Tag: finance

This guide is part of our Tax for Tradesmen section, where we explain how tax works for self-employed tradespeople. Payments on Account explained simply: Introduction Many self-employed tradesmen are shocked when they receive their first large tax bill. In some cases the amount owed can feel almost double what they expected. This usually happens because…

This guide is part of our Tax for Tradesmen section, where we explain how tax works for self-employed tradespeople. The most common tax mistakes tradesmen make include: Introduction When you’re self-employed, managing tax becomes part of running your business. Unlike employees who have tax deducted automatically through PAYE, self-employed tradesmen are responsible for calculating and…

This guide is part of our Tax for Tradesmen section, where we explain how tax works for self-employed tradespeople. Introduction One of the biggest advantages of being self-employed is that you can deduct legitimate business expenses before paying tax. Many tradesmen pay more tax than necessary simply because they don’t realise what they’re allowed to…