Knowledge

An award-winning selection of great tools, business guides, and articles to help you make your business a success.

Category: 

Tax

Tax

Corporation Tax is the tax levied on the profits of limited companies. But what are the benefits of paying this tax early?

Limited Company Director's Responsibilities - what you need to file and when with HMRC and Companies House : Crunch - image of HMRC sign on a wall

Tax

What are your responsibilities as a limited company director? We explain what you need to file with Companies House & HMRC so you can keep on top of things.

Crunch

Tax

Thinking about contracting in Europe or further afield? Learn all about your tax liabilities and how to maximise your take home pay working abroad.

VAT registration and reporting explained, image of a man working out tax on a calculator | Crunch

Tax

Although the ins & outs may be tricky to grasp for first-timers, the sooner you get your head around the HMRC VAT system the sooner you can benefit from it.

One week flash sale ends soon!

Get 50% off your first two months on any of our paid accountancy packages. Offer ends Friday 30th July, so act quickly!

Get started

Online accounting 

Check out our accounting packages for sole traders and limited companies, along with our amazing free bookkeeping software.

Join our free community for the self-employed 

Stay up-to-date with the latest news affecting small businesses, and network with like-minded self-employed people.

Business guides 

From understanding expenses to starting a limited company, we’ve a range of jargon-free business guides for you to download and keep.

Free tools and resources 

Work out your take-home pay, chase that unpaid invoice and calculate your IR35. Make running your business a breeze!

New tax year new you - Crunch - image of fireworks
Tax

Want to make this tax year the most profitable yet? Our top financial resolutions and guidance will set you on the course to success.

Capital Allowances, Annual Investment Allowance, and the Super-Deduction
Tax

Businesses can buy items of “plant and machinery” and offset some of that expenditure against their profits. Ltd companies can also claim a super-deduction.

Personal and business tax changes for new tax year, image of paper money | Crunch
Tax

A round up of the tax changes that may affect small businesses and business owners for the new tax year that starts on 6th April 2021.

Woman reading letter while she drinks coffee
Tax

Failure to file a Confirmation Statement is a criminal offence, which can result in directors being fined personally in criminal courts. Here's what to do.

Get ready for end of tax year (5th April 2021) & new tax year, image of a calculator | Crunch
Tax

We’re fast approaching the end of the tax year on 5th April 2019. Let's take a look at what you’ll need to know.

Who determines your IR35 status and who pays employment taxes, image of a women writing at a desk | Crunch
Tax

Following changes introduced by HMRC in 2021, responsibility for determining your IR35 status is mostly, the same for both the private & public sectors.

The Crunch Personal Tax Estimator, image of a pencil and calculator | Crunch
Tax

Crunch's Personal Tax Estimator will help you work out the tax you may have to pay on your personal income, including sole trade income, salary & dividends.

HMRC
Tax

Everyone knows it’s legal to evade tax but completely illegal to avoid it, right? Wrong. Confused? You’re not the only one, we'll clear up the confusion.

Can IR35 contractors still work through a limited company?, image of someone reading papers | Crunch
Tax

The government’s reform of IR35 rules is forcing many contractors operating personal service companies to review their options.

Crunch's simple guide to the 2020 Budget, image of Parliament | Crunch
Tax

The government has delivered its budget for March 2020, outlining changes to IR35, tax rates, and amendments to Statutory Sick Pay.

Westminster
Tax

Crunch has written a letter to the government including our detailed response to the 34 questions included in the consultation about off-payroll working in the private sector.

Two people playing football
Tax

It's generally accepted that football players - top flight players in particular - are stupendously overpaid. What if we paid them an average UK wage?

File you Self Assessment early - Crunch - image of hands and a calculator
Tax

Filing early will mean you avoid the mid-January dread felt by many freelancers & contractors, and enjoy a well-earned worry-free rest over the holidays.

Am I a UK Tax Resident - Crunch - image of a man on a plane
Tax

Getting your UK tax status wrong could mean that your worldwide income is subject to UK tax. Find out how to get it right with this jargon-free article.

