Making Extra Money? Self Assessment Expenses and Side-Income Rules for Sole Traders
A weekend freelance project, online side business or extra job can increase your income, but it can also make your tax position less straightforward. Two questions usually follow: Do I need to tell HMRC about this extra income? And if I am self-employed, which business expenses can I claim? For sole traders, qualifying business costs […]
Do You Need to Register for Self Assessment? A Clear UK Guide for First Time Filers
Starting a business, earning money from a side activity or receiving income outside your salary can create a question that many new taxpayers ask: Do I need to register for Self Assessment? The answer depends on the type of income you received, how much you earned and whether HM Revenue and Customs can collect the […]
