Top 5 tips for doing it yourself
Understanding your financial position is vitally important in giving your business the best possible chance of success. If you don’t have an accountant then its even more important that you are on top of your numbers. This week I’m therefore going to give...How to help your start up business survive
There are a lot of statistics around about start up business failures. Nobody starting a new business wants theirs to be one of the failures.What can you do to help your start up business survive? I read an interesting article in a business magazine a couple of weeks...Small business accounting – budgeting basics
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...Top 10 tax deductible expenses for sole traders
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...Small business accounting – tax for sole traders
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...Follow Starfish Accounting