Tax rates, thresholds, and allowances, image of a pound coin | Crunch
Tax

There are many different tax rates in the UK affecting both individuals and businesses - we've pulled them all together so you can keep on top of them.

British pound coins
Tax

What's the most tax-efficient salary to take as a company director? Here are the benefits of taking a high or a low salary, without the jargon.

Chrunch's guide to the March 2021 Budget for small business owners and the self-employed
Tax

Here is Crunch's small business friendly highlights from the the Chancellors March 2021 Budget  affecting small business owners and the self-employed.

Freelancing on the side, image of a woman doing taxes | Crunch
Tax

Here's how to make sure you're paying the right amount of tax when deciding to freelance on the side, and how to stay in HMRC's good books!|Here's how to make sure you're paying the right amount of tax when deciding to freelance on the side, and how to stay in HMRC's good books!

Taxation of company cars and vans - how much will you pay?, image of company car park | Crunch
Tax

Some businesses include a company car as part of the overall remuneration package for their employees. However, HMRC considers the private use of a company car to be a Benefit in Kind and is, therefore, taxed as part of the employee’s overall income from employment.

Managing your accounts and tax as a self-employed dentist, hygienist, or dental therapist - Crunch - image of a dentist
Tax

We’ve put together this comprehensive, jargon-free guide to help you understand how best to set up as self-employed, and how to act tax-efficiently.

Crunch Free - Simple Online Bookkeeping
Tax

Freelancer, contractor, or small business owner looking to reduce outgoings and increase productivity? There’s a new solution - Crunch Free!

How to reduce your Corporation Tax
Tax

Lowering your Corporation Tax just takes diligence, a bit of knowledge of the tax system, and a few minutes every month making sure everything is recorded.

What is Self Assessment? How to complete your Self Assessment, image of someone typing their Self Assessment | Crunch
Tax

New to contracting or freelancing? Struggling with filing your first Self Assessment? Our quick guide goes over the basics of what you should do.

Small Business Taxes - Crunch - image of business workers
Tax

A quick explanation of each of the small business taxes you’re expected to pay as a freelancer, contractor, or small business owner.

Tax

Is your accountant better at invoicing you than looking after your accounts? Here are the top five signs you need a new accountant.

Crunch - Image of someone struggling with bookkeeping - The value of bookkeeping software for small businesses
Tax

Bookkeeping software may not be able to make bookkeeping fun, but it can definitely make it much easier. Here's a few ways how.

HMRC logo in Westminster
Tax

Your P60 is a summary of your pay and all deductions in a specific tax year (6th April to 5th April the following year). Here's what it includes.

Working from home? What you can and can’t claim as an expense, image of a dog getting comfy with its owner at home | Crunch
Tax

If you spend time working from home, then depending on the work you do, you might be able to claim expenses back for using your home as an office.

Benefits of an online accountant - Crunch
Tax

Why use online accounting software when you can download an Excel spreadsheet for free? Well, the reasons are numerous.

Personal Service Company - Woman using laptop - Crunch
Tax

Usually refers to a limited company, set up to provide the services of a contractor. Find out how you can set one up, and why you might want to.

Tax

What is an Employment Related Securities Return, image of friends sharing pizza | Crunch
Tax

Giving or awarding shares through an Employment Related Securities scheme can be a good way for employers to reward employees. Here's what you need to know.

What are the tax implications of closing your limited company?, image of pensioners on a laptop | Crunch
Tax

Thinking about closing your limited company? This article will explain the two main options - informal strike of or members' voluntary liquidation.

Crunch: Making Tax Digital - how will affect me - image of man writing on stack of paper
Tax

Making Tax Digital (MTD) is the government’s plan to shift tax online. The initial changes will only really affect you if your business is VAT registered.

How does being a higher rate taxpayer affect Buy-to-let landlords?, image of a contract signing | Crunch
Tax

Rules on tax relief available for Buy-to-let properties changed in 2017 and are being phased in over four years, meaning increased tax bills for some.

