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Category: Sole Trader

with you on the journey to a brighter future

Limited Company sign

Incorporation…sole trader to Limited Company

Incorporation – from Sole Trader to Limited Company Thinking of changing from a sole trader to a Limited Company ? Why would you do that ? There are a number of ways that businesses can trade – the most common legal structures for businesses are sole-traders, partnerships, Limited Liability Partnerships (LLPs) and Limited Companies. What…
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Meal on a plate

Can I claim for Entertaining clients and staff ?

Entertaining Clients and Staff Can we deduct entertaining expenses? The tax rules on the deductibility of entertaining expenses are harsh and often misunderstood – the fact that the expenditure is incurred for businesses purposes does not make it deductible. Subject to certain limited exceptions, no deduction is allowed for business entertaining and gifts in calculating…
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Construction hat image

Construction Industry Scheme – Don’t ignore the rules

Construction Industry Scheme (CIS) If you work in construction, whether you are a builder, carpenter, plumber, plasterer, painter etc AND you use the services from time to time of other workers in the construction industry you will need to comply with a special set of tax rules collectively known as the Construction Industry Scheme (CIS). The…
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Business for sale sign

Selling your business ? – A short guide

Selling your business – A short guide If you are selling your business, there are some important actions you must take. I have listed below some of the main steps you need to take if closing your business. Please note that this is not an exhaustive list and it is important to check what else may…
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National Insurance Card

What National Insurance do Self Employed Pay ?

National Insurance and the Self Employed The self-employed pay two classes of National Insurance contributions – Class 2 and Class 4. Class 2 National Insurance contributions Class 2 contributions are weekly flat rate contributions which provide the mechanism by which the self-employed build up their entitlement to the state pension and certain contributory benefits. By…
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Woman sat at laptop

Working from Home ?

Working from Home If you are self employed then you already know what a necessary pain it is to keep a record of all your expenses. If you spend any of your time working from home, and who doesn’t, even if it is to maintain your records, then you would probably expect to be able…
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HMRC and the Staff Christmas party

HMRC and the staff Christmas Party It’s the time of year that businesses are planning the staff Christmas party for staff, their partners/spouses, clients and possible new clients. The cost of a staff party or other annual entertainment is generally allowed as a deduction for tax purposes but you have to meet the criteria set…
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HMRC have you in their sights !

HMRC have you in their sights ! “CONNECT”….is the sophisticated HMRC computer uses information gleaned from other sources and algorithms to determine the likely accuracy of a taxpayers Tax Return. HMRC tax investigations are on the increase. Tax investigations are time consuming, stressful and costly. They can last for many months and during this time…
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mobile phone

Challenger Banks

Challenger Banks – An alternative to the High Street There’s a lot of buzz around the new breed of banks called Challenger Banks but what exactly are they and how can the help you in business ? This, in a nutshell, is what a challenger bank is.  It’s a bank that’s far smaller than a…
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