Tax season is here. The self-assessment tax return deadline for the last tax year is January 31; the end of this month.
This means it’s perfect timing to discuss the responsibilities of a sole trader in regards to personal income tax when starting out in the medical aesthetics specialty.
I am regularly approached by medical professionals who have invested in themselves through training as aesthetic practitioners. They often move from employed roles in the NHS and are taking the leap to become self-employed, which can be daunting for many. As life and work are busy, the formality of registering the new business gets pushed down the to-do list and often becomes a cause of anxiety and panic later down the line.
The most common questions I get asked in my tax clinics are:
As an accountant, I meet many business owners that get completely overwhelmed by the concept of small business accounting and tax, so this article aims to help simplify the basic steps and advise those new to the industry on what…
