Tax & HMRC

Can pay yourself a salary as a sole trader? Learn how drawings work, what HMRC expects, and how to manage tax and NI when you're self-employed.

How long sole traders, limited companies, employers and CIS businesses must keep tax records, plus the documents you should retain as per HMRC guidelines.

If you've applied for VAT registration but are still waiting for your VAT number, you may be unsure whether you should start charging VAT. In most cases, the answer is…

Can a sole trader have more than one VAT number? Why most sole traders can only have one VAT registration, even if they run multiple businesses.

If you've ceased trading, your turnover has fallen, or you've changed how you run your business, you may no longer need to be VAT registered.

A practical guide to VAT for sole traders in 2026 – when to register, how it works, VAT returns, reclaiming expenses, and how to stay compliant with HMRC.

A practical guide to capital allowances for sole traders, including what you can claim, current rates, and how the rules differ from limited companies.

Learn how to sign up for Making Tax Digital for Income Tax as a sole trader. Step-by-step guide, software tips, and what you need to register.

If the 'taxable supplies' of your business over the past 12 months have exceeded the current VAT registration threshold, you must register for VAT. The current registration threshold (as of…

Find out how National Insurance works for sole traders, including Class 2/4 rates, how to pay, and how it differs from employee and limited company rules.