Taxes you pay as a sole trader or partnership As a sole trader or partner, you will be taxed on the profits you make from your self-employment. In a partnership, you would be taxed on your share in the partnership profits. The good news is that the first £8,105 you earn (2012-13 rate shown) is [...]
Can I claim for my travel costs to save tax?
February 23, 2013 by Leave a Comment
You can claim 45p per mile (up to 10,000 miles and then 25p thereafter [2011-12 rates shown]) as an expense against your business for all business travel made in your own car, whether you are operating as a sole trader or a limited company. If you are a sole trader, you could claim capital allowances, and [...]
10 Tax Tips for Mumpreneur Sole Traders
February 23, 2013 by 1 Comment
When we start out in business, many of us choose to set up as sole traders. This is a flexible, easy way of starting out and can have many advantages. I have listed below the ways you can take full advantage of this business structure, and when you might want to consider a change. Claim [...]
Child benefit changes – and how to keep yours
February 22, 2013 by Leave a Comment
From 7th January 2013, child benefit is being reduced in households where there one person earns over £50,000. Those earning between £42,475 and £60,000 will be able to keep some or all of their child benefit depending on their earning levels. If the higher earner in the family earns up to £50k, then no child benefit [...]
5 Tax Tips for Mumpreneurs
February 21, 2013 by Leave a Comment
This blog is designed to alert you, the Mumpreneur, to some tax savings that will have implications for you and your family’s future. 1. Child Benefit and Tax Credits Make sure you know what changes are coming to the child benefit and tax credits system and what you may be able to do to prepare [...]
