From April 2026, any sole traders or landlords earning a combined income of over £50,000 will need to comply with Making Tax Digital, with phased deadlines for lower income thresholds following in 2027 and 2028.

In this second episode in a special four-part mini-series on Making Tax Digital for Income Tax, Samantha Skyring from TaxAssist Accountants breaks down how to prepare for Making Tax Digital for Income Tax. She explains what the new system means for sole traders and landlords and why moving away from paper records sooner rather than later, will save stress.

Samantha highlights how the right HMRC-approved software can make quarterly updates a simple, automated process, while accountants can provide valuable support for those less digitally confident. She also shares how TaxAssist is helping clients transition through training, webinars and flexible service packages. With early preparation, Making Tax Digital doesn’t have to be daunting – it can even make record-keeping easier and more efficient.

Thanks to TaxAssist Accountants for sponsoring this mini-series on MTD for Income Tax. TaxAssist is currently offering listeners the opportunity to register for their free webinar for further advice on Making Tax Digital for Income Tax. You’ll get expert guidance on how to digitise your records and meet your obligations, as well as the opportunity to ask any burning questions. Click here to register.

Show notes for the episode can be found on the Start Your Own Business podcast website. Visit Start Up Donut and sign up to the Donut newsletter for more free start-up news, advice and special offers to help you save time and money.

From April 2026, if you are a sole trader or landlord and earn over £50,000 from self-employment or property, you’ll need to keep digital records and send quarterly updates to HMRC, with the entry point dropping to £30,000 in 2027 and £20,000 in 2028. So, how will things change once Making Tax Digital (MTD) for Income Tax has been introduced? How will sole traders and landlords be required to keep financial records, and – crucially – report information so that HMRC can work out how much tax is owed? Will they still need to file self assessment tax returns?

In this first episode in a four-part mini-series on MTD for Income Tax, we speak to chartered certified accountant Jo Nockels FCCA, FMAAT of TaxAssist Accountants, a network of accountants across the UK that delivers accounting and tax services to small-business owners. Here Jo explains how sole traders and landlords will be affected by MTD for income tax changes.

Thanks to TaxAssist Accountants for sponsoring this mini-series on MTD for Income Tax. TaxAssist is currently offering listeners the opportunity to register for their free webinar for further advice on Making Tax Digital for Income Tax. You’ll get expert guidance on how to digitise your records and meet your obligations, as well as the opportunity to ask any burning questions. Click here to register.

Show notes for the episode can be found on the Start Your Own Business podcast website. Visit Start Up Donut and sign up to the Donut newsletter for more free start-up news, advice and special offers to help you save time and money.

Higher living costs, record price increases across the board and wages that haven’t kept pace has led many millions of people in the UK to have their own “side-hustle” in recent years, as a way to supplement their main income.

Side-hustles have become hugely popular. Research carried out by leading accounting software provider Sage in 2024 found that almost half (47%) of UK adults had a side-hustle and among the under-34s, 90% planned to turn their side-hustle into a full-time business. More than two-thirds of 16-34 years olds were running multiple side-hustles, earning an extra £546 per month on average.

Coping with the demands of a full-time (or even part-time job) and family commitments can be challenging enough, without running a side-hustle, when there can be many additional tasks to take care of. So, how is it done?

In this episode, we speak to Sam Feller of Popcorn Shed, a highly successful popcorn brand he founded with his cousin Laura Jackson in 2015. For 18 months, while developing their brand and business idea, Sam and Laura held down demanding full-time jobs in London, running Popcorn Shed as a home-based side-hustle. So, what was their recipe for success?

Thanks to Sage for sponsoring this episode. Sage is currently offering listeners 50% off Sage Accounting for three months. Visit this link to claim your offer.

Show notes for the episode can be found on the Start Your Own Business podcast website. Visit Start Up Donut and sign up to the Donut newsletter for more free start-up news, advice and special offers to help you save time and money.

AI – artificial intelligence – is increasingly becoming part of everyday life. Its rise to prominence has become much more rapid in recent years, with resistance to its progress seemingly futile. Although some concerns have been raised over the implications of AI, it’s already being used widely, providing significant benefits to users, many small-business owners among them. Potentially, AI can provide significant effort, time and cost savings to new and established small businesses, enabling you to be more efficient, successful and profitable.

