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.
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.
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 ...
Advice and Ideas for UK Small Businesses and SMEs
WEBSmallBusiness.co.uk provides advice and useful guides to UK sole traders and small businesses. Our goal is to help owner managers and entrepreneurs to start, run, grow and succeed in business, helping turn your business idea into a profitable business.
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.
What is the VAT threshold? - Small Business UK
WEBJun 17, 2024 · From April 1 2024, it will increase to £90,000, as announced by Chancellor, Jeremy Hunt. VAT thresholds for previous years are as follows: 2014–2015 – £81,000. 2015–2016 – £82,000. 2016–2018 – £83,000. 2019-2024 – £85,000. Once your business’s turnover reaches the VAT threshold, you have 30 days to register for VAT with HMRC.
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.
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.
How to become a sole trader - Small Business UK
WEBThe first step to becoming a sole trader is to choose a name. Make sure you have chosen a name that’s not being used by any other business. If you do then they could stop you using it. With this in mind, it is worth considering registering your name as a trade mark to prevent other people from using it. You can trade under your own name, or ...
List of small business associations and networking groups
WEBDescription: Small Business Networking groups organised via the meetup.com platform. UK-based meetups include: Entrepreneurs in London – Networking 4 Business – BOSS CEOs London – Pathway2Grow – Master Mind of Entrepreneurs – Manchester Small Business start-up support group – and many more.
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