Records you must keep if self-employed
If you are self-employed as a sole trader or a partner in a business partnership, you are required to maintain suitable business records as well as separate personal income records
Tax treatment of income after cessation
After a business closes, income can still arise. Post-cessation receipts must be properly reported and taxed under specific rules. Knowing what qualifies — and what does not
How far back can HMRC assess under-declared taxes?
From income tax to VAT, HMRC has specific time limits for issuing tax assessments. Depending on the circumstances—whether it’s standard, careless, offshore, or deliberate
State Benefits – What is taxable and what is not
Not all state benefits are tax-free! Some, like the State Pension and Carer’s Allowance, are taxable, while others, like PIP and Universal Credit, are not. Knowing the difference
Treatment of post-cessation receipts and payments
When a trade ends, income doesn’t always stop. Post-cessation receipts can still arise, and knowing how they are taxed is crucial. Whether it’s Income Tax or Corporation Tax, the
