About

About Accounts Explained

Accounts Explained is an independent online publication about UK tax and accounts basics. We explain things like Self Assessment deadlines, registering as self-employed, Making Tax Digital for Income Tax and the VAT registration threshold. We don't give tax advice: we quote GOV.UK and HMRC guidance and link to it, so you can read the source for yourself.

What we cover

• Self Assessment: Who needs to send a tax return, the key deadlines, penalties and payments on account.
• Starting out: Registering as a sole trader, the £1,000 trading allowance and the records to keep.
• Making Tax Digital: Who has to use Making Tax Digital for Income Tax, from when, and what quarterly updates are.
• Expenses: What GOV.UK says counts as an allowable expense if you're self-employed.
• VAT: The registration threshold, when you have to register and how VAT works.
• Companies and accountants: Sole trader or limited company, Corporation Tax and dividend basics, and finding a qualified accountant.

How we work

AI helps us write our articles, and each one is checked before it goes live. We point to the source wherever there's a rule or a figure, so you can read it for yourself.

Sometimes we mention a business that works in the field we're writing about, because readers may find it useful. We keep those mentions factual, we don't make claims we can't back up, and a mention is never a recommendation of a firm or a product.

Corrections

If you spot something wrong or out of date, please let us know and we'll put it right.