If you rent an office or workshop, then the figure you can put through your tax return is fairly straightforward. However, for a lot of small businesses, renting isn’t an option for either financial or practical reasons, so you may find yourself working from home. As your...
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There are times in our life when we want the best. We might want the best photographer for our wedding, buy the best car we can afford, live in the best house in our area, eat the best food and so on. But sometimes we don’t want the best. Sometimes we just want something t...
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Keeping paperwork isn’t everyone’s strong point. And that’s okay. HMRC have realised this, and in an unusual attempt to help you claim some of the more complex expenses, they have created simplified expenses....
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One of the first decisions that you need to make when you decide to start your own business, is whether to be self employed or trade through a Limited Company. Your initial response may be to ask around; see what friends or family do. Maybe even ask on a social media forum. ...
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Just because you have made some money, doesn’t mean you have a business. And just because you’re making a loss or breaking even, doesn’t mean that what you are doing is a hobby. There is a grey and wobbly line that separates the two, but it’s important to know the d...
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What is a payment on account?

December 21, 2017
It’s January and your accountant sits you down and tells you your tax liability and it’s high. Way higher than you expected. Panic begins to set in. This can’t be right you say to yourself. They must have calculated it wrong.Welcome to the world of your first payment o...
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True or False: You won’t have to pay any tax until your income exceeds the personal allowance? This isn’t a trick question by the way. It is true. However, I wanted to start with this question because it is often believed that unless you exceed the personal allowance you...
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If you are self-employed and own a car, the chances are there will be some motor expenses which we can bring into your accounts to reduce your tax bill. Claiming your motor expenses can be a little trickier than most of your other business expenses, as it is highly likely t...
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So, can you claim for that cup of coffee at a networking meeting or not? When you’re an employee, your day can be quite structured, and you may have found that your food and drink expenses would have been restricted to what you decide to have for lunch. As a business owner...
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I’m not naive enough to think that Xero is the right accounting software for everyone. Unfortunately, there is no one size fits all accountancy package. There never will be. However, as someone who works exclusively with Xero, it’s important to me that you only use it if...
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