What is a sole trader? A small business guide
WEBBeing in business on your own, if you don’t set up a limited company at Companies House to run your business through, then by definition, you’re a sole trader. When you’re a sole trader, you are self-employed, and legally, you and your business are one and the same. We’ll explore what that means in a bit more detail shortly.
Mileage allowance in the UK – what is it and how does it work?
WEBHowever, the recommended rate is 45p per mile (HMRC, 2023). It is also important to note that a rate higher than 45p per mile will be rates on excess. So, if your employee drives 70 miles you can figure out their mileage allowance using this equation: 70 x 0.45 = 31.5.
What are business rates? A guide for small businesses
WEBBusiness rates are one of the UK’s oldest taxes; its origins can be traced back to the Poor Law of 1601. Business rates can be roughly defined as the tax paid for the occupation of a non-domestic property. They approximately correspond to 50 per cent of the annual rent of the property. Business rates are based on a specific value, known as ...
how to make sure they’re done properly - Small Business UK
WEBIt is the same with regard to T&Cs. They must be brought to the customer’s attention before anything is signed, and the only way to do this is to ensure that they are clear and available to be read and, in addition, they should be highlighted. It may be as simple as creating a tick box for the customer to check before signing anything.
Pros and cons of employee ownership trusts (EOTs)
WEBTax-free bonuses for employees. Companies co-owned by EOTs are also able to pay tax-free cash bonuses to their employees of up to £3,600 per employee per year. Higher staff retention – and attracting staff. If staff have a greater personal investment in the business, they’ll stick around for longer.
7 advantages of being a sole trader - Small Business UK
WEBIPSE’s director of policy, Andy Chamberlain, told Small Business: “If you operate as a sole trader, it’s a bit more straightforward than a limited company.You work and get paid as an individual – which is the way most freelancers work. You still have to pay tax on your profits but there are fewer compliance burdens than those that work via a limited company.
How to start a freelance career in the UK – a beginner’s guide
WEBFind out what your potential client is seeking to achieve from the project in question. Tailor your CV to demonstrate how you can add value to the project. Always detail the measurable outcomes of your previous work and how they have benefitted your employers. Recall your learnings from previous jobs.
Purchase orders explained for a small business
WEBA purchase order will usually comprise the following: Purchase Order number (more usually referred to as a ‘PO number’) Shipping date. Billing address. Shipping address. Requested terms. A list of products with quantities and price. Though it may be another piece of dreaded paperwork, a purchase order is instrumental in tracking expenditures.
Best UK small business accounting software – review guide
WEBJan 11, 2024 · Today, Clear Books provides clear and simple cloud accounting and payroll software to thousands of small businesses in the UK. Pros: Cons: Pricing: Small business: £6.50 per month for first three months then £13 a month. Medium business: £14 per monthfor first three months then £28 a month.
The 6 best VOIP providers for small businesses
WEBUnlimited calling (with desk phone): £15.50 per user per month. Targeted at startups and growing businesses, bOnline is the VoIP system that claims to give small businesses enterprise-level communication services at an affordable cost. Starting from £7 per user per month, it’s certainly one of the cheapest UK VoIP providers.