CheapAccounting.co.uk Blog

Exit Planning for Contractors, Freelancers and Small Business Owners

There are many reasons why you could be thinking about finishing your career as a contractor. Maybe you are moving back into full-time employment or perhaps you are thinking of retiring; whatever the reason it is worth planning your exit carefully. Closing the company Of course, at some point the affairs of the company will need to be brought up to date (accounts and tax returns), surplus funds in the company will need extracting and the company, along with its bank account(s), closed down. What path this takes will depend on your circumstances and how you have planned your exit.
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OFFER – FREE ACCOUNTING in return for

I am looking for two freelancers or small business owners (self employed or running their own limited company) who are NOT yet using any Cloud Accounting system. In return for doing your accounts for one year end FREE OF CHARGE you will write up your experiences of your journey into Cloud Accounting for the CheapAccounting.co.uk blog. Of course, I will be on hand to help you along the way as well as to assist with the blog writing. You will use one of two Cloud Accounting systems (Xero or FreeAgent). This offer is open to UK based freelancers or small
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Start to trade – what does that mean?

When you start a business you must register with HMRC. Generally HMRC say that you have to register your business when you start to trade although they do not provide a strict definition of what ...
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When does my hobby become a business?

Isn't it great when your hobby and something that you love doing starts to earn you some money. But with the profit comes a stack of officialdom that running a business entails. So how do ...

We do not charge for things that you do not need

From time to time we’re asked by potential new clients to give them a quote for everything they have included in their current Accountant’s fee; they send us a list of all the things that they currently pay for. This presents us with a challenge as our fees only include a price for the things that a client would need us to do. Why pay for things you don’t need? We don’t charge for things that are produced automatically from a system like straight forward VAT returns or for things that the client can do themselves such as the Confirmation
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10 Essential Qualities of a Successful Business Owner

Enthusiasm and drive Running a business is not easy. There are no instant results. Success comes from hard work, long ...
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10 things you should know about self employed tax and accounting

Being self employed on your own is also known as being a sole trader. If you were self employed with ...
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Being a business owner is not a nine-to-five job

The Government gave a great big kick up the bum to all business owners yesterday; self employed and owner operated ...
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When does my hobby become a business?

Isn't it great when your hobby and something that you love doing starts to earn you some money. But with ...
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The best summary of self employment

Thank you to Mary Cummings of http://www.workyourway.co.uk/ for pointing me to this brilliant video on Self Employment by Benedict Dellot ...
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