Do I need to complete a Company Tax Return?

So, you’ve quit your job and decided to move into a different avenue: working for yourself. Registering as a sole trader is typically the preferred option for people looking to set up their own businesses. But there are lots of responsibilities that come with the freedom…

Deciding to break off from the traditional career ladder and start your own business can be daunting. You’re motivated by the opportunity to manage your finances and the freedom of choosing your working hours – but there’s a lot to learn along the way. The first…

Shocking research conducted by Accounting Firm Mazuma shows that 83% of Plumbers are not ready for the changes to tax filing that will become mandatory from April 2026. Making Tax Digital (MTD) is the biggest overhaul of the tax filing regime in generations. From 2026 any business, sole trader,…

The easiest way to open a business is to start off as a self-employed sole trader. As a sole trader, either on your own account or in partnership, you run your own business as a self-employed entity. A sole trader needs to ensure they are registered with HMRC and…

There’s no doubt about it, both Mazuma and Xero are market leaders when it comes to what they do. Since their launch in 2006, Xero has set the benchmark for cloud accounting software. And since Mazuma launched in 2006, they have paved the way for Accountancy subscriptions for…

Ltd Companies and Director’s Loan Accounts When you operate your small business through a Ltd Company, you’ll need to get used to lots of new vocabulary around Accountancy. One of the most frequently misunderstood terms (and areas of Accountancy) for a small Ltd Company is the Director’s Loan Account. But…

The co-founder of the UK’s leading online accountancy firm for small and micro businesses is celebrating a win at a prestigious accountancy award ceremony. Mazuma co-founder Lucy Cohen was named Woman of the Year – Technician at the first ever Women in Accountancy and Finance Awards in London. The event,…

The UK’s leading online accountancy firm for small and micro businesses has been chosen to join forces with the FreshBooks, the number 2 small business invoicing and accounting software in America, with paying customers in 100+ countries. Mazuma has a proven track record of being tech-focused and working…

If you’re a freelancer, sole trader or self employed in any other way, you were probably working from home way before COVID-19 was on the scene, right? You might even say that you were the pioneers of flexible working before everyone was doing it! Nowadays, the amount of people working from…

The sense of independence and freedom you’ll feel as a sole trader is amazing, but there are important administrative tasks to follow before your adventure begins. As a sole trader, you’ll classify as self-employed and have your own set of tax rules and regulations to follow – but don’t worry! We’re…

“’Tis impossible to be sure of anything but Death and Taxes.” Quote from The Cobbler of Preston by Christopher Bullock, 1716   Starting your own business is both exciting and daunting. Although it’s hard to know what the future may hold, you can be sure of one thing – you’ll have to…

By Lucy Cohen, Co-Founder of Mazuma Beware the FinTech Wolf in Collaborator’s Clothing In late November, my attention was drawn to a petition that had launched online. Briefly, it seems that in the USA, Quickbooks had been directly targeting the clients of bookkeepers who had previously partnered…

Starting your own business as a self-employed individual can be an exciting and empowering experience. However, it comes with its own set of challenges, one of which is managing your finances. Proper accounting is essential to ensure that your business runs smoothly, remains compliant with tax regulations, and remains…

A sole trader business, also known as a sole proprietorship, is the simplest and most common form of business structure. It is owned and operated by one individual who is entirely responsible for its operation, profits, and liabilities. This business model is popular due to its straightforward setup…

Welcome to our comprehensive guide on invoicing if you are a sole trader! This is your one-stop-shop for understanding the ins and outs of creating, managing, and dealing with invoices. That’s right, we’ll show you how to invoice as a sole trader. …

Whether you’re a sole trader or part of a limited company, understanding your tax obligations is crucial. So you might be wondering, do sole traders pay corporation tax?  In this comprehensive guide, we’ll also explore the benefits and drawbacks of being…

IR35, or off-payroll working, is a tax legislation introduced by HMRC (Her Majesty’s Revenue and Customs) to address the issue of “disguised employment.” This legislation applies to contractors working through an intermediary, often a limited company, and ensures that they are taxed similarly to employees if they are working…