Trading Income

06 December 2024

Online platforms to start sharing some user sales and personal data with HMRC from January 2025
HMRC’s changes affecting online platforms. HMRC has issued a press release reminding people there are no changes to tax rules for people selling their unwanted possessions online

15 November 2024

Changes to the National Insurance contributions (NICs) and the Employment Allowance from 6 April 2025
The decrease in the the NICs Secondary Threshold, consequences for the incorporation decision of the increase in employer NICs

07 November 2024

Sole trade/partnership versus limited company - Autumn Budget 2024 consequences of the increase in employer NICs
The consequences for the incorporation decision of the increase in employer NICs

06 November 2024

Autumn Budget 2024: proposed legislative change regarding capital gains on winding up a Limited Liability Partnership
Proposed changes to capital gains on winding-up a Limited Liability Partnership (LLP)

18 October 2024

MTD - new HMRC interactive checker tool
MTD for Income Tax Self-Assessment (MTD ITSA), which becomes mandatory for the first taxpayers from April 2026. The new tool is intended to make it simpler for taxpayers (and their agents) to understand if they are in scope of MTD ITSA and, if so, when they need to start complying with the requirements

26 September 2024

Basis period reform for the self-employed - a case study
How basis period reform affects unincorporated taxpayers, i.e self-employed sole traders and those trading in a partnership, and a pensions planning opportunity

26 September 2024

Basis period reform - more HMRC guidance
How basis period reform affects unincorporated taxpayers, i.e self-employed sole traders and those trading in a partnership

24 September 2024

Business protection for sole traders
Business protection for sole traders. How not to miss a great market and client focussed opportunity

11 September 2024

Retirement savings and the self-employed
The Institute for Fiscal Studies new paper examining retirement savings and the self-employed

15 August 2024

Basis period reform - new HMRC guidance
How basis period reform affects unincorporated taxpayers, i.e self-employed sole traders and those trading in a partnership

22 July 2024

The cash basis of accounting - a reminder
How the new cash basis of accounting applies. HMRC has published a reminder