YF AccountingSole Trader vs Self-Employed: What’s the Difference?
If you are a sole trader, you are self-employed. The two are not alternatives you pick between. "Self-employed" describes your status with HMRC — you work for yourself…
How to Register for Self Assessment: A Step-by-Step Guide for 2026
You register for Self Assessment through the free HMRC service on GOV.UK, and if you started earning untaxed income during the 2025/26 tax year, you must tell HMRC…
Do I Need to File a Tax Return? A 2025/26 Guide for the UK
You need to file a Self Assessment tax return for the 2025/26 tax year if any of these applied to you between 6 April 2025 and 5 April…
Allowable Expenses for the Self-Employed: What You Can Claim in 2026/27
If you are self-employed, you can deduct any cost that is wholly and exclusively for your business before working out the tax you owe, which directly lowers your…
Selling Online and Side Hustles: When You Need to Tell HMRC in 2026
You only need to tell HMRC about your online selling if it counts as trading and your gross income tops £1,000 in a tax year. Selling off your…
Self Assessment Payments on Account: The 31 July 2026 Deadline
Your second Self Assessment payment on account for 2025/26 is due on 31 July 2026 — just over a week away. The amount is half of your 2024/25…
Making Tax Digital for Income Tax: What Sole Traders and Landlords Need to Know Right Now
Making Tax Digital for Income Tax is live. If your combined self-employment and property income was over £50,000 on your 2024/25 tax return, you have been legally required…
Key UK Tax Dates and Deadlines for 2026/27 — Your Complete Calendar
The UK tax deadlines most likely to catch you out in 2026/27 are: 31 July 2026 (second payment on account), 7 August 2026 (the first ever Making Tax…
How PAYE Tax Is Calculated in 2026/27 (Plus Bonus Calculator)
PAYE (Pay As You Earn) is the system your employer uses to deduct income tax and National Insurance from your pay before it reaches your bank account. In…
UK Personal Tax Rates 2026/27: Bands, Allowances and Examples
For 2026/27, the personal allowance is £12,570, income tax is charged at 20%, 40% and 45% as your income passes £12,570, £50,270 and £125,140, and employees pay National…