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Self-employed people can deduct allowable business expenses when calculating their taxable profits. However, where a cost has both a business and private element, only the business proportion can normally be claimed.
For example, if a mobile phone
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Self-employed people can choose to use simplified expenses to calculate certain business costs using flat rates rather than working out their actual expenses.
The system can save time and make record keeping easier, but it will not necessarily
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Employers must make sure their staff receive at least the National Minimum Wage or National Living Wage rate that applies to them. The correct rate depends on the worker’s age and, in some cases, whether they are an apprentice.
Since 1 April 2026,
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A company does not have to be formally closed to become dormant for Corporation Tax. A company is usually considered dormant if it has stopped trading and has no other income, such as investment income.
A new limited company that has not yet started
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