UK GUIDE
Sole trader tax guide
Sole traders normally report business profits through Self Assessment, with National Insurance and Making Tax Digital obligations depending on circumstances and qualifying income.
Sole trader tax guide
Sole traders normally report business profits through Self Assessment, with National Insurance and Making Tax Digital obligations depending on circumstances and qualifying income.
What to do
✓ Register when required✓ Keep digital/adequate business records✓ Separate turnover, allowable expenses and capital items✓ Prepare the Self Assessment computation✓ Check MTD for Income Tax timing
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