Do I need a business bank account?
One of the first questions that people ask when setting up as a freelancer or self employed is “Do I need a business bank account?” Firstly, it depends on whether you are going to trade as a limited company or …
Category: Book keeping
Start up planning
It is very tempting, when starting a new business, to think only about the day to day trading, and opt for the cheapest method of starting-up by opting for free-banking and avoiding the “perceived” expense of solicitors and accountants. A …
MTD Facts and Fiction
MTD for VAT MTD for VAT is now in force and all VAT registered businesses with annual taxable turnover exceeding £85,000 must comply with the making tax digital (MTD) rules for VAT. There are two requirements for MTD: to keep …
Book-Keeping
Many businesses spend hours on book-keeping but achieve little. Many other businesses “bury their heads in the sand” and simply don’t do anything at all! There is a legal requirement for all businesses and the self employed to keep complete …
Limited company benefits
Hundreds of private limited companies are being formed every day. If you are thinking of starting a new business, or are currently in business as a sole trader or partnership, you really need to be thinking about whether to trade …
Do you need an accountant?
The question a lot of people ask is whether they need an accountant to do their book-keeping, accounts preparation and tax returns. Well, think about your car and what you’d do if the brakes were faulty:- (a) Would you repair …
Trivial Benefits
Home › Trivial Benefits Trivial Benefits Employees react well to little rewards from their employer, especially if the treat is unexpected and seen as a genuine “thank you”. These occasional trivial benefits can be provided tax free if all four of the …
Self Employed Travel Expenses
As a self-employed trader, do you diligently record the mileage for every business journey you take? This attention to detail is necessary to convince HMRC that the cost of the journey is tax deductible. There are several apps which can …