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 […]
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 […]
Employed and self-employed – What tax will I pay?
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 […]
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 […]
What is a tax enquiry and how can you avoid one?
Tax enquiry, Tax investigation, eek … all sounds a bit scary doesn’t it? And, when it comes to your small business accounts and taxes, haven’t you spent enough sleepless nights worrying about whether you are doing everything legally and above board? Facing up to a Tax Enquiry can seem like a daunting prospect. And I’ll […]
10 Reasons why it pays to submit your tax return early
Who has sat down at the last minute to do their tax return only to discover that there is something they don’t understand, paperwork that can’t be located or that their tax position is more complicated than first envisaged? And, then the problem you discover is that there’s not enough time to figure it out […]