Article by GoSimpleTax Would it surprise you to learn that less than 60% of UK small businesses use accounting software? By law businesses must keep accurate, complete records of their income and expenses/costs, so that they can reliably complete their tax returns. The remaining 40% of small businesses use spreadsheets, manual records or a combination […]

Article by GoSimpleTax You may not have paid any Capital Gains Tax so far. It’s not as common as Income Tax, National Insurance or VAT. And you may not be planning to pay Capital Gains Tax for some time yet, but one day that may change, so it pays to understand a few Capital Gains […]

Article by GoSimpleTax  The new UK tax year began on 6 April, as it has for more than 225 years. As well as being the date when UK tax rules can change, it can also be a great time for sole traders and landlords to make simple changes that leave them better organised, more in […]

By GoSimpleTax Personal tax allowances are tax-free amounts of income that you’re allowed to earn or receive. Several types of personal tax allowance are available and all of the main ones are available to UK sole traders. Claiming personal tax allowances can reduce your annual sole trader tax bill significantly, so it’s important to know […]