by Georgi Rollings | 27th August 2011 | Accounting, Sole trader, Start ups
Once your business is up and running, or ideally even sooner, you need to start thinking about a budget. If you don’t have a budget, you won’t know whether you have enough available cash to support your business until you start making profits, and until...
by Georgi Rollings | 13th August 2011 | Bookkeeping, Sole trader, Start ups
The one question I get asked the most often by sole traders is what expenses can be charged against business profits for tax purposes. This blog lists some of the most important tax deductible expenses. (please note that the below applies to sole traders, not to...
by Georgi Rollings | 6th August 2011 | Self assessment, Sole trader, Start ups
What taxes you may have to pay as a sole trader? 1. Income tax As a sole trader, your business profits are taxed as trading income. This means you have to complete a Self Assessment tax return every year. You need to register for Self Assessment. This means that HM...