Let’s get something out in the open right now – VAT is not a scary word. VAT, or value added tax, is just another part of running a business in the UK. Most businesses in the UK who sell products have to be registered for VAT, and most who offer services as well too. It […]
Nobody has less time than a self-employed tradesman or tradeswoman. Yet the amount of unavoidable paperwork increases every year, with more responsibilities stacked up on the desk. But no plumber, electrician or builder can be successful with just a pocket diary and a receipt book. And this year, there’s been a big change. GDPR hit […]
Whether you’re already in business and have been for a while, or are planning to become a small business owner sometime soon, your best resource might come from a rather unexpected source. It’s not your first hire, your VA or even your networking group. Rather, it’s the person who balances your budget, prepares your taxes […]
This time last year, Phillip Hammond opened his big red briefcase and delivered some news that shocked small business owners across the country. Hidden among plans to increase ISA allowances and removing tax perks on buy-to-let properties, Mr Hammond revealed that from April 1st 2018, business owners who pay themselves in the form of dividends […]
When you start out a business, one of the first things you need to do is decide when you will pay yourself. As the business grows, you will also need to make this decision for your employees. Will you pay everyone monthly? Twice a month? Weekly? There are a lot of options out there, and […]
The life of a small business owner is hectic. It’s a never ending cycle of ups and downs, mistakes, victories, advice you wish you’d known sooner and processes you just never seem to get the hang of. For many business owners, this includes handling the finances of the business. Unfortunately, finance is the bread and […]
Did you know that there are now over 4.5 million private sector businesses in the UK? That’s businesses just like yours, that are privately owned and often run by one person, or a small group of people. The shares aren’t open to the public, and you run your business as you see fit. Most of […]
Yes, ladies and gents, it’s that time of year again when every accountant for miles around seems to be talking about nothing but getting your tax return filled in on time. While the deadline for physical submissions has been and gone, the online deadline of January 31st is almost upon us. And we’ve all heard […]
If you are a self-employed business owner, you will already know that your business is going to incur a lot of costs. But you don’t have to bear those costs personally – you can deduct some of those costs from your businesses. This helps you work out your taxable profit, and means the expense comes […]
I know it seems a world away right now, but the deadlines for filing your self-assessment tax returns are coming up fast. In fact, if you still file by paper, you’ve only got 2 months to go! If you earn any money whatsoever outside of an employers PAYE scheme (so for example if you are […]