All you need to know about Capital Allowances for the Self Employed
As a self-employed person in the UK, it’s important to understand how you can reduce your tax bill through capital allowances. Capital allowances are a form of tax relief that allows businesses to claim back the cost of certain types of capital assets, including equipment, machinery, and vehicles.
In this post, I have summarised the main information you should know if you are considering purchasing an asset for your business. Although this article is well-researched, you shouldn’t consider it as financial advice: do seek professional advice should you require specific support to understand how to claim this particular type of tax relief.
The best free bank accounts for small businesses in the UK: my personal recommendations
As a small business owner, knowing what the best free bank accounts are that fit your needs is crucial to your financial success. The good news is, there are a number of great free bank accounts available in the UK that do their job just fine, and you can save upwards of £150 per year in bank fees.
In this article, we’ll take a look at what I consider to be the top four free bank accounts for small businesses in the UK, and I’ll share what fees they charge, and the pros and cons for each business bank account.
Everything you need to know about UK high interest savings accounts
If you’ve been hanging out on this blog for a while, you will know how much I harp on the importance of saving money. In these times of economic doom where recession and inflation are running the show, we need to be clever about how we spend our income, and even use the increasing interest rates to our advantage. This is where high interest savings accounts come into play: this is the perfect time to make your money earn more money, and earn passive income through interest.
Pensions for freelancers: how to choose a pension provider for the self-employed in the UK
If you are a freelancer, wrapping your head around pensions for sole traders can be a daunting prospect. Unlike traditional employees, you don’t have access to employer-sponsored pension plans and other retirement benefits. However, it’s never too early or too late to start planning for your future.
Fortunately, there are several pension options available for self-employed individuals that can help you save for retirement and ensure a financially stable future. In this blog post, we’ll explore everything you need to know about pensions for the self-employed, including how pensions work for freelancers, and what to consider when choosing a pension plan.
Bookkeeping Basics for Freelancers and Small Businesses in the UK: Tips on How to Manage Your Finances
If you’re considering freelancing, it’s important to understand the basics of bookkeeping before you take the plunge. Freelancing can be a great way to work on projects you’re passionate about, be your own boss, and have more control over your work schedule. However, it also requires a lot of self-discipline, as well as the ability to manage your finances and learn about financial record-keeping. Read on to learn the basics of bookkeeping and make sure you’re prepared for the challenges that come with it.
How much should you have in an emergency fund? And what are the benefits of having a financial safety net? Let’s find out.
Alright, buckle up and get ready for a wild ride because we’re talking about the benefits of starting an emergency fund and how to do it. And trust me, you’re going to want to stick around because hopefully it will motivate you to build up your financial safety net.
This article is all about how to save money on food.
As the cost of living continues to rise, many people are looking for ways to save money on everyday expenses, including food. Whether you’re a student on a tight budget, a family looking to cut costs, or simply trying to be more mindful about your spending, there are several effective strategies you can use to reduce your food expenses without sacrificing quality or taste.
How much should you charge as a freelancer? Let’s take a look at how to price your services.
Freelancing has become an increasingly popular way of working in recent years, and it’s not hard to see why. Freelancers have the freedom to choose their own hours, work from anywhere, and choose the clients they want to work with. However, pricing your services can be a daunting task if you are a freelancer, particularly if you are just starting out. In this article, we’ll explore some tips and tricks that freelancers can use to price their services effectively.
The best money saving strategies to save money fast and build financial resilience
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The beginning of the year is the ideal time to reflect on what your money saving strategies are and how to achieve your savings goals. As we face an ongoing recession and cost of living crisis, we should all think about how to save money fast, and save enough money to protect us from economic hardships.
Here are 5 money saving strategies for you to consider to get yourself through this year and build a financially resilient lifestyle.
Everything you need to know about preparing for your Self Assessment
If you start earning money as a freelancer, there is a specific process to follow to tell the government what your income was, and pay taxes on it.
This post will summarise everything you need to know about your Self Assessment as a self-employed freelancer, and I will share my best advice on how to make the tax return submission as stress-free as possible.