As a self-employed or sole trader, you need to set up your accounts and keep track of your income and expense properly. Why? To know how much you are earning and what you owe to the government. Therefore, you need to understand tax, NICs and other things to set up your accounts and to keep …
How to do Accounts for Self Employed? A Basic Guide Read More »
It is a fact that there are many benefits of establishing your own business. That’s where the sole proprietorship, the most basic business structure, comes in. Being your own boss allows you to work from home, make your own decisions, keep all profits, and apply business growth methods. So, if you wish to work as …
How Do I Register as a Sole Trader? – Basic Guide Read More »
To any small business owner or freelancer, venturing into the ever-growing UK business landscape is both a fulfilling and intimidating endeavour. There are so many different opportunities that lie ahead, along with various pitfalls, too. If you’ve been trying to bring your business ideas to life or bring your talent to the table for …
3 Key Accounting Practices Freelancers and Start-Ups Should Use Read More »
Whether you are an employee or you are earning income as a self-employed professional in the UK, you need to pay Income Tax and NI as per the UK tax laws. As an employee, your employer operates PAY As You Earn (PAYE) to work out your tax and NI directly from your wages and sends …
Self Assessment Tax Returns: 7 Dates You Need to Remember For Filing Read More »
“Should I go for Sole Trader or limited company?” You might be looking for the answer, right! No worries. Like you, many people ask this question before a company formation. Though your choice depends on many factors like income, taxes, market trends, customers, and management, etc. In this blog, we’ll discuss the definition and pros …
Sole Trader or limited company: Which is the Best? Read More »