Top Tips for First-Time Freelancers

Top Tips for First-Time Freelancers

May 21, 2019 | No Comments

Lots of us dream of being self-employed and taking the plunge to pursue the journey is an exciting moment in a lot of people’s lives. However, it does have a downside. Dealing with regulations and rules surrounding self-employment can be tricky. Whether your business is a single-staffed company or a larger business, it’s vital that you know what you need to do to stay above board. Here are some of the most common questions we get asked and the information you need to answer them: When should I register with HMRC? As soon as your business starts operating and trading
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What You Need To Know About Directors Loan Accounts

What You Need To Know About Directors Loan Accounts

March 14, 2019 | No Comments

Most business owners first learn about Directors Loan Accounts is when they’re sat with their accountants to discuss their Ltd Company year-end accounts. It’s not something that is always discussed. If you’re unsure about them and need a little more information, hopefully, this article will answer some of your questions. Directors Loan Account Simplified Put simply, a Directors Loan Account is a record of how much money your limited company owes you or that you owe your company. It shows the amount left for you to withdraw free of tax from your company, or if you’ll need to reimburse if
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What you should be doing financially if you’re self-employed

What you should be doing financially if you’re self-employed

January 17, 2019 | No Comments

When you’re self-employed it can be a minefield trying to work your finances out. With so much advice, legislation and rules to follow it can be over-whelming. As a team that works with self-employed workers regularly we’ve gained lots of knowledge and have written an article on it for you. in simple terms, no technical jargon and genuinely useful tips that will help you get your finances in order for you and your business. Carry on reading to find out what we say! Register with HMRC as self-employed As a sole trader it’s your responsibility to pay your own income
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Working From Home – What You Need To Know About Tax Relief

Working From Home – What You Need To Know About Tax Relief

December 28, 2018 | No Comments

These days it’s common to work from home at least some of the week. With busy schedules and a lot of places saying goodbye to the standard 9-5, there’s no wonder really. As well as this, lots of companies give their employees the opportunity to work remotely and are much more flexible with location arrangements.  However, this leads to a lot of our clients wondering whether there’s any tax relief for those than work from home to cover the costs of doing so. It can be hard to get your head around the ins and outs of what you can
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Start of the Year Checklist for Business Owners

Start of the Year Checklist for Business Owners

November 15, 2018 | No Comments

As we approach the end of this year, it’s the perfect time to sit and reflect upon your business finances. Whether you’ve struggled or exceeded your expectations, it’s time to start making your next steps to improve next year. What was successful and brought in lots of profit? What didn’t go as well and requires further thought? Thinking about these things allows you to carefully consider your future goals and create realistic targets for your business. Reflection can only get you so far though and there are other steps you can take to ensure success next year. Get your taxes
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Do I Need To Pay Tax On My Hobby/Side Business

Do I Need To Pay Tax On My Hobby/Side Business

October 25, 2018 | No Comments

Is there something that you love doing? Something that you’re good at and enjoy? Chances are your thoughts have turned to making money from it. Why not? Some seriously successful businesses have been born from a simple idea that starts at home. What many people don’t understand is, doing it for the pure fact that you love it is very different to when it becomes a business. There’s lots to consider, from profits, expenses and tax to marketing and admin. If you’re sure that it’s what you want to do, we’ve got some helpful advice for you in this blog
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How Technology Benefits Accountants, and Their Clients!

How Technology Benefits Accountants, and Their Clients!

September 20, 2018 | No Comments

Here at ABC, we’re constantly looking for ways to help our clients and make their lives easier. We also consider ways to make our workload more efficient so that we can give time to tasks that require our expert knowledge and experience. One way that we achieve both of these goals is by using technology that frees up our time from mundane, yet necessary tasks. Automation apps and apps that allow our clients to send us documents, expenses etc digitally are becoming much more popular with many of our clients. There’s no doubt that it makes our and their lives
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The Basics of Bookkeeping and Accounting

The Basics of Bookkeeping and Accounting

May 22, 2015 | No Comments

The new tax year is well underway so now is a good time to check your approach to your record keeping and make sure you are making the right decisions for you and your business. It is not always easy to know what those decisions are and sometimes your self-belief will dip a little. Don’t let the natural peaks and trough of business pull you dramatically in either direction – learn to keep a even path and keep tethering yourself back to it. For that to be possible you need a sound financial core at the heart of your business.
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