Completing a Self Assessment tax return can be a daunting prospect. That’s why we’ve put together the ultimate guide to completing your Self Assessment. Here’s the outline of what we’ll cover in this guide: Registering with HMRC for Self Assessment. The first step to is to make sure you need to submit a return, and … Read more
Agency Workers Regulations aim to combat discrimination of people who work for employment agencies, by stating that agency workers should be no less favourably treated in pay and working time than their full-time counterparts, who do the same work. Similar to IR35, the guidance is designed to ensure fair treatment of contractors and freelancers, and ensure that … Read more
Our freelance accounting glossary has handy definitions of accounting and bookkeeping jargon – from accruals and aged creditors, to retained profit and written down value. If you’re new to freelancing or running a business, you may hear a lot of words and phrases that are unfamiliar to you. Our freelance accounting glossary will explain some … Read more
The process of applying for mortgages for freelancers and the self-employed can be challenging. Especially as mortgage lending criteria has not kept up with the changes in freelance work and self employment. The freelance community we spoke to have often found that a lot of mortgage lenders make it hard for freelancers to get a … Read more
The Balance Sheet is defined as a document designed to illustrate the state of your business finances at a specific moment in time, and demonstrate its financial stability to Bank Managers and the like. A Balance Sheet will outline your current liabilities alongside your assets to provide a clear indication of the current value of … Read more
Completing a Self Assessment tax return can be a daunting prospect. That’s why we’ve put together the ultimate guide to completing your Self Assessment. Here’s the outline of what we’ll cover in this guide: Registering with HMRC for Self Assessment. The first step to is to make sure you need to submit a return, and … Read more
The Self Assessment Tax Estimator will help you to plan for the tax you may have to pay on your personal income including from sole trade income, salary, dividends and other sources. Please note that the Crunch Personal Tax Estimator will only provide an estimate of your tax liability. It’s designed to show you the tax-efficient amount of … Read more
https://www.sheffield.ac.uk/polopoly_fs/1.429180!/file/Working.as.self.employed.or.freelance.pdf https://www.ed.ac.uk/files/imports/fileManager/AGCAS%20Self-employment.pdf Self-employment Why do it? The definition of self-employment is ‘starting and running a successful business or social enterprise’. Many famous companies began this way as visionary men and women patented an invention, created a company or registered a brand. Although an excellent business idea plays a key role in the ultimate success of … Read more
Crunch accounting is an online accountancy service – with a difference. Where as with a pure online accounting software, which requires you to input all of your income and outgoings and relying on yourself to make sure you’re reporting in the correct way, Crunch has a team of accountants waiting at the end of the … Read more
If you’re self-employed, your business will have various running costs. You can deduct some of these costs to work out your taxable profit as long as they’re allowable expenses. ExampleYour turnover is £40,000, and you claim £10,000 in allowable expenses. You only pay tax on the remaining £30,000 – known as your taxable profit. Allowable … Read more