Starting a business as a sole trader

When starting a business, there are various decisions to make and tasks to perform. One of the first questions to address is whether to run the business as a sole trader, whether to set up a partnership with others or whether to form a company. The way in which a...

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Using salary sacrifice to beat the rise in employer’s NIC

One of the more unpopular Budget announcements was the rise in employer’s National Insurance from 13.8% to 15% from 6 April 2025. The Class 1A rate and Class 1B rate are similarly increased, meaning that it will hit employers on the provision of both cash pay and...

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Beat the SDLT deadline

There is a stamp duty land tax (SDLT) deadline on the horizon – from 1 April 2025, there are changes to both the residential SDLT threshold and that applying to first-time buyers. Completing a purchase before that date could save the buyer £2,500 in SDLT. For a...

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Deferring Class 1 National Insurance contributions

Where an employee has more than one job, they may be able to defer the payment of Class 1 National Insurance contributions in one or more of those jobs to ensure that the contributions that they pay for the year do not exceed the annual maximum. If earnings in one job...

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Planned changes to agricultural property relief

Protests by farmers following the October 2024 Budget have catapulted agricultural property relief (APR) into the spotlight. But what is the relief, who can benefit and how is it changing? Nature of APR APR and its companion relief, business property relief (BPR), are...

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Local Accountants – Extension of MTD

Under Making Tax Digital for Income Tax Self Assessment (MTD for ITSA), sole traders and unincorporated landlords within its scope will be required to keep digital records of their trading and/or property income and provide quarterly updates to HMRC using...

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