HMRC contacting sole traders
HMRC is currently contacting certain sole traders by email to reiterate the importance of adjusting business expenses for personal use.The email explains:why personal use must be adjusted on your self-assessment tax
Building value in your business
For many small business owners, the focus is on day-to-day operations. However, building long-term value is just as important, whether your aim is to sell in the future, attract investors, or secure better
Taxation of entertainment expenses
Many business gifts and hospitality costs are not tax-deductible under current rules.
Entertainment expenses including providing hospitality and business gifts are common, but the taxation of these expenses is strictly
How should multiple self-employed incomes be treated
Running more than one self-employed business? HMRC will not always treat them as separate. Whether they are taxed as one combined trade or multiple depends on how your activities relate to each other. It is not a matter
Registering informal money transfer businesses
HMRC has launched a campaign targeting informal money transfer networks like Hawala, aiming to combat money laundering and protect communities. Businesses must register for AML supervision or risk fines, prosecution, or
Why flexible planning is advisable
Flexible planning is essential for adapting to uncertainty, responding to challenges, and seizing new opportunities. The world is unpredictable, and rigid plans can quickly become outdated. Whether in business or