Self-Employment
Tax obligations for sole traders and the self-employed including registration, expenses, and NIC.
Can I claim a deduction for bad debts as a sole trader?
Yes, as a sole trader you can claim a deduction for bad debts. Here is a full breakdown: --- What the law says The governing provision for sole traders is...
17 March 2026
Can a sole trader deduct pension contributions?
Can a Sole Trader Deduct Pension Contributions? The answer depends critically on whose pension the contribution is for. There are two distinct scenarios:...
17 March 2026
How does the high income child benefit charge work for self-employed people?
Here is a comprehensive answer on how the High Income Child Benefit Charge (HICBC) works, with particular relevance to self-employed people. --- What the...
17 March 2026
What are the tax differences between a sole trader and a limited company?
Based on the sources gathered, here is a comprehensive comparison of the key tax differences between a sole trader and a limited company. --- Tax...
17 March 2026
How does CIS work for self-employed individuals?
How CIS Works for Self-Employed Individuals What the law says The Construction Industry Scheme (CIS) is established under Finance Act 2004, Chapter 3. The...
17 March 2026
How does Making Tax Digital affect self-employed people?
Based on the sources gathered, here is a comprehensive answer on how Making Tax Digital (MTD) affects self-employed people: --- Making Tax Digital (MTD)...
11 March 2026
What are class 4 national insurance contributions?
Here is a comprehensive explanation of Class 4 National Insurance Contributions (NICs): --- What the law says Class 4 NICs are governed by section 15 of...
11 March 2026
What are class 2 national insurance contributions?
Here is a comprehensive answer on Class 2 National Insurance Contributions (NICs): --- What the law says Class 2 NICs are governed by section 11 of the...
11 March 2026
How do I deregister as self-employed with HMRC?
Deregistering as Self-Employed with HMRC What the law says You are legally required to notify HMRC when you cease to be a self-employed earner. Under the...
11 March 2026
What is sideways loss relief for self-employed people?
Here is a comprehensive explanation of sideways loss relief for self-employed people. --- Sideways Loss Relief for the Self-Employed What the law says...
11 March 2026
Can I claim capital allowances as a sole trader?
Yes, as a sole trader you can claim capital allowances. Here is a summary of the key rules: --- What the law says The general rule under CAA 2001 s.11 is...
11 March 2026
What records do I need to keep as a sole trader?
Records a Sole Trader Must Keep --- What the law says Under TMA 1970, s.12B(1), any person who may be required to make and deliver a Self Assessment...
11 March 2026
How do I work out my mileage allowance for self-employment?
I now have all the information needed to provide a comprehensive answer. Here it is: --- Mileage Allowance for Self-Employment What the law says...
11 March 2026
What is simplified expenses for self-employed people?
Simplified Expenses for Self-Employed People What the law says Simplified expenses are governed by Chapter 5A of the Income Tax (Trading and Other Income)...
11 March 2026
What is the trading allowance for self-employed people?
The Trading Allowance for Self-Employed People --- What the law says The trading allowance is set at £1,000 per tax year for individuals. This is defined...
11 March 2026
What expenses can I claim as a sole trader?
Expenses a Sole Trader Can Claim What the law says The core statutory rule is found in s.34 ITTOIA 2005. No deduction is allowed when calculating trade...
11 March 2026
How do I register as self-employed with HMRC?
How to Register as Self-Employed with HMRC HMRC Guidance / Practice Who needs to register and using which form When an individual becomes self-employed,...
11 March 2026