In this episode, we speak to AI expert Phil Hobden of Sage. Phil shares his considerable insight into the fascinating world of AI and offers tips on how AI can be used to save effort, time and money when you’re starting or running your own small business.

Thanks to Sage for sponsoring this episode. Sage is currently offering listeners 50% off Sage Accounting for three months. Visit this link to claim your offer.

In a hurry? Here's some highlights:

• 02:13 Understanding artificial intelligence (AI)
• 03:37 AI vs automation
• 11:13 The importance of quality data when using AI
• 13:14 Practical benefits of AI for small businesses
• 31:45 How to use AI to start your business
• 51:11 Top tips for using AI in your business

Show notes for the episode can be found on the Start Your Own Business podcast website. Visit Start Up Donut and sign up to the Donut newsletter for more free start-up news, advice and special offers to help you save time and money.

It’s the stuff of entrepreneurial dreams. To come up with a pioneering product idea, develop a prototype, create a hugely appealing brand and start a highly successful business that you grow and sell for a huge amount of money. That’s exactly what Rob Law MBE did. Coming from a product design background, he founded Trunki in 2006. Trunki is the much-loved ride-on suitcase for children, which come in various designs.

Rob built up his Bristol-based business over 17 years, selling millions of Trunki suitcases, exporting to more than 100 countries, while providing jobs for 80 people. Rob exited Trunki in 2023, selling the business for a reported £12m. In this fascinating episode, Rob talks about how he started, scaled and sold his phenomenally successful business, proving the Dragons very wrong in the process.

This episode is brought to you thanks to the support of investment platform, Lightyear.

Show notes for the episode can be found on the Start Your Own Business podcast website. Visit Start Up Donut and sign up to the Donut newsletter for more free start-up news, advice and special offers to help you save time and money.

If you really want to grow your business at a faster pace or achieve significant growth, more than likely, unless you’re rich or your business is super profitable, you’ll need to attract external funding or finance. There are many options, but one of the most common is attracting investment from a wealthy investor or group of them. Find the right investor, and not only do you gain from their wealth by getting the funding you need, but you may also be able to benefit from their experience, knowledge and contacts. But, how do you and your business get ready for investment, where do you find suitable investors, what would attract them to your business and how can you ensure that the relationship works well?

In this episode, Martin Sokk, CEO and founder of low-fee investing app Lightyear, offers tips on how to attract and work with suitable investors. He also provides tips on how you can avoid common mistakes when it comes to attracting an investor.

This episode is brought to you thanks to the support of investment platform, Lightyear.

Show notes for the episode can be found on the Start Your Own Business podcast website. Visit Start Up Donut and sign up to the Donut newsletter for more free start-up news, advice and special offers to help you save time and money.

You might be really skillful, knowledgeable and experienced when it comes to your trade or profession. Maybe you’re a brilliant salesperson. However, if you’re new to running your own business, you might not know much about how to manage your finances as a start-up. Unless you come from a financial background – why would you? But if your new business is to survive and grow, you should know a few basics about managing your finances as a start up. It could make a big difference. It could even prevent you from making simple mistakes that cause you big problems.

In this episode, we speak to chartered accountant Kate Gloudemans, experienced financial director and founder of accountancy firm Sprout. She offers essential tips on how to manage your finances as a start-up.

This episode is brought to you thanks to the support of investment platform, Lightyear.

Show notes for the episode can be found on the Start Your Own Business podcast website. Visit Start Up Donut and sign up to the Donut newsletter for more free start-up news, advice and special offers to help you save time and money.

There are many things you need to do to succeed in business, but one of the most important is to stand out. It’s essential if you operate in a crowded, competitive market, as most businesses do. If your business fails to stand out, because your brand, products and services haven’t been differentiated, you’ll just blend into the background and fewer people will know you exist, let alone buy from you. Instead, they’ll buy from one of your competitors, because they believe there’s a very good reason for doing so.

So, how exactly do you make your business stand out in a competitive market? In this episode, on hand to answer this vital question is Dr Chris Endersby, co-founder of London-based brand agency Firestarter. He shares his considerable insight and tips on how to set yourself apart when you operate in a crowded market.

This episode is brought to you thanks to the support of investment platform, Lightyear.

Show notes for the episode can be found on the Start Your Own Business podcast website. Visit Start Up Donut and sign up to the Donut newsletter for more free start-up news, advice and special offers to help you save time and money.