Running a business involves keeping on top of customers, suppliers, finances and tax. For many sole traders and landlords, tax reporting has traditionally meant keeping records throughout the year and submitting a Self Assessment tax return once a year. That is changing. Making Tax Digital (MTD) for Income Tax is being introduced by HMRC to move more businesses towards keeping digital records and reporting income and expenses electronically throughout the year. The first stage began on 6...

Whether you're a sole trader, limited company or partnership, understanding when to register for Value Added Tax (VAT) is an important part of running a business.

If you're a company director, you've probably transferred money between yourself and your business at some point. Maybe you've paid for company expenses using your own bank account, borrowed money from the business to cover personal costs, or lent the company money to help with cash flow. If so, you've likely used a Director's Loan Account (DLA), even if you didn't realise it. Director's Loan Accounts are a normal part of running a limited company, but they can become complicated if they're...