It's the question every sole trader asks, usually in the second half of January. When you're employed, tax disappears before your pay arrives. When you're self-employed, every penny lands in your account - and some of it was never yours to spend. The short answer is 25-30% of your profit if you're a basic-rate taxpayer, and more once you earn above £50,270. But the reason that figure looks high, and why it's still right, is the part worth understanding. This guide explains bo

Being a landlord comes with a tax bill that has grown steadily more complex over the last decade - mortgage interest relief has been cut back, allowances have shrunk, and from 2027 rental income will be taxed at its own higher rates. This guide pulls the whole picture together in plain English: what you're taxed on, what you can claim, what changes are coming, and where the common traps are. It's the hub of our landlord series of simple explainers, so think of it as your star

Owning a rental property with someone else - a spouse, a sibling, a business partner or a friend - changes how the income is taxed, and the rules aren't always what people expect. The most common assumption we hear is that a couple can simply put all the rental income in the name of whoever pays less tax. Unfortunately, HMRC doesn't work that way. This guide explains how jointly owned rental income is actually taxed, the special rule that applies to married couples and civil

Self-Assessment runs on a handful of fixed dates - and HMRC's penalties for missing them are automatic, steep, and land even if you don't owe a penny. This guide sets out every deadline that matters, exactly what late filing and late payment cost you, and - if you've already slipped past a date - how to limit the damage. It's part of our series of simple explainers and sits alongside our Essential Guide to Self-Assessment for the Self-Employed, which covers who actually needs

For many UK landlords, owning rental properties personally used to be the obvious choice. But tax changes introduced over the last few years - especially around mortgage interest relief - have led more landlords to consider purchasing or holding buy-to-let properties through a limited company instead. While a limited company structure is not right for everyone, it can offer significant advantages in the right circumstances. Here are some of the key benefits landlords should u

If you’re self-employed, a landlord, or earning income outside of PAYE, then filing your annual Self Assessment Tax Return is part of the deal. But here’s the reality: most people leave it until the last minute. At ASBA Accounting, we see the same pattern every year - January panic, rushed submissions, and unnecessary stress. The truth is, completing your Tax Return early isn’t just about being organised… it can actually save you time, money, and headaches. Let’s break down w

The Chancellor delivered the Autumn Budget today against a backdrop of stubborn inflation, rising borrowing costs, and pressure on public finances. While the headlines focus on raising revenue, the real question for our clients is simple: how will these changes affect your take-home pay, your business, and your future tax planning?

July can often bring confusion and surprise for UK taxpayers dealing with payments on account. Following on from our recent blog post on Making Tax Digital for Income Tax Self-Assessment and what that will mean for you as a Self Assessment tax payer, this next guide in our series we'll clearly explain what payments on account are, who needs to make these payments, how they're calculated, and provide straightforward worked examples to make it simple to understand. Read on to f