Tags » Sole Trader

The Simplified Cash Basis for small businesses

Businesses that turnover under the current VAT threshold (£81,000 per annum) are able to use the simplified cash basis to prepare their accounts for the tax year 2013-14. 340 more words

What a Week!

What a week, there have been highs, there have been lows but it’s been anything but dull.

Last Thursday I attended my first session at the Chamber of Commerce as an independent business mentor for a gentleman looking to start his own business. 994 more words

DE Craft Show

What to expect if HMRC wants to check your tax return

HMRC regularly audit businesses and individuals to examine records and check for mistakes. While checks on Self Assessment Tax Returns are less common than those on VAT and PAYE, you should always be prepared for a visit from HMRC’s inspectors. 541 more words

What They Don't Teach You In Med School - How To Be Tax Efficient

After years of hard graft and education attaining your GP qualifications, you might feel fully prepared to begin your career in primary care. However, starting out as a GP requires even more than your already extensive medical experience. 714 more words

Advice Guide

Second Payment on Account Deadline Looms

If your income tax bill for 2012-13 was more than £1,000 and less than 80% of this was collected at source (ie through your payslip) then you are required to make two payments on account towards your 2013-14 tax bill; one on 31st January 2014 and the other on 31st July 2014. 272 more words

Payments on Account for the Self-Employed

We provide accounting services to hundreds of small businesses, sole traders and freelancers across the UK and one of the topics we have to explain the most is how “Payments on Account” work for the Self-Employed. 172 more words

Can I claim Training Costs if I am Self-Employed?

If you are a freelancer / sole trader then you have to be careful with training and development costs to ensure they qualify for tax relief. 106 more words