Tax. A word that makes most business owners cringe. But Debitoor gives you tips for making the tax season more bearable. And the tools to stay on top of your accounts.


New tax year: Changes from April 2021

Every April, the UK enters a new tax year, and most of us will be happy to put 2020 (finally) behind us. Over the coming weeks or months, you’ll likely start preparing your financial documents to submit your Self Assessment or Company Tax Return. There are also some upcoming changes that you should be aware of.

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Unlike previous years, the coronavirus pandemic has delayed many of the scheduled changes that were supposed to take place.

This article looks ahead to the new tax year, including tax breaks, VAT changes, new regulations, and wage changes being introduced.

Steve Bicknell

The super-deduction tax break for business equipment

As part of the 2021 budget, the Government announced the super-deduction tax break. The super-deduction allows businesses to claim 130% of expenditure for new business equipment against their taxable profits.

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The super-deduction begins from April 2021 and will provide up to 25p off your tax bill for every pound spent on eligible purchases of plant and machinery. This article explains how it works, which purchases are eligible, and how to calculate your savings.


Can I claim business expenses without a receipt?

Understanding what you can and can’t claim as a business expense is important, especially if you are just starting your business. This article outlines what you can claim as a business expense, if you can claim without a receipt, and how to easily keep track of your business expenses with invoicing & accounting software.

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Most businesses are aware that they can claim their business expenses as a deduction on their Self Assessment tax return. However, it is less commonly known that you can claim pre-trading costs from before you started your business. In fact, most pre-trading expenses and expenses incurred in your first year of business can be claimed.


Voluntary VAT registration: is it right for your business?

In the UK, VAT registration isn’t compulsory for everyone; while some companies are required to register for VAT, it’s optional for many freelancers, entrepreneurs, and small businesses.

In this blog post, we take a look at the advantages and disadvantages of voluntary VAT registration, the duties and responsibilities that come with registering for VAT, and how you should handle HMRC’s Making Tax Digital initiative if you’ve registered for VAT voluntarily.

Find out more about what voluntary VAT registration could mean for your business


Taxes for sole traders and small businesses in Australia

When you run a small business or work as a sole trader, you become responsible for managing your company taxes, which involves charging sales tax, lodging tax returns, and claiming tax credits. It’s therefore important to understand which taxes you might be accountable for if you run your own business in Australia.

In this blog post, we take a look at some of the main business taxes in Australia and explain how they might affect sole traders and small business owners.

Debitoor invoicing and accounting software helps small businesses and sole traders stay on top of company taxes


New UK tax year: what 2019-2020 means for small businesses

Each April welcomes the start of a new tax year in the UK. As always, the new tax year means new tax rates and thresholds, many of which were announced in the 2018 Autumn budget.

Many of these changes have a big impact on business owners, freelancers, and the self-employed. So to help you understand how your business might be affected by the new tax year, we take a look at what's new for 2019-2020.

It's the start of the new tax year for 2019-2020. Find out what this means for your business with Debitoor invoicing software


Taxes and devolution: what small businesses should know

British politics can be confusing; from budgets to Brexit, there’s a lot to keep track of. To make things even more complicated, political decisions are made in a number of different places and can affect different parts of the UK.

While legislation has traditionally been passed in Westminster on behalf of the entire country, things are changing. Over the past few years, the British Government has transferred power away from the Houses of Parliament and towards national governments through a process known as devolution. The aim of devolution is to give Scotland, Wales, and Northern Ireland more control over their own affairs - including taxes.

Taxes and devolution in the UK


Self employed in Ireland: A guide to your taxes (Part 1 of 2)

I know, I know - it isn't the most exciting of aspects when it comes to running a business, but unfortunately it has to be done.

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As there’s a lot ot get into, this topic will be split into two parts. In this post we'll go over the criteria for filing a self assessment tax return (or in the few cases that you don’t need to), and the method for self-assessment.

If you already know how self assessment works, but want to find out a bit more about how it all comes together, then in Part 2 we’ll have a closer look at a breakdown of each tax component: Income, Universal Social Charge (USC), Pay Related Social Insurance (PRSI), Value Added Tax (VAT), and about Tax Credits.


The taxes you'll pay as a freelancer or entrepreneur

When you start a business, you take on a whole host of new responsibilities, including managing your company taxes. It's safe to say that this isn't the most exciting part of running a business, but it is important to take the time to understand the tax process.

The UK has many different taxes that could affect small businesses - some of which you’ll have definitely heard of and some that are more obscure. To make the tax process easier to understand, we explain some of the main taxes you’ll need to take into account as a freelancer or entrepreneur, and how they can be managed with invoicing software.

Debitoor invoicing and accounting software makes it easy for freelancers, entrepreneurs, and sole traders to keep on top of company taxes


Tax 2.0

With plenty of promise and forewarning, HMRC will begin unveiling their new digital platform for individuals and small businesses this month.

The intention behind this initiative is to simplify the filing of tax in the UK, streamlining the process and providing a single platform for tax filing and information.


This new process has been touted as a modernisation of tax management. By providing individuals and businesses with their own online account, all information necessary for tax filing will now be saved and ready for filing.

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Debitoor is now SumUp!

The Debitoor application has been shut down, but if you're searching for an all-in-one invoicing software, SumUp has everything you need. SumUp is more than just invoicing software. We offer a range of integrated tools to help you run your business easily and efficiently. Open a Business Account with a free Mastercard, set up an online store, accept a variety of in-person and remote payments and much more. Start streamlining your invoices, payments and accounts today!

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