Guides

You’ve built your business from scratch. Things are growing, you’re bringing in more income, and now you’re hearing… “You’ll soon need to file your taxes every 3 months if you earn over £50,000.” Welcome to Making Tax Digital (MTD) — HMRC’s new rule starting April 2026.If you’re a sole trader making more than £50k, you’ll

Your Profit & Loss (P&L) statement tells you if your business is making money or losing it.It’s not just an “accountant thing” — it’s a tool for smart decision-making. If you can read your P&L like a CEO, you can: Spot what’s working See where money’s leaking Make better choices faster So let’s break it