How to register for Self-Assessment as a Sole Trader
As a sole trader it is important to know whether you are paying the right amount of tax on your income. Depending on how much you earn, you may need to register for Self-Assessment. Do I need to register for Self Assessment? Sole Traders are responsible for making sure that they are paying the right […]
10 Clever Ways to Save Money This Summer
For many families, the warmer months come with a spike in expenses. From pricey holidays and days out to keeping the kids entertained, the costs can skyrocket. Not to worry! In this post we’ll be giving you 10 clever tips to help you enjoy your summer with less financial stress. 1. Plan a Staycation Instead […]
11 Must know Accountancy Terms for Self Employed workers
Being self-employed and running your own business as a sole trader comes with a lot of freedom, but also significant responsibility – especially when it comes to properly filing taxes and staying compliant with HMRC. Knowing the following terms included in this guide should help you understand all of the key terminology used when dealing […]
Guide to Anti-Money Laundering
Money Laundering is a major criminal activity in the financial world that can’t be taken lightly. It’s the process of disguising the origins of money obtained through illegal means like fraud, terrorism, drug trafficking etc. Criminals can hide their crimes and make the dirty money appear as if it is clean by “laundering” money acquired […]
How does National Insurance Work for Self-Employed People?
National Insurance (NI) contributions are the taxes paid to build up your entitlement to certain state benefits like the State Pension. If you are a self-employed it’s important to understand how NI works. Failing to pay the proper amount of National Insurance when your self-employed means you could potentially miss out on receiving your full […]
How does Employee Wellbeing impact Workplace Productivity?
Keeping employees healthy and happy is important if you want your business to be productive. As companies try to grow and make more money, they’re realising just how much their workers’ overall wellbeing impacts how well they perform on the job. This means all aspects of an employee’s life – physical health, mental health, emotional […]
How do I claim tax expenses for tools and equipment as a Sole Trader?
As a sole trader, you can deduct a variety of business expenses from your taxes, which helps lower your overall tax bill and increases the take-home profit of your business. One major category of allowable expenses is for tools and equipment related to your trade or business. Claiming tool, technology, vehicle, and equipment expenses properly […]
Common Mobile Phone Scams and How to Avoid Them
In the UK, there has been an increase in mobile phone frauds. Criminals are becoming increasingly inventive in their methods of taking advantage of mobile consumers, including smishing, wangiri fraud, fake support calls, Ai voice calls and more. A lot of these scams try to obtain your financial and personal information or force you to […]
Fiscal Drag Explained
Fiscal drag, also known as bracket creep or stealth tax, refers to a situation where people’s incomes increase along with inflation, but the tax brackets and allowances don’t keep up. This results in taxpayers paying more tax over time even though their real income hasn’t increased. Fiscal drag is common in the UK and has […]
How to Keep on Top of Your Finances in 2024
A new year is the perfect time to get your finances in order. Money stuff can feel boring or overwhelming, but it doesn’t have to be! This post will walk you through the key money moves to focus on step-by-step so you can take control of your cash in 2024. We’ll talk about doing a […]
