capital Gains Tax (CGT) on any profit made from the sale. However, certain exemptions and reliefs are available to reduce or eliminate CGT liability. In this guide, we’ll explore the process of the disposal of a private residence in the […]
16
Dec
Dec
Undertaking a self-build project can be an exciting and rewarding endeavour, but it also comes with various financial considerations. One potential benefit for self-builders in the UK is the possibility of reclaiming VAT on certain building costs. In this guide, we’ll explore how to go about reclaiming VAT on self-builds, helping you maximise your financial […]
09
Dec
Dec
Running a payroll is a critical aspect of managing your business’s workforce effectively. It involves calculating employee wages, deducting taxes, and ensuring compliance with employment laws. In this guide, we’ll outline best practices for running a payroll efficiently, helping you streamline your operations and ensure accurate and timely payments to your employees. Running a Payroll: […]
02
Dec
Dec
Setting up a Payroll Setting up a payroll system is essential for any business with employees. Payroll involves more than just paying employees; it encompasses various tasks, including calculating wages, deducting taxes, and ensuring compliance with employment laws. In this guide, we’ll walk you through the process of setting up a payroll, helping you streamline […]
30
Sep
Sep
With the shift towards greener fuels we often get asked ‘Are Electric Cars a Company Expense?’ As a business owner you may be considering transitioning to electric vehicles due to environmental concerns and potential cost savings. However, the tax treatment of electric cars can be complex. Are Electric Cars a Company Expense? Electric cars can […]
09
Sep
Sep
When, like many of our clients, your business expands you may start thinking about taking on staff. It’s usually at this point we get asked “How do I register as an employer?” Registering as an employer is an important step for any business that plans to hire staff. It not only ensures compliance with HM […]