A stack of receipts
Tax

For small businesses, keeping the tax inspector happy is high on the list of priorities. We look at five ways to keep compliant and things running smoothly.

Tax

So, you're a small business owner who is VAT registered. Therefore, you have to add VAT onto your invoices or the goods you sell.

Tax

Employees and Workers can complain to an Employment Tribunal if they are dismissed or victimised at work in any way for making such a disclosure.

Tax-Free Childcare for the self-employed, image of kids at school | Crunch
Tax

What is the Tax-Free Childcare scheme? How does it work, and how do you apply for it? Read on for everything you need to know about the new scheme.

Working Tax Credits - how they can help a limited company - Crunch. Image of man on a calculator
Tax

Tax credits are an incentive for people to remain in low-waged employment instead of seeking similar benefits in unemployment.

Dividends - What Are They and What Taxes Do I Pay on Them? Image of someone working on a tablet | Crunch
Tax

Dividends are payments made to company shareholders from company profits after corporation tax. If you run a ltd company they can be really tax-efficient.

Business mileage rates – who can claim and how much does HMRC allow? Image of a driver on a dark night | Crunch
Tax

When you’re self-employed, or director of your own limited company, it can be confusing to know how to claim back business mileage. We've got you covered.

Tax

How to stay on top of the deadlines for your tax filings as a freelancer, contractor or small business in the UK.

Woman hiring a room
Tax

If you’re planning to rent out a room in your home, you’ll need to know how the tax system works, and how it affects you. Here's a jargon-free lowdown.

How to operate CIS as a limited company or a sole trader - Crunch - image of a bricklayer at work
Tax

Contractors registered under the Construction Industry Scheme (CIS) are required to deduct tax from their payments to subcontractors. We explain how CIS works.

Crunch
Tax

This article will cover exactly what a director’s loan is, the HMRC rules, and your tax obligations. So you'll avoid any problems or unexpected tax bills.

What is a P11d - Crunch. Image of a woman on a laptop
Tax

Confused by P11D forms? Unsure whether you need to file one? Want to avoid the common mistakes? Read our articles and you'll be an expert in no time.

Woman typing at laptop
Tax

Disaggregation is when business owners try to avoid charging VAT by splitting a business to ensure each operates under the VAT registration threshold.

What is VAT reverse charge in the construction sector?, image of construction workers discussing plans | Crunch
Tax

If you’re in the Construction Industry Scheme (CIS) and VAT registered, HMRC are changing how you account for VAT from 1st October 2019.

Tax

If you pay for something for your business with your own money don't forget to claim it back as a business expense, we show you how.

Can I make pension contributions through my limited company?
Tax

Payment on account is not something that is widely known about among people who have never been part of the Self Assessment system. Learn more now!

A row of colourful houses in London
Tax

In 2017, the government introduced two new annual tax allowances: one for trading income (sole trade), and one for income from a property business.

People working in a modern office
Tax

What is National Insurance and do the self-employed have to pay it? This article explains it all as simply as possible.

Scottish Income Tax Rates, image of Scottish money | Crunch
Tax

We explain the tax rates that apply for the 2020/21 tax year, affecting income taxpayers resident in Scotland and how to see if you're affected.

What is Child Benefit - Crunch. Image of a happy child with a skateboard.
Tax

Child Benefit is a benefit payable to someone responsible for a child under the age of 16, or 20 if they’re in full time education. There are a few things to be aware of which we’ll take a look at in this article.

2018 Budget Highlights - How will it affect the self-employed and small businesses? Image of a calculator - Crunch
Tax

Chancellor Philip Hammond delivered his Budget on 29th October 2018. Here are the main takeaways for freelancers, contractors, and small business owners.

Self Assessment: What happens if I miss the deadline?, image of coins on a table | Crunch
Tax

If you don’t file your Self Assessment and pay any tax due by 31st January deadline you’ll face fines – and potential extra penalties. Here's all the info.

What is VAT MOSS and does it affect me?
Tax

The VAT Mini One Stop Shop (VAT MOSS) scheme is a way of paying VAT if your UK business provides certain digital services to customers in the EU.

