MSCO Accountants

If you work for yourself in the UK, you are called a sole trader. You could be a builder, hairdresser, cleaner, driver, artist, or freelancer. No matter what you do, 2025 is the right time to open a sole trader business account . Here, at MSCO Accountants; we are all about helping people with their money matters. If you are a sole trader and need help with money, tax, and accounts; we can help. Here, we are going to tell you why having a business bank account is so important, and how it helps you run your business better. What Is a Sole Trader Business Account? A sole trader business account is a bank account you use only for your business. You do not use it for shopping, rent, or personal bills. You only use it for money you earn from your work and money you spend for your business. This makes things simple and tidy. Why Should You Open One in 2025? Many people still use their personal bank account for business. This may seem easy, but it can make things messy. It’s hard to ...

  Capital Gains Tax (CGT) is a tax that is applied on profit from the sale of a property or asset. Filing CGT comes with lots of confusion, including relief application, losses, accurate tax calculation, and compliance with all regulations.  Whether you are a landlord or business official, handling everything on your own may make the process more intricate. For precision, you must hire taxation services London . Certified and experienced ones will simplify all the aspects. Let’s unveil how.   What Is Capital Gains Tax? Capital Gains Tax (CGT) is a tax levied on the gain from the property or asset, such as a rental home, equity, or business asset. CGT is applicable only on profit, not the entire selling amount; keep it in mind. Let’s understand with an example:   ●      You bought a property for £200,000 and sold it for £300,000. ●      Now the profit is £100,000. ●      CGT will be calculated o...