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 […]
Making Tax Digital – what you need to know
Digitalising the tax system has been a hot topic on the government’s agenda for several years now. My earlier blog “I’m a sole trader – will I need to submit 4 tax returns a year?” outlined the government’s initial proposals on Making Tax Digital (MTD). The last year has seen a huge response from the […]
Are you guilty of sabotaging self-employment?
It’s taken commitment, guts and talent to create something out of nothing. And that’s something to celebrate! But the self-employment path is littered with challenges. Things like market conditions, competition, and supply and demand remain outside our control. But often it’s the things we can actually control that we’re guilty of unintentionally sabotaging. Maybe it’s […]
Why is everyone talking about Xero?
As an accountant, I regularly receive calls from software companies, inviting me to trial their product. So when I was first approached by Xero I have to admit that my initial reaction to the “salesy“ (although admittedly slick) marketing pitch was to run a mile. But actually, Xero proved to be anything but an […]
Can I still claim tax relief if I lose a receipt?
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 […]
7 tips to help improve your small business finances
Now that your small business accounts and tax (for the previous tax year) are done and dusted, consider taking some time to reflect on your business’s performance over the year. What went well? What didn’t work out? What could you do to improve over the next twelve months? Here are my 7 tips to help improve […]
A Tax Return Checklist (part 2)
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! […]
You’re a sole trader – do you really need 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 […]