Are you aware of the implications of providing a mobile phone to your employee or reimbursing them for their mobile phone costs? It could cost you, and them, more than you think. For instance: …
Bookkeeping is defined as "the recording of all financial transactions". Sounds simple but if that was the case why is bookkeeping a career with qualifications ranging from Level 2 to Level 4? The financial transactions of a sole trader's business to those of a huge organisation vary enormously but whatever level of transactions there are bookkeeping principles to follow. A sole trader business can be just as complex as a limited company business, maybe more so in some cases - we certainly deal with sole traders who have high value businesses and large numbers of transactions as well as limited companies who have very …
As a sole trader or self-employed person you won't have to pay tax on your earnings until 31 January the year after your first accounting period ends. Finding out how much tax you will have to pay when you first tax return is submitted can come as a bit of a shock especially if you haven't saved for your tax bill during the year. Do you understand how Self-Assessment tax works? …
If you employ someone in your business or in your home as a carer and they are not self-employed or paid through an agency you have certain responsibilities. Here are seven of the steps you need to take to meet your responsibilities: …
