The Nuts and Bolts of Self Employment

There are over 5 million self employed folk in the UK. Small businesses are the backbone of the British economy and represent over 15% of workforce. Whether you’re a window cleaner, a plumber, a shop owner or operate an online business, you’ve taken the brave step off the corporate ladder to be your own boss.

Recent Small Business Articles

My Tax Return for 2021/22 Tax Year

As we approach the deadline for the 2021/22 tax year, let's take a look at what UK tax returns look ...
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23 November 2022

Making Tax Digital for Income Tax – a disaster for small business?

So you know how you currently do your taxes once a year and you have 10 months to fill in ...
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16 November 2022

2022 Mini Budget – What does it mean for your small business?

UK chancellor Kwasi Kwarteng has unveiled what he claims are the biggest tax cuts of a generation. So how will ...
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23 September 2022

Advantages of a limited company

So you've set up in business, you're making money and everything is good. But have you thought about having your ...
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4 May 2022

How do you take remote payments with Zettle?

Did you know you can take remote payments using Zettle? In this article I'm taking a look at the 'Pay-by-Link' ...
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3 April 2020

Starling Bank review for 2022 – are high street banks dead?

I'm a big fan of challenger banks in the UK. The big players have caused enough problems over the years ...
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23 October 2020

Browse all public articles here or member-only content here.

Small Business Basics

Registering as self employed in the UK

Becoming self employed can be the biggest adventure of your life. You'll be your own boss and everything you do ...
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Do you pay Tax on Small Earnings in the UK?

Here's a really commonly asked question, do you pay tax on small earnings in the UK? So for example income ...
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Choosing a Business Name?

It may sound trivial, but selecting a good name for your business is one of the FIRST things you need ...
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Do You Need a Business Bank Account in the UK?

OK, so you've picked your business name. You've sorted your domain names. You've got your social media accounts sorted. Let's ...
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How Much Should I Charge?

One of the most fundamental things you need to get vaguely right before you set up any business is deciding ...
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Limited company or sole trader – what’s the difference?

In the UK there are normally two options for setting up in business. You can either be a limited company ...
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Thinking of becoming self employed? From invoicing customers through to picking a business name – visit this page for your checklist of essential small business knowledge.

About this Site

Welcome to the Small Business Toolbox! I’m Andy Mac and I’ve been self employed for AAAAGES! This is a no-nonsense and completely independent guide to self employment and small business life in the UK. Written by the self employed, for the self employed.

Running a small business can be one of the most exciting experiences of your life. It all starts with being self employed and this site is here to keep you company on your self-made journey.

Important dates for 2022/2023

CURRENT TAX YEAR: 2022/23

You are working in the tax year covering 6th April 2022 to 5th April 2023.

TAX RETURN YEAR: 2021/22

You should have submitted your tax return for the tax year covering 6th April 2021 to 5th April 2022.

TAX DEADLINE: 31 Jan 2023

The final deadline for your current tax return and any tax due is 31 Jan 2023 — this is for the 2021/22 tax year. It doesn’t cover deadlines for any payments on account. For more key dates and figures visit this page.

Recent Member-Only Articles

Profit Explained Spreadsheet (Members Only)

Here's the recent video all about different types of profit. You can download the spreadsheet I used underneath the video ...
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Spreadsheet Example Download (Members Only)

I've just released the second part in my mini-series about learning to use Microsoft Excel. Here's the public vid: Attached ...
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Tax and NI Calculator (Members Only)

Hey everyone! You may have already seen the public video all about National Insurance. Downloads If you want to play ...
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Hourly Rate Calculator (Members Only)

Updated for the 2021/22 tax year and I've also added a new .ods format for those of you who don't ...
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Become a Member

Get access to member-only downloads and other exclusive content. From invoice templates through to income trackers and more. You will also be able to post comments on articles. Remember you can cancel your subscription at any time.