21st April 2020
When you set up as a sole trader, you may also decide to set up a work space at home. As long as this work space […]
When you set up as a sole trader, you may also decide to set up a work space at home. As long as this work space is used ‘wholly and exclusively’ for business purposes (ie your kids don’t use it for homework/it isn’t the kitchen table/dining table/coffee table), you can claim for this as an expense in your business. If you are on the cash basis, you can claim this as an allowable expense, if you are using the traditional accounting method, you can claim it as a capital allowance.
14th April 2020
When you first sign up as a client with Seed Accounting Solutions, we will ensure you are fully set up on our portal, Senta. We use […]
14th April 2020
As a sole trader, you may think you can include all your accountancy fees as a tax deductible expense however this is incorrect. You are allowed […]
9th April 2020
You must file a Self Assessment tax return with HMRC every year if you are self employed (and earn more than £1,000) or you are a […]
9th April 2020
The easiest way is to break down the two terms: Self Employment means you are responsible for declaring your taxes, managing your business, and deciding what […]
1st July 2019
Sole Trader: Most of our sole traders use Coconut. this is a fantastic tool that can connect to both personal and business bank accounts, enable you […]
1st July 2019
VAT: As Xero is MTD-compliant, all our clients who need to file VAT returns are set up in the necessary software. We can help get this […]
1st July 2019
As a sole trader, you cannot put charitable contributions through the business, although you should log any Gift Aid donations in your self assessment. You may […]
1st July 2019
Sole Trader: Sole traders can claim ‘use of home as office’ under HMRC’s simplified expenses system. This equates to £10 per month for 25-50 hours worked […]