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

Tide account review: Is a Tide account right for me?

As a small business owner one of the first things you need to sort out is a bank account. With ...
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7 March 2021

Is it time to stop using Twitter as a free support platform?

If there's one thing that the Covid pandemic has highlighted it's that we're far from ready for an 'all online' ...
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28 February 2021

Starling Bank review – 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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12 November 2020

Self employment lockdown grants extended… again!

Yes folks, here we are again. We have a 3rd and 4th lockdown grant. The government have announced the UK ...
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5 November 2020

How do you use an iZettle credit card reader?

Being able to accept credit cards is essential for any modern business. Cash is dead and moving with the times ...
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12 October 2020

Digital Downloads and the EU VAT MOSS Debacle

Do you sell digital products such as downloadable software or electronic training courses? Welcome to a whole new world of ...
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5 October 2020

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

Small Business Basics

How to become 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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Sole Trader vs Limited Company

In the UK there are normally two options for setting up in business. You can either be a self employed ...
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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 2020/2021

CURRENT TAX YEAR: 2020/21

You are working in the tax year covering 6th April 2020 to 5th April 2021.

TAX RETURN YEAR: 2019/20

You should be working on or have submitted your tax return for the tax year covering 6th April 2019 to 5th April 2020.

TAX DEADLINE: 31 Jan 2021

The final deadline for your current tax return is 31 Jan 2021 — this is for the 2019/20 tax year. It doesn’t cover deadlines for any payments on account and also doesn’t cater for any additional factors caused by the Coronavirus outbreak. 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)

Hey folks! Hope you're all well, staying safe and coping in these difficult times! I've just released the second part ...
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Tax and NI Calculator (Members Only)

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

Hey folks - hope you're all well! LOTS of updates to the hourly rates spreadsheet for you. This new version ...
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Become a Member

Get access to member-only downloads and even more exclusive content. From invoice templates through to income trackers and more. You will also be able to post comments on articles and discuss business ideas with other members. How much are you planning on investing in building a successful business? Remember you can cancel your subscription at any time.