Jargon Buster

Not every employer perk is taxable. Here's the full list of BIK exemptions — trivial benefits, workplace parking, mobile phones, cycles, and more.

If you don't file Self Assessment, HMRC collects benefit in kind tax by adjusting your tax code. Here's how coding out works and how to check your code.

CGT on selling a sole trader business: how goodwill, assets, and stock are taxed, Business Asset Disposal Relief at 18%, Rollover Relief, and how to report it.

Stale benefit in kind estimates sit in your PAYE tax code and take a chunk out of every payslip. Here's how to read your code, spot wrong numbers, and fix it.

CIS deducts 20% from construction invoices before you're paid. Here's how registration, gross status, and reclaiming deductions work, plus the MTD changes.

Cloud accounting keeps digital records, automates bank feeds, and handles MTD. Here's what it is, how it compares to spreadsheets, and whether you need it.

Company car BIK is calculated from list price and CO2 emissions. Here are the 2025/26 BIK rates, the fuel benefit charge, and electric car savings.

The FHL tax regime ended on 6 April 2025. Former FHL owners now face Section 24, no capital allowances, no BADR, and no pension relief. Here's what to do.

Gift Aid lets charities claim 25p per £1 you donate. Higher-rate self-employed taxpayers can claim back more through Self Assessment. Here's how it works.

Deliveroo and Uber riders are self-employed for tax. Here's when to file a Self Assessment, what you can claim, and how HMRC's platform reporting works.

The HICBC claws back Child Benefit if you earn over £60k. From October 2025 you can pay via PAYE without filing a Self Assessment return. Here's how it works.

Sole traders don't take a salary — you take drawings from profits. How it works, how much tax you pay, and why leaving money in the business doesn't defer tax.

IR35 doesn't apply to sole traders, but employment status does. If HMRC decides you're a disguised employee, your client pays the bill. Here's how to stay safe.

Making Tax Digital for sole traders and landlords: who it affects, when it starts, what to do, software, costs, and deadlines — with links to detailed guides.

Sole traders can claim Marriage Allowance through Self Assessment. How eligibility works on net profit, backdating to £1,260, and the Scottish band difference.

MTD rules are the same for everyone, but record-keeping, expenses and software differ by trade. Guides for tradespeople, online sellers and Airbnb hosts.

Not everyone has to join MTD for Income Tax. Here are the automatic and application-based exemptions for sole traders, landlords and other taxpayers.

MTD for Airbnb hosts: does it apply to your property income, what counts as qualifying income, and how software handles quarterly updates for short-term lets.

Making Tax Digital for income tax starts April 2026. Here's what changes, who's affected, and what you need to do — in plain English.

MTD rules for landlords and non-residents: UK property income counts, foreign doesn't. Joint ownership, letting agents, and ceasing income covered.

MTD for online sellers: what counts as gross income when platforms deduct fees, how to import platform reports, which expenses matter, and which software fits.

MTD for tradespeople: what counts as qualifying income with CIS, how to capture receipts on site, which expenses matter, and which software fits the trades.

Do you need separate quarterly updates for each trade? The answer depends on what counts as a separate trade, and it's fewer than you think.

MTD qualifying income explained: what counts (SE + property), what doesn't, and the £50k/£30k/£20k thresholds — with a calculator to check your status.

Making Tax Digital vs Self Assessment: what's changing, what stays the same, and how the new quarterly system compares to the annual tax return.

Private medical insurance is a taxable benefit in kind. Here's how the P11D cash equivalent works, how much tax you'll pay, and how to calculate it.

Payment on Account is HMRC's system for advance tax payments — two instalments on 31 January and 31 July. Here's how it works and how to reduce it.

Personal pension contributions get tax relief at your highest rate and cut adjusted net income. Here's how to claim, the annual allowance and carry forward

The Personal Allowance is frozen at £12,570 until 2031. Earn over £100,000 and it disappears at 60%. Here's how fiscal drag works and how to protect yourself.

UK landlord tax: how rental income is taxed, Section 24 mortgage relief, the Non-Resident Landlord Scheme, capital gains, and deductible expenses.

An S prefix on your tax code means HMRC thinks you're a Scottish taxpayer. If you live in England, a stale address is usually the cause. Here's how to fix it.

How to choose your self-employed structure: sole trader vs limited company vs umbrella vs CIS. Tax efficiency, IR35, and how to transition.

Your employment status decides your National Insurance, your expenses, and which tax return you file. Here's how HMRC decides — and what it means for your tax.

How to switch from sole trader to limited company in 2026/27 — formation, transferring assets, incorporation relief, closing the old business, and tax traps.

Your tax code tells your employer how much tax to deduct. Here's how to read it, spot errors, fix emergency codes, challenge your P2 notice, and claim refunds.

The £1,000 trading allowance and actual expenses are mutually exclusive. Here's how to decide which saves you more tax, with worked examples and the rules.

The UK tax year runs 6 April to 5 April. Here are the key dates, deadlines, allowances, and what changed on 6 April 2026 for sole traders and landlords.

Umbrella payslips deduct employer's NI and Apprenticeship Levy before tax. Here's why it happens, what the assignment rate is, and how to check your pay.

Flat Rate Scheme vs standard VAT: how each works, the 16.5% limited cost trader trap, sector rates, and a worked example to help you choose.

Sole traders must register for VAT at £90,000 turnover. Here's the threshold, voluntary registration, the Flat Rate Scheme, how to register, and MTD for VAT.

P800 tax calculation letters are sent between June and March, but not everyone gets one every year. Here's how to check if you're owed a refund without waiting.