The Winchester Bookkeeping Company

Bookkeeping, accounts and tax support for sole traders in Hampshire

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But my friend claims that as a tax expense……..

November 24, 2017 By Karen Upcraft

claiming a tax expense

Being able to chat to a friend about the ups-and-downs of running your small businesses can sometimes make all the difference to getting through the week with your sanity intact. You’re out there on our own so sharing the success, moaning about the difficulties and working out the parts you don’t have first-hand knowledge in, can […]

Filed Under: Personal taxation, Self assessment, Self employment, Tax planning, VAT Tagged With: personal taxation, self assessment tax, sole trader self assessment, sole traders tax return, tax planning, Tax returns, Using an accountant

Are you using your Personal Tax Account?

October 18, 2017 By Karen Upcraft

Personal Tax Account

What’s the thing you dislike most about dealing with your own personal tax affairs? Other than the ever-present stress of getting your tax return done and dusted, don’t you just dread putting in phone calls to HMRC?  I know I do. Dealing with even the most mundane of matters can eat into my precious working […]

Filed Under: Bookkeeping and accounting, Business planning, Personal taxation, Self assessment, Self employment, Tax planning Tagged With: Making Tax Digital, Personal Tax Account, personal taxation, SA302, Self employed income tax, Self-employment, sole trader bookkeeping, sole trader self assessment, tax planning, Tax returns

Employed and self-employed – What tax will I pay?

March 26, 2017 By Karen Upcraft

What tax do I pay if I am self-employed and employed

You’re currently employed but want to start up a business as a sideline either because you are transitioning from a hobby or you’re keen to supplement your income. Either way, you’re ready to take the leap but haven’t quite got your head around the tax side of things. Am I right? The first thing to […]

Filed Under: Budgeting for small business, Personal taxation, Self assessment, Self employment, Starting Up, Working from home Tagged With: employed Income tax, hobby business, National Insurance, personal taxation, self assessment, Self employed income tax, Self-employment, sole trader, starting up a business, Tax returns

Budget 2017: Key points for small business owners

March 10, 2017 By Karen Upcraft

It would appear that small businesses and the self-employed have once again come into the firing line through measures introduced in the Chancellor’s Spring Budget. For the full 68 page report on the Budget 2017 you can click here. In the meantime, here are the key points affecting small business owners: Compliance with Making Tax […]

Filed Under: online accounting software, Personal taxation, Self assessment, Self employment, VAT Tagged With: bookkeeping, Budget 2017, Online accounting software, online invoicing, personal taxation, self assessment, self employed, Self-employment, sole trader

What happens if I don’t file my self-assessment tax return on time?

January 14, 2017 By Karen Upcraft

Self-assessment deadline

    If you’re new to self-assessment or haven’t quite got your act together on the paperwork front, you may worrying about whether you’re going to “make it” before the deadline and anxious about the repercussions of a late tax return submission to HMRC. Here are the facts: Your tax return for 2015-16 is due […]

Filed Under: Personal taxation, Self assessment, Self employment, Starting Up Tagged With: personal taxation, self assessment, self assessment tax, self employed, sole trader, tax planning

Can I still claim tax relief if I lose a receipt?

November 13, 2016 By Karen Upcraft

You sit down to tackle the mound of paperwork in your weekly, monthly or dare I mention annual bookkeeping ritual (click here for why this isn’t a good idea) only to discover you’re missing receipts for expenses you know you’ve incurred. You understand that “allowable” expenses are a good thing when it comes to working out […]

Filed Under: Bookkeeping and accounting, Personal taxation, Record keeping, Self assessment, Self employment, Starting Up, Working from home Tagged With: bookkeeping, Online accounting software, personal taxation, Receipts, record keeping, sole trader bookkeeping, sole trader self assessment, Tax relief, Tax returns, Xero

Payments on account – a guide for sole traders

September 25, 2016 By Karen Upcraft

Payments on account are one of the most commonly misunderstood aspects of the self-assessment process and although the intention is to help self-employed people spread out their tax bill, the advantages might not seem so apparent when you ‘re first asked to pay a whopping big tax bill up front. What are payments on account? […]

Filed Under: Business planning, Personal taxation, Self assessment, Self employment, Starting Up, Tax planning, Working from home Tagged With: Budgeting, Financial planning, payments on account, personal taxation, self assessment, Self employed income tax, Self-employment, sole trader, sole trader self assessment, tax, tax return

I’m a sole trader – will I need to submit 4 tax returns a year?

April 24, 2016 By Karen Upcraft

You’re a sole trader running a small business. You’re feeling comfortable with the whole annual self-assessment tax process and you’ve mastered Excel spread-sheets. But, brace yourself. The government has planned a big digital overhaul of the tax system with a raft of new tax changes coming your way. The rationale behind the “Making Tax Digital” plan is HMRC’s […]

Filed Under: Accounting software, Bookkeeping and accounting, Business planning, Excel, online accounting software, Record keeping, Self assessment, Self employment, Tax planning Tagged With: bookkeeping, Digital tax accounts, Making Tax Digital, Online accounting software, personal taxation, self employed, sole trader

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Recent Posts

  • Autumn Budget 2017: A summary for small business owners
  • But my friend claims that as a tax expense……..
  • Are you using your Personal Tax Account?
  • Self-employed? 6 tips to boost your chances of getting a mortgage
  • I’m self-employed. How can I prove my income for a mortgage?

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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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