Book: Self-Employment UK Tax Guide 2017

Book: Self-Employment UK Tax Guide 2017

This free (and highly detailed) book, written by Diana Hurta, is for people who run a business or planning to start own business in the United Kingdom as a self-employed. You will find answers to these questions:   What does it mean to be self-employed. What are your responsibilities. When do you need to file your tax return. What and how much tax do you need to pay. What records do you need to keep. What expenses you can claim. How to keep tidy records.   Also you will get GIFTS!   Download  our FREE ebook in PDF format by subscribing to our email list using the quick form below. […]

Never Mess With Bookkeeping – Download FREE Spreadsheet

Never Mess With Bookkeeping – Download FREE Spreadsheet

For lots of business owners bookkeeping is a nightmare. However bookkeeping is very important part of your business and tidy records helps you understand better your financial situation and prevent loss. We believe everyone wants to be successful in a business. To make your life easier we have created a bookkeeping spreadsheet (non VAT registered) for you. It will give you income and expenditure totals for each month and for each category, as well as overall totals for the year. This spreadsheet is very simple and will help you keeping business financial records.         Follow us on Facebook to find more tips in business, accounting, tax and […]

Tax: How you can spot and protect yourself from scammers

Tax: How you can spot and protect yourself from scammers

Tax scam   In this time of the year thousands of taxpayers have been targeted by fraudsters trying to use fake emails or text messages, that they look like come from HMRC, to access people’s online tax records.   People receiving emails or text messages are told that they are due a tax refund / rebate but direct them to a fake website that ask to enter login details, bank details, reply to text messages, download attachments.   It can be difficult to tell the difference between a genuine offer and a tax refund scam email or text message, so here are some tips to help you.   How you […]

Self-Employed Expenses: How to reduce a tax bill

Self-Employed Expenses: How to reduce a tax bill

If you’re self-employed, your business will have various running costs and expenses. You can take these costs away from your business income to work out the taxable profit. Claim all business expenses and capital allowances and you can reduce your taxable profit. Self-employed: Allowable expenses   Office costs: stationery and postage; phone, mobile, internet, email and fax bills; printing, printer ink, cartridges and other small office equipment costs; computer software; rent, business and waters rates, utility bills and insurance costs. Travel costs: vehicle insurance, repairs and servicing, fuel, parking, hire charges, vehicle licence fees, membership, breakdown cover; train, bus, air and taxi fares; hotel room costs and meals on overnight […]

Tax Return: Who needs to complete

Tax Return: Who needs to complete

The tax year in UK is from 6 April to 5 April the following year. Self Assessment is a system HM Revenue and Customs (HMRC) uses to collect Income Tax. Tax is usually deducted automatically from wages, pensions and savings. People and businesses with other income must report it in a tax return. Who must send a tax return You’ll need to send a tax return if, in the last tax year:   you were self-employed even though the tax due may in fact be ‘nil’ you were a company director you got dividends from shares you had income from abroad that you needed to pay tax on you lived […]