Sole Trader vs Limited Company

You’ve got a fantastic business idea and you can’t wait to get going with it and make it a success. But what type of business should you be? It’s not as exciting as sorting out your branding, or planning your marketing strategy, it’s definitely worth spending some time thinking about what type of business you’re building.

12 Bookkeeping Tips for Micro Businesses

Did you know that there’s a special day just for us micro business owners? Celebrating and supporting the community, #MicroBusinessMatters Day is the only day dedicated to businesses with 0-9 employees. Whether you’re a freelancer, sole trader, or run a company with a tiny team, the 12 tips below will help you succeed with your accounts.

Important Numbers Every Business Owner Should Kow

Hello there, how’s your month going? Sales going well? How are they compared to last month, or this time last year? If you’re like a lot of small business owners, it’s likely that you don’t know the answer to this.

What Are Payments on Account?

Indulge me for a moment, and allow me to think that I have such influence that, after reading about when you should submit your self assessment, you immediately went off and submitted your tax return. Depending on the amount of tax you owe, you may have been told by HMRC to make payments on account (I almost wrote asked, but we all know it’s not really an invitation!) But what are they and why do you need to pay them?

Bookkeeping for Freelancers

It’s important for all businesses to keep track of their finances, but if you’re a freelancer it’s vital that you have a good understanding of the figures that make up your accounts. It’s likely that you’ll be working with a number of different clients and it can be tricky keeping on top of what work you’ve completed, what has been invoiced, and which invoices have been paid. So what are the main things you need to know as a freelancer?

When Should You Submit Your Self Assessment Tax Return?

Today marks the start of the new tax year, so now seems as good a time as any to talk about submitting your self assessment tax return. I know the deadline isn’t until January, but that’s the final deadline, not when you should start thinking about it!

Spring Budget 2017 - Key Changes for the Self-Employed

This week saw the Chancellor’s first and last spring budget, with lots announced that will give those of us who are self-employed lots to think about. Let’s take a closer look at some of the main points of the budget.

4 Common Bookkeeping Mistakes

Sadly there are always parts of running a business that aren’t quite as enjoyable as others, and for a lot of people the task at the top of that list is bookkeeping. It might not be your favourite way to spend a couple of hours, but good financial records are so important to creating a successful business. Here are 4 common mistakes a lot of business owners make, and how to avoid them.

5 Benefits of Outsourcing Your Bookkeeping

When you’re running a business, the finance side of things is often the one area that falls down the list of priorities as dealing with your accounts can be scary, even when things are going well! A good way of ensuring that you always have current financial knowledge, without taking your time away from what you do best, is to outsource your bookkeeping.

What Makes a Good Invoice?

I’ve seen many bad invoices in my time, you’d be surprised how many businesses don’t actually include their payment details! Late payment of invoices is the bugbear of every business and it’s important to have good processes in place for dealing with white rabbits (people who are always late!) But you also need to make sure that you’re making it as easy as possible for your customers to pay you, and a lot of that starts with the invoice itself.

Bookkeeping as a Sole Trader

You’ve just started your own sole trader business and you’re full of excitement and keen to get on with doing what you love, and that’s probably not bookkeeping. Good financial records are the foundation of your business and could determine its success. Following these three simple steps will mean that bookkeeping is no longer a burden.

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