Smart business insights
The ultimate MTD Income Tax guide for sole traders
If you are a contractor, self-employed or running your own limited company, MTD, short for ‘Making Tax Digital’ is going to become more and more important in the coming months. In this article, you’ll learn what it is, how it will affect you and how to register for MTD. What is MTD? MTD is HMRC’s […]
How to register as a sole trader
All you need to know before setting up as a sole trader Running a small business and considering whether to register as a sole trader? In this article, you’ll find everything you need to know about setting up as a sole trader, including the pros and cons, costs and more. Sole trader definition Sole traders […]
Do I need an accountant for my limited company?
If you are a director of a limited company you are not legally required to appoint an accountant. However, there are many benefits to doing so. In this article, you will learn how an accountant can help improve your business, what accountants don’t do, costs, and how to choose the right one. Let’s start with […]
5 reasons why you need to separate business from personal expenses
Getting organised when it comes to your finances is an important part of running a successful business. However, many self-employed small business owners fall into the trap of using one current account, which means that their personal and business expenses are mixed in together. Although you are not legally required to open a separate business […]
Tips for choosing a company name
So you’re getting close to choosing a great name for your new company. Remember, this name could represent you and your work for years so it’s worth running it through some checks upfront. Keep it short and memorable The shorter the name the more easily it will be remembered: Don’t choose a name that wouldn’t […]
Top 5 free software for small business owners
There are two things that most small business owners will admit to lacking: time and money. So when it comes to brilliant software options that will make tedious business tasks a breeze, the natural reaction is to groan and ask, “Great, but how much will it cost?” But time-saving tech doesn’t have to be consigned […]
Hate the very thought of accounting?
Here’s a call out to those of you whose days are haunted by an overflowing box of receipts. Consider it a PSA for anyone who quakes when those pesky tax return forms hit the doormat. Some reassurance for the SME owner who puts off doing their books until the very last minute because it just […]
Sole Trader or Limited Company
This is potentially one of the trickiest decisions you’re going to have to make as you embark upon a career of self-employment. There are certainly advantages and disadvantages to either model and once you start researching you’ll soon find yourself lost down a rabbit hole of legislation and regulation. While it is an important decision […]
Do you really need a business account?
Mingling your business and personal finances: it’s a trap that many small business owners fall into, particularly when they’re just starting out. It can seem like such a hassle; searching the high street banks for the best option, the trials of actually opening the account, having to pay banking charges when you’re not even breaking […]