self-employed

How Much Do Self-Employed Get Taxed?

Starting Out  It’s a legal requirement to register with HMRC if your earnings as a self-employed sole trader are more than £1,000 in a tax year.  When you reach that threshold, congratulations! You officially have a business, not a hobby.  HMRC recommends that you let them know as soon as you begin trading so that you …

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4 Ways Accountants Help New Employers

Human resources and accounting are both essential departments, yet they often operate independently. Businesses are coming to realise this needs to change. There’s growing recognition of the role that employees play in the success or failure of a company.   Recruiting and retaining employees   Employing the wrong person for the position available can cost your business time and money.  Accounting …

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Reasons why you should submit your 2020-2021 tax return now

1. Peace of mind Being a tax return early bird will mean you won’t be spending the Christmas period working on your business paperwork to be ready to file your tax return on time.    2. Better budgeting/planning  Filing your self-assessment early will give you more notice of what tax is due. This will help you plan your cash flow by adjusting your finances. If you …

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The team is expanding – we welcome Amber & Reilly

We are really pleased to welcome two new members to our growing team. As a way of introduction, we asked them about what their job roles are and a little bit about life outside work. As a bit of fun, we asked them three quick-fire questions too.  Amber Kelly  In January 2021, Amber joined the team to support the Kidwells Solicitors team in their Finance Department. She provided …

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How to Solve and Manage Cashflow Challenges

The COVID-19 pandemic has had a damaging effect on the UK’s private business sector, with businesses of all sizes facing significant challenges. And cashflow issues have been chief among these. The result of the pandemic on sales and cashflow is a prime barrier to business growth for 2021/2022.  Life can change rapidly. For businesses to stay afloat, the ability to respond and adapt to the unexpected is essential.  The …

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Redundancy Costs Following Furlough

Freedom Day due on 21 June has been postponed for four weeks. Rishi Sunak has rejected pleas from businesses to extend the furlough scheme and says it will begin to phase out from 1 July.  The Furlough Scheme  The scheme was Initially designed as short-term protection for jobs and livelihoods and was extended to run until 30 September 2021.  Be aware that if …

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