Do I have to complete a Self Assessment tax return?, image of a woman reviewing notes with a dog | Crunch
Tax

A Self Assessment tax return is one of the most significant tax documents you’ll be dealing with when you’re self-employed. Here's what you need to know.

Make your next Self Assessment painless - Crunch - image of a lady and a cat
Tax

Self-employed and struggling to deal with Self Assessment? Start the tax year positively and make next year’s Self Assessment as painless as possible - get some expert advice from our client managers.

HMRC
Tax

HMRC's systems can be a little tricky to navigate, and you might not always know which department you're looking for. Thankfully, we've compiled a handy guide to point you in the right direction.

Crunch
Tax

As anyone is able to see the director service address on the public record, many people prefer to provide an alternative to their home address.

Friends raising a glass over dinner
Tax

Receiving a gift from your employer is a great feeling, but in the workplace the employer needs to be aware of whether or not they need to pay tax on the present. Here are some helpful examples for small businesses.

Woman working on a laptop behind her table
Tax

Since June 2016, UK companies have been required to maintain a PSC register of decision-makers. We explain what you need to do to stay compliant.

What is Entrepreneurs’ Relief when selling shares in your business?, image of a woman using a calculator to work out tax | Crunch
Tax

Thinking about selling your limited business? You'll need to know about entrepreneurs' relief.

Jammy dodger
Tax

Welcome to the tax rogues Hall of Shame! featuring Alan Partridge, Vince Cable, Kerry Katona, Bernard Black and Wesley Snipes.

Helpful alternatives to cutting Corporation Tax, image of a calculator | Crunch
Tax

Corporation Tax cuts mainly benefit larger corporations and do little for start-ups that are usually loss-making in the first few years, say the RSA.

Can I claim lunch expenses?
Tax

Claiming back money spent is one of the biggest perks of being self-employed - but you can't just claim everything. What's the deal with lunch expenses?

Leasing through your limited company
Tax

What is leasing? And how do you go about leasing through your limited company? We explore your options and the pro's and con's.

Volunteers
Tax

We all agree that donating to a charity is good for everyone but did you know that there are tax-efficient benefits to donating? We take a look.

Tax

If you work through a personal service company, then you need to understand how Supervision, Direction, or Control affects travel and subsistence expenses.

Cycle to work scheme
Tax

The UK is holding out for a hero, and there’s an unlikely one riding over the horizon ready to whip us all into shape - the humble bicycle.

Pensioner using a laptop
Tax

Capital Gains Tax comes into play when you make a profit from selling something you own. The important point to remember is that the tax is calculated on the profit you make, and not the amount you sold it for. As the name suggests, it’s all about the gain! Here's a quick breakdown of what you need to know.

What is a Members’ Voluntary Liquidation (MVL)?, image of a closed sign | Crunch
Tax

If the time has come to close your business, there's a tax efficient method called a Members’ Voluntary Liquidation - or an MVL for short.

Crunch
Tax

Find out what's actually on a Limited Company Statement of Financial Position (formerly referred to as a Balance Sheet), and why you might need one.

Company year end accounts checklist for limited companies, image of a woman typing at laptop | Crunch
Tax

A company year end can be a daunting undertaking for first-time limited company directors. However it needn't be the end of the world. Here's what you need to know to get your year end accounts sorted.

Tax

Would you pay more National Insurance to receive the same benefits as full-time employees? We explore a policy proposal from the RSA's Entreprenerial Audit.

Tax

A multinational online company with an out of town warehouse can pay less in business rates than a struggling independent high street shop. Is this fair?

Tax

If you’re hoping to start the new tax year afresh, a full check-up like this will give you some sound knowledge of your business and what you could be achieving, leaving you confident and assured about the future.

Coronavirus: three month extension announced for filing company accounts - Crunch - image of a stressed person
Tax

Coronavirus: The government has announced a three month extension period to file accounts with Companies House during the coronavirus emergency

Tax

Bad news if you were intending to pay off your Self Assessment tax bill with a personal credit card - this will no longer be an option as of 13th January.

