Running a business can be challenging, and almost always involves heaps of paperwork to sort out. You’ll need to make lots of important decisions on all sorts of things too, particularly when it comes to your finances. It can get a bit confusing, which is why lots of business owners decide to get some help…
If you’re about to submit a Self Assessment or you’re still fairly new to it, then you might stumble across ‘payments on account’. These are basically advance payments that you make towards your self-employed tax bill, but not everyone needs to make them. To help you plan ahead and manage your cash flow, we explain…
As the saying sort of goes, paying tax is pretty much inevitable, whether you’re employed, self-employed, or earning money from a side hustle or as a landlord. The money you earn from an employer is usually taxed at source, which means that your employer deducts the right amount of tax and National Insurance on your…
Pension planning isn’t always top of most self-employed people’s priorities, but we can all benefit from making some extra provision for our later years. Often, self-employed people will say that their business is their pension but that doesn’t always work out. Imagine if you invested in a Blockbuster franchise in the 1990s; you’ll be a…
Recording dividends in your accounts is a fairly easy process, but because many companies only declare them once a year people rarely get to experience how the transaction works. So, to help you with declaring dividends and getting your bookkeeping right, we are looking at: What are dividends? Making the decision to pay a…
