Running one business is plenty of work by itself, but it’s not unheard of for some people to run multiple businesses at the same time. These might be sole trader enterprises, limited companies, or a combination. There aren’t any rules to say that you can’t run more than one business, but doing so can sometimes…
Being a company director means you can take a more flexible approach to how and when you pay yourself. In most cases this means taking a tax-efficient ‘split’ income, where part of the money you pay yourself from the company comes from a salary, and the other part comes from dividends. This tax efficiency is…
A freelancer and a contractor are two different things, though the terms are often used interchangeably. It’s easy to see why the differences between the two are often overlooked, when both are: Forms of self-employment Temporary additions to a company’s in-house workforce Non-salaried Despite these similarities, freelance work is actually a different beast to contracting,…
First of all, let us say a huge congratulations. If you’re at the point where your side hustle is a viable means for self-employment, this is a seriously impressive milestone! Now it’s time to look at the pivotal crossroads you’ve reached. You can either continue the way you were, juggling your side hustle with other…
As humans, it’s pretty tricky to avoid human error entirely. It’s in our nature to make mistakes, especially if we’re busy running a business. But it’s also crucial to try and limit potential errors in your business accounts….