Worker conducting some research, image of someone working at a desk | Crunch
Tax

If you've undertaken some R&D work, or even if you’ve worked for another company on a project, you could be due Research and Development tax relief.

A tattooed freelancer doing their taxes
Tax

We take a closer look at how the new Flat Rate VAT scheme and the Limited Cost Trader test will affect you if you’re a VAT registered small business.

In sickness and in wealth: Marriage Allowance explained, image of a couple getting married | Crunch
Tax

The new Marriage Allowance policy will allow some couples to potentially save on the amount of income tax they pay.

Couple with an ultrasound
Tax

Small businesses can ask HMRC for an advance of payments to employees and directors to cover statutory maternity and paternity pay.

What is an Earlier Year Corrections (EYC)?, image of HMRC logo on a brick wall | Crunch
Tax

An EYC enables you to amend (‘update’) any payroll data previously submitted to HMRC for an employee or director of your limited company after 19th April, for the preceding tax year, even if your payroll is closed.

RTI How-To: Filing for free with Basic PAYE Tools, image of someone working | Crunch
Tax

Do you find Real Time Information confusing? We show you how you can download PAYE tools and how to use them in order to make your filing simpler.

Person entering their details
Tax

HMRC has experienced a number of issues which has lead to some delays and difficulties. Here's how things stand with MTD for VAT.

What is Financial Reporting Standard (FRS) 105?, image of mechanic repairing a bike | Crunch
Tax

FRS 105 is the Financial Reporting Standard applicable to micro-entities in the UK (issued by the Financial Reporting Council ).

Driver
Tax

Missed our Self Assessment webinar for Hermes drivers? Don't worry, the recordingis available to view - we also recorded a Q&A to answer your questions.

Man opening a letter
Tax

Benefits in kind are benefits that employees or directors receive from their company which aren’t included in their salary or wages. They’re also sometimes called ‘perks’ or ‘fringe benefits’. Not all benefits in kind are treated in the same way by the tax system, so here's what you need to know.

HMRC
Tax

In the 2014 Budget, the government revealed they were handing new powers to HMRC to recover debts. We look at the legislation and what this means.

Tax

Is a Jaffa Cake a cake, or a biscuit? It took a case in court to come up with a full answer. Find out the answer here.

Dancing tax
Tax

From urine to beards and all the way back to biscuits and breast implants! Here’s a list of our all-time favourite daft tax laws.

Credit card payment
Tax

Starting this month, HMRC is introducing a new way of collecting personal tax, called Simple Assessment. Here's what the self-employed need to know.

Old Glory
Tax

Think UK tax laws are ridiculous? Americans living and working abroad are taxed simply for being American. We take a close look.

Business guides

View all guides

Join Crunch Chorus: The free community for the self-employed

Stay up-to-date with the latest news affecting small businesses, join us at events, and network with like-minded people. You can also access a full range of resources including business guides, advice videos and useful tools, plus discounts on Crunch services and products.

Find out more

Why business owners love us

Ben

July 13, 2021

We received brilliant support from Luke and Karly regarding securing our first mortgage. They were both extremely helpful and very quick to respond to our questions. Given our tricky situation, myself being a contractor and my partner in full-time work it required a bit of back and forth with the lender however it was very quickly sorted and our mortgage approved. I wouldn't hesitate to recommend Crunch to friends especially those who are self-employed/contractors. Thank you!

Scott Dunn

July 10, 2021

I have taken the plunge and gone part time in a new business and have found crunch idea to take the pressure off me from a financial side . I had an outstanding call yesterday with Danielle who went above and beyond to help me and be patient due to dyslexia and lack of confidence in form filling. The way she was with me was simply outstanding, and I now have an excellent overview of how to input and generate invoices. This would not have been achieved but for this wonderfully patient client support manager thank you so much, and what I thought was going to be a clunky process has turned out to be far easier than I thought. Simply brilliant support

Wendy T

July 9, 2021

Had a really helpful conversation with Crunch today - answered all my questions and couldn’t have been nicer. Great customer service.

More categories