Budget 2026 halves Business Asset Disposal Relief limit to £500,000
The Budget cuts the Business Asset Disposal Relief lifetime limit to £500,000 from April 2027. What will it mean for business owners selling up?
Tax & HMRC
Understanding how tax works is essential when you’re self-employed.
This section explains how the UK tax system applies to sole traders, including Income Tax, National Insurance, Self Assessment and VAT.
You’ll also find guidance on registering with HMRC, claiming allowances, meeting tax deadlines and preparing for Making Tax Digital.
Whether you’re starting out or checking that your tax affairs are in order, these guides explain the rules in plain English.
Start with these guides
Self Assessment and tax returns
Tax mistakes and common problems
Registering with HMRC
National Insurance and allowances
VAT and business taxes
Trading allowance explained – £1,000 now, £3,000 from April 2027
How the UK trading allowance works, who can use it, when to register with HMRC, and what changes with the new £3,000 threshold from 2027.
Business rates and small business rate relief explained
Business rates are the non-domestic equivalent of council tax. How they are calculated, multipliers for 2025/26, and how small business rate relief works.
Sole trader tax: a guide for the self-employed
In this guide, we look at the taxes the self-employed pay. We also look at some common mistakes to avoid when it comes to dealing with HMRC.
Does a one-off large job count towards the VAT threshold?
A single large contract can push your taxable turnover over the VAT threshold. Here’s how the rules work, including the separate 30-day test.
What happens if you go over the VAT threshold by mistake?
If you accidentally go over the VAT threshold, you may need to register retrospectively and pay VAT from an earlier date. Here’s what to do next.
VAT for the self-employed – what you need to know
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.
What National Insurance do self-employed people pay in 2026/27?
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.
Why the VAT registration threshold is a problem for small businesses
The £90,000 VAT threshold often holds small businesses back. This guide explains why some avoid registering, and what the experts say.
How to check if a UK or EU VAT registration number is valid
If you have a new UK or EU customer or supplier, you should check the VAT registration number (VRN) they have supplied is valid. Here are three methods.