When you run your small business, tracking your invoices and payments may seem tiresome, but it’s paramount to ensuring success. Disorganised invoice management can have an adverse effect on your finances, particularly in relation to cashflow, taxes, income and expenses. As your business grows, you might come to the conclusion that you need a more … Read more
Is this a business term you hear regularly but aren’t sure of the exact answer? Although there are varying factors and characteristics to determine what is a SME business, it’s important you’re aware of what it actually means as it can affect the way you run your own business. Defining the size of a business … Read more
If you are self-employed you can earn up to £1,000 each tax year before paying tax in the UK by taking advantage of the trading income allowance. It’s a tax-free amount you can get paid in income (not profit) without letting HMRC know and avoid registering as self-employed. Once your income goes over £1,000, you can … Read more
When you’re a business owner and want to prosper, you’ll need to consider new ways to develop your business in the coming year. Regardless of the industry you’re in, or whether you have a side hustle or larger company, focus on growth is essential to survive and thrive in your business. Running a self-employed business … Read more
Do you sometimes get confused as to what you call yourself in relation to running your business? Solopeneur? Self-employed? Business owner? Freelancer? Essentially, these titles all represent people who chose to earn an income independently rather than through traditional employment. While the difference between small business owners and the self-employed could be construed as subtle … Read more
Familarise yourself with the most common Self Assessment tax return mistakes & how to avoid them to ensure you file a tax return correctly.