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Albert Einstein once said: “The hardest thing in the world to understand is income tax.” He wasn’t wrong. Many sole traders tell me their biggest worry isn’t finding customers — it’s working out their tax bill. The good news? Once you know the rules, it becomes far less scary. In this post, I’ll explain how sole trader taxes work, what allowances you can claim, and when payments are due. I’ll also share some client stories that highlight common pitfalls (and how to avoid them).

“More than 3.1 million people in the UK run their business as sole traders.” That’s over half of all small businesses. Why? Because it’s simple, flexible, and often the easiest way to start working for yourself. But simplicity doesn’t mean you can ignore the rules. If you’re thinking of becoming a sole trader, you’ll need to know exactly how to register, what deadlines apply, and how to stay compliant with HMRC. In this guide, I’ll take you step by step through the essentials — from registering with HMRC to switching to a limited company later down the line.

Thinking of closing your solvent company? This friendly, expert guide explains everything UK company directors, small business owners, and contractors need to know about Members’ Voluntary Liquidation (MVL) — including timelines, tax benefits like Business Asset Disposal Relief, and the step-by-step process.

Selling a business asset like property, shares, or intellectual property can lead to unexpected Corporation Tax bills if you’re not prepared. This comprehensive UK guide breaks down how gains are calculated, what deductions and reliefs may apply, and how timing can affect your tax position. We explain the difference between tangible and intangible assets, how exemptions like the Substantial Shareholding Exemption work, and why market value matters — even for gifted assets. Designed for small business owners and startup founders, this post offers practical examples and clear advice. Avoid costly surprises and make informed decisions when it’s time to sell.