From mixing personal and business finances to missing the MTD deadline — discover the 5 most common bookkeeping mistakes UK sole traders make and exactly how to fix each one before they cost you money.
Plain-English bookkeeping, VAT, and Making Tax Digital advice — written by a Xero Certified advisor who works with UK businesses every day.
From mixing personal and business finances to missing the MTD deadline — discover the 5 most common bookkeeping mistakes UK sole traders make and exactly how to fix each one before they cost you money.
MTD for Income Tax is live from 6 April 2026. If you earn over £50,000 as a sole trader, your first quarterly deadline is 7 August 2026. Here is exactly what you need to do.
Most UK sole traders are confused about the difference. This guide explains what each does, what you actually need at your stage of business, and how to avoid overpaying for services you do not need.