The Winchester Bookkeeping Company

Bookkeeping, accounts and tax support for sole traders in Hampshire

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The 5 biggest myths about claiming expenses

January 7, 2016 By Karen Upcraft

You’re a sole trader. You’ve made it this far with your small business accounts preparation and you can feel the end in sight. But, come to working out what you can and cannot claim as an expense (for tax purposes) and that sense of achievement starts to diminish. You’re baffled by the rules and you’re not quite sure […]

Filed Under: Personal taxation, Self assessment, Self employment, Working from home Tagged With: Claiming expenses, personal taxation, self-assessment taxation, sole trader expenses, Tax returns, working from home

A Tax Return Checklist (part 2)

November 19, 2015 By Karen Upcraft

If the thought of completing a tax return feels scary and overwhelming right now. If, just hearing the word “tax” sends your heart racing. Let me start by saying that you’re not alone. It’s entirely normal to feel like you should be coping with everything that running a small business entails. I know I do! […]

Filed Under: Bookkeeping and accounting, Personal taxation, Record keeping, Self assessment, Self employment, Starting Up, Working from home Tagged With: 2014-15 tax year, hobby business, self assessment, sole trader bookkeeping, sole trader self assessment, sole trader tax, sole traders tax return, tax relief charitable donations, tax return, Tax returns, Using an accountant

A Tax Return Checklist (part 1)

November 14, 2015 By Karen Upcraft

Regular bookkeeeping

It’s that time of year again. Goodness only knows where you’ve put that receipt, what you could or should be claiming for, how you’ll get through your tax return with your sanity intact. Sound familiar? To ease you into that zone of inner calm, I have put together a 2 part guide (part 2 will be […]

Filed Under: Personal taxation, Record keeping, Self assessment, Self employment, Working from home Tagged With: 2014-15 tax year, self assessment tax, sole trader self assessment, sole traders tax return, tax return

Can I claim for my food and drink expenses?

September 23, 2015 By Karen Upcraft

Food and drink expenses 1

Running your own small business is tough at the best of times but trying to fathom what you can and cannot claim for your business costs and expenses can seem like an impossible task. Food and drink costs are no exception and the rules around claiming these costs as a sole trader can seem complicated […]

Filed Under: Personal taxation, Self assessment, Self employment, Working from home Tagged With: Allowable expenses, Claiming food and drink, self assessment, Self-employment, sole trader, Tax returns

Making your charitable donations go further

September 16, 2015 By Karen Upcraft

There has been a spate of charitable giving in my household recently. My girls have just come back from a 10km run, supporting a charity close to our hearts. There have been trips to Naomi House with clothes that no longer fit and toys they’ve outgrown. On the global scale, we’ve seen disaster appeals for the earthquake […]

Filed Under: Personal taxation, Self assessment, Self employment Tagged With: Personal tax, self assessment, Self-employment, tax relief charitable donations

You’re a sole trader – do you really need an Accountant?

September 4, 2015 By Karen Upcraft

Use an accountant

You’re a sole trader with a small business – do you really need an Accountant? You may be surprised to learn that there is no mandatory requirement for sole traders to use an Accountant and, there will be many occasions when you can confidently forge ahead on your own steam. But, can you dispense entirely of […]

Filed Under: Accounting software, Bookkeeping and accounting, Personal taxation, Pricing your product and services, Record keeping, Self assessment, Self employment, Starting Up, VAT Tagged With: Self-employment, sole trader bookkeeping, sole trader self assessment, Using an accountant

3 Simple ways to save tax (honestly)!

August 18, 2015 By Karen Upcraft

3 simple ways to save tax

You may have made that leap into self-employment or perhaps you’ve been juggling an employed role with a small home business at the side. Either way it’s been maddening watching a portion of that hard-earned income disappearing out of your bank account to pay the taxman. Wouldn’t you agree? None of us like paying tax […]

Filed Under: Personal taxation, Self employment Tagged With: personal taxation, saving tax

What the 2015 Summer Budget means for Sole Traders

July 12, 2015 By Karen Upcraft

2015 summer budget

Have you been left wondering why we’ve just had yet another Budget this year and what it all means for sole trader businesses and you personally? We did have a Budget back in March this year but after a new government has been elected the Chancellor traditionally has to announce a new one.  The difference was […]

Filed Under: Personal taxation, Self assessment, Self employment Tagged With: personal taxation, self assessment tax, Self employed income tax, Summer budget 2015

Pricing your product or service – 3 common pitfalls to avoid

June 30, 2015 By Karen Upcraft

Pricing your product and service

Pricing your product or service can be so tricky.  There’s your goal – to build a profitable, sustainable business. At the same time you’re working at making yourself both affordable and accessible to customers who value your product or service. But, at times, do you wonder whether you’ve got it right? If your price is too […]

Filed Under: Business planning, Pricing your product and services, Self employment, Starting Up Tagged With: Pricing your product and service, Self-employment, starting up a business

5 sole trader bookkeeping mistakes to avoid

May 28, 2015 By Karen Upcraft

5 sole trader bookkeeping mistakes to avoid

It’s taken commitment, guts and talent to create something out of nothing. I know from personal experience that’s no mean feat. It’s seriously hard work. You’re juggling more things than sometimes seems possible. You’re trying to do it all. And I’ll bet there have been times that you’ve wanted to throw in the towel. Am I […]

Filed Under: Bookkeeping and accounting, Record keeping, Self employment, Starting Up Tagged With: bookkeeping, creating a business, record keeping, sole trader bookkeeping

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Recent Posts

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The Winchester Bookkeeping Company Ltd. Registered office: The Elms, Itchen Abbas,SO21 1BN. Registered in England & Wales. No: 8942503.

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