As a sole trader, you don’t receive a salary or wage in the traditional sense. So how do you pay yourself? It’s simple: you’re paid based on ‘drawings’ from your business. You can simply draw money from your business account to pay yourself as a sole trader. For this reason, it is recommended that you…

Date posted: August 16, 2019 | Author: | No Comments »

Categories: Accountancy Tips Payroll and Accounting Tips

There are a lot of companies on the internet that say they can claim tax relief money back that you’ve spent on things like work uniform, tools, business travel, professional fees and subscriptions … their fee?? A percentage of your tax back!! Well this is true, however, what most of these companies don’t tell you…

Date posted: July 5, 2019 | Author: | No Comments »

Categories: Accountancy Tips Payroll and Accounting Tips

A P11D is a form which employer’s use to report benefits in kind. These are items or services which an employer or employees receive from the company in addition to their salary. As benefits in kind increase the employers/employee’s salary, they may be subject to National Insurance contributions. It is important to know these contributions…

Date posted: June 28, 2019 | Author: | No Comments »

Categories: Accountancy Tips Payroll and Accounting Tips

You’ve probably heard me talk about the benefits of having numerous bank accounts tonnes of times before and we help many businesses set up this system. However, when we are working with clients who understand these benefits in their business to ensure good cashflow, the thing that should be the easiest to do is usually…

Date posted: June 7, 2019 | Author: | No Comments »

Categories: Accountancy Tips Payroll and Accounting Tips