Self employed trades, professions and contractors tax

Specialist accountants for Builders & Tradesmen As a self-employed builder or tradesman the following questions are just some of the questions your accountant should discuss with you: Are you claiming…

A self-employed individual who works from home has 2 choices for claiming a tax deduction for the associated costs: 1.  Claim a monthly fixed rate allowance of between £10 &…

Income shifting or splitting is a perfectly legitimate form of tax planning, provided you are careful not to overstep the mark and trigger tax anti-avoidance rules. Most commonly, the basic…

As you may be aware VAT registered business have had to register for Making Tax Digital (MTD) since 1.4.2019. However, as from April 2026, MTD will also apply more generally…

It’s not uncommon to see a VAT-registered contractor incorrectly charge a property owner 20% VAT when the reduced 5% VAT rate should be charged. If you are the contractor it…

If you are self employed or in partnership and you make a trading loss, you may be able to reduce your overall tax bill by offsetting that loss against the…

In most cases, contractors will need to add 20% VAT to the supply of their construction services, and that will add 20% to the costs of any customer who can’t…

If you are the owner manager of your own company and you have distributable profits Make sure: a) you and your family take advantage of the tax free dividend band.…

Whether you’re just starting out in business, or have been at it for a while, there are three main types of ‘trading vehicle’ to consider if you want to make…

The owner(s) of a an unincorporated business (eg, a sole trade or partnership) might decide to incorporate for various reasons. For example, - to secure the protection of limited liability,…