Sole Trader Business Tax Benefits

Sole Trader Business Tax Benefits

This helpsheet gives you an outline of what it means to work for yourself as a sole trader business. There are a number of benefits of being a sole trader business, but you must also comply with various regulations including the tax law. Form of Your Business When you...
Income Tax – a summary of the important essential aspects

Income Tax – a summary of the important essential aspects

This is a summary of the most important aspects of income tax (IT) and income tax rates. The tax year runs from 6th April to the following 5th April. It’s a historical thing dating back to 1752 when England changed from the Julian calendar to the Gregorian Calendar,...
Self assessment tax payment dates

Self assessment tax payment dates

There are two self assessment tax payment dates you need to pay your tax by. The method of payment usually involves two payments on account of your tax liability as follows… one on 31 January during the tax year and another on 31 July following the tax year....
Which Business Structure Should You Use?

Which Business Structure Should You Use?

This helpsheet explains which business structures you can trade through. Your business format is not set in stone forever and you can change between them. It is fairly simple for a sole trader to take on a partner and become a partnership and for a partnership to...