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The £1,000 trading allowance gives plenty of side projects room to breathe, but it is not a permanent invisibility cloak. Here is how to spot the moment your hobby becomes a taxable trade — and what to do before the January deadline creeps up.
The £150 annual party exemption is generous, but guests and upgrades can turn a festive perk into a taxable benefit. Here is how the rule works for the 2026 Christmas do, with realistic scenarios and a booking checklist.
Most small businesses overpay tax not because they're doing anything wrong, but because they never claimed what they were entitled to. Here are twelve legitimate expenses that quietly go unclaimed every year, plus three claims that tend to attract unwelcome letters from HMRC.