VIP Accounting Blog - Tax & Accounting Advice for Businesses & Individuals

A simple guide explaining how much tax sole traders pay in the UK, what taxes apply to profits, and when tax is due to HMRC.

A simple guide explaining what PAYE is, how it works, who it applies to, and how tax and National Insurance are deducted from your wages in the UK

A simple guide explaining what income is taxable in the UK, including employment income, self-employed earnings, rental income, and other income HMRC expects you to declare.

A simple guide explaining whether side hustle income is taxable, how the £1,000 trading allowance works, and when you need to register and pay tax in the UK.

Calendar and calculator representing UK tax payment deadlines

A simple guide explaining what self-employed tax is, what taxes you pay when working for yourself, and how Self Assessment works in the UK.

A simple guide explaining how much you can earn before paying tax in the UK, how the tax-free allowance works, and when Income Tax starts to apply.

Unsure how much tax you pay in the UK? This guide explains how income tax works, how much you can earn before paying tax, what affects your tax bill, and when tax is paid.

A simple guide explaining what a P45 is, when you receive one, what information it contains, and why it’s important for your tax record when leaving a job.

A simple guide explaining what a P60 is, who receives one, what information it shows, and why it’s important for tax checks, Self Assessment, and proving income in the UK.

A simple guide explaining what National Insurance is, who pays it, how it works for employees and the self-employed, and how it affects your take-home pay and benefits.

Unsure whether you need to register as self-employed? This guide explains when registration is required, the £1,000 trading allowance, and what to do if you earn income outside PAYE.

A simple guide explaining what a UK tax code is, what the letters and numbers mean, and how it affects how much tax is taken from your pay or pension.

A simple guide explaining what a UTR number is, who needs one, how to get it from HMRC, and why it’s required for Self Assessment and tax returns.

VAT can be confusing for small business owners. This guide explains how VAT works, when you need to register, how much to charge, and what you must submit to HMRC to stay compliant.

A simple guide to the UK personal tax allowance for 2024/25, including how much you can earn tax-free, when it reduces, and how it affects your tax bill.

Knowing which expenses you can claim as a sole trader helps reduce your tax bill and stay compliant with HMRC. This guide breaks down the most common allowable expenses, what you can’t claim, and how to keep proper records so you don’t overpay tax or risk penalties.

A clear guide to whether you need to file a Self Assessment tax return in the UK, including common situations, key rules, and what to do if you're unsure.

Did you know that even the interest on your savings could push you into paying more tax? With interest rates still relatively high, more people than ever are exceeding their Personal Savings Allowance (PSA)  and being taxed on their savings income. As experienced accountants in Essex , here’s everything you need to know about tax on savings interest in 2025 , how the PSA works, and what to do if you owe tax. ✅ What Is the Personal Savings Allowance in 2025? The Personal Savin

The Self Assessment tax return deadline  is one of the most important dates in the UK tax calendar. Miss it, and you could face HMRC late...