Plan to start your own small business or work on your own? Many people decide to work on their own. So, this makes sense. Registering as a sole trader is simple and inexpensive, making it an excellent method to experiment with self-employment.
But it’s not all sunshine and rainbows when you work for yourself. Before you can enjoy the profits you’ve worked hard to earn, you must meet your legal obligations and take care of the paperwork. Some risks come with being a sole proprietor.
In recent years, accounting software for small businesses has seen enormous changes. Thankfully, cloud computing has rendered obsolete the practice of purchasing and installing bookkeeping software on a local computer…. Continue Reading
We are pleased to provide guidance on how to start a business. These include some tips for getting started, like writing a business plan and understanding taxes, benefits, and the law as a new business owner.
Even though it may seem hard, you could become a part of one of the six million small and medium-sized businesses in the UK if you are passionate and work hard.
Learn how to start a business in the UK by reading our step-by-step guide…. Continue Reading
If you establish a small business as a limited liability corporation, your annual profits will be liable to small business Corporation Tax.
Your accountant is your first line of support. However, it is the responsibility of the board of directors to oversee the company’s tax compliance with the support of their accountants.
Your duties as a director of a small business limited liability company include verifying the accuracy of the corporation tax liabilities, filing the corporation tax return (form CT600) with HMRC on time, and making timely payments of the corporation tax owed.
If you are forming a limited liability company for the first time in the United Kingdom, you may find this summary of the corporation tax regulations applicable. Information about the upcoming tax increase in 2023 is also included…. Continue Reading
It might be challenging to adhere to all tax regulations. It is not surprising that some small businesses occasionally experience tax issues. It’s understandable why many businesses worry about tax compliance when you factor in the stress of a routine tax examination, even if you have nothing to hide. It pays to get expert advice and move immediately if you have tax issues or are under investigation for them rather than just hoping for the best.
Entrepreneurship has taken a new turn in recent times. Many people have invested in different business types across several industries in the UK. Most of these strated a new business at home. areas. They have reached the optimal position of success, revenues, and profits. But creating a new business and making it successful is no walk in the park.
There are many areas to consider while planning for a business. From choosing the name to deciding the taxes. You must pay attention to many aspects simultaneously. You can leave one thing behind and focus on another. Every pillar of your business needs a strong foundation. So, learning more about the ways to start a business sounds feasible.
The following guide will introduce some facts you should remember before launching your business…. Continue Reading
For many people on the path to working for themselves, the first thing that they will do is register as a sole trader. Registering as a sole trader is an essential part of the process. However, it is easy, especially with expert help.
Want to know more about how to register as a sole trader? Here is our guide on what you need to know…. Continue Reading
Sole traders and bookkeeping
No matter the size or type of business that you are running, one aspect is certain, you are going to need to think about your books and how to keep on top of them. You may think that the smaller your business, the easier it is to manage your books, this is not always the case.
Running your small business as a sole trader, you need to maintain good financial records. This is for tax purposes and also for you to review your business progress.
Are you not clear where to start as a sole trader? Here are some of the main things that you need to know about sole traders and bookkeeping…. Continue Reading
Have you found yourself thinking about setting up a business lately? Think that you have what it takes to run a successful business? Also, make a success of yourself? If you do, you will need to make sure that you understand the process and all the significant decisions you need to make. Southside Accountants in Wimbledon are pleased to support you.
This guide will help you understand about setting up a business. Further, to support you make to make the right… Continue Reading
Today the Chancellor announced an extension of the Coronavirus Job Retention Scheme, supporting workers who are unable to work due to COVID-19 and will continue to provide 80% of workers wages until October 2020.
… Continue Reading