UHY Ross Brooke Chartered Accountants
If you sell on eBay, Vinted, Etsy, Facebook Marketplace or similar platforms, you’ve probably asked yourself the same question at least once:“Do I actually need to declare this to HMRC?” The honest answer is: sometimes yes, sometimes no. A lot of people assume that if they are only selling online
With Making Tax Digital (MTD) for Income Tax coming into force from 6 April 2026, HM Revenue & Customs (HMRC) have been writing to taxpayers over recent weeks to tell them that they are being mandated into the regime. MTD became mandatory from 6 April 2026 for sole traders and
Many business owners are searching for answers about Making Tax Digital for sole traders. In April 2026, HMRC introduced new reporting rules for self employed individuals under MTD for Income Tax. If you run a business as a sole trader, you may need to change how you keep records and
One of the first questions people ask when preparing for Making Tax Digital is which accounting software they should use. HMRC requires taxpayers within MTD to keep digital records and submit updates using MTD compatible software. Selecting the right system can make the process much easier. What should MTD software
Heard of it yet? Mandatory e-invoicing is likely to become one of the more important practical changes for UK companies over the next few years. By Chris Davies For many business owners, the first surprise is that an e-invoice is not simply a PDF attached to an email. In the
If you have been running a business for a while, maybe as a sole trader or in a partnership, you may have heard someone say, “You should incorporate”. Sometimes that is well-meaning advice, but is it true that incorporation is the smart move for all business owners? Let’s look at
Find the latest tax rates for 2026/27 in our useful summary, including those relevant to: Self employed Landlords Investment or pension income Company director or shareholder Company taxation and income tax employment benefits and expenses NICs for employees NICs for employers National living and minimum wage NICs for the self
At one time, incorporating a business once profits reached a modest level was almost the default advice. Today, the conversation is more nuanced, and some existing company owners may even be asking themselves, “Do I still need a limited company?” The question may be prompted by rising tax bills caused
One of the most common questions about Making Tax Digital is what records HMRC requires you to keep. Under MTD for Income Tax, taxpayers must maintain digital records of income and expenses using compatible software. This applies to sole traders and landlords with gross combined income over £50,000, from April
Many people in employment or self-employment are interested in buying residential property, mainly as part of their long term wealth planning. In addition many consultants affected by the new off-payroll rules may be questioning whether they still need their company and what to do with the sum of money already