The 2020 budget has been long awaited. Delayed due to Brexit shenanigans, scuppered by a general election, complicated by a change of chancellor and then almost entirely wiped out by a global pandemic, this has been a hard one to get across the line. Across the line it is and Rishi Sunak did an admirable job. So what does it all mean for you hard working self employed folk out there? Let’s find out! Continue reading “Budget 2020 – What does it mean for the self employed?”
The 2020/21 tax year in the UK runs from 6th April 2020 to 5th April 2021. Tax returns for this tax year are generally due by 31st January 2022. Here are some of the most common at-a-glance figures you might find useful for the next tax year.
iZettle is one of a growing number of card payment providers who are taking over from traditional merchant services. Being able to handle credit card transactions can transform a small business – it did for me! Today I’m going to take you through how to use iZettle – from initial set-up to configuration of more advanced features such as barcode scanning.
At the time of writing we’re approaching the start of the 2020’s. Physical cash is dead. Everyone wants to pay by credit card or contactless technologies. It’s more professional and it means you no longer need to be an unpaid credit facility for your customers. Money can circulate around your business faster and this can massively promote growth, especially in the early days of self employment. In this article we’re asking the question, is cash finally dead?
There are few things in life more stressful than a tax audit. Just when you think you’re on top of things that little brown envelope comes through the post and inside is an ominous looking letter. Not printer on the usual white paper but instead on a scary looking grey paper. At the top of the letter is says “Check of Self Assessment tax return for the year ended 5 April 2013” (in my case) and it’s accompanied by a leaflet “General information about compliance checks”. You’re being audited by HMRC and it’s time to put your record keeping to the test.
As a small business owner one of the first things you need to sort out is a bank account. With Tide this couldn’t be easier. You can literally have an account up and running in under 5 minutes. But accounts such as this aren’t for everyone. Let’s have a look at some of the pros and cons of a Tide account. Who is it for and who isn’t it for? Is Tide even a bank account?
I worked in the IT industry for a long time, eventually running the cloud computing division for a relatively large IT company. I can tell you with absolute certainty and from first hand experience that we’re sleepwalking in to a situation that will be massively detrimental to small businesses. If your business relies on software of ANY kind, which is essentially everyone, then this article is relevant to you. It’s your duty as a business owner to understand these issues and plan ahead accordingly.
I’m not going to get in to the politics of Brexit – far too busy for that. Like it or not though this is history in the making and it’s very likely to have an impact on your small business. I thought it would be interesting to put together a consolidated timeline of events. An impartial version of the story of Brexit… so far.
The 2019/20 tax year in the UK runs from 6th April 2019 to 5th April 2020. Tax returns for this tax year are generally due by 31st January 2021. Here are some of the most common at-a-glance figures you might find useful for this tax year.
In my view accidental synchronisation of highly confidential information between internet-enabled devices is one of the biggest security loopholes of the decade. The fact that manufacturers can do this, seemingly without consent, is immensely worrying and something that as a business owner you need to take VERY seriously. You might be careful with your passwords and devices, but are your staff?