This week, Phillip Hammond, the Chancellor presented his Autumn Budget for 2017 and for small business owners, nothing that was announced really “rocked the boat”. It was a budget of lots of small measures rather than any big announcement. There were however a few pointers to some bigger changes that may come about in the […]
But my friend claims that as 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 […]
Are you using your 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 […]
Self-employed? 6 tips to boost your chances of getting a mortgage
Self-employment is an increasingly popular lifestyle and career choice for many. But while the benefits of being your own boss and the flexibility afforded are something to celebrate, the path can be littered with challenges. Obtaining a mortgage is one of them. It’s not easy. But, in my two-part blog series I help show you how […]
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 […]
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 […]
Payments on account – a guide for sole traders
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? […]