𝗠𝘆𝘀𝗲𝗹𝗳 𝗮𝗻𝗱 𝗺𝘆 𝘀𝘁𝗮𝗳𝗳 𝗵𝗮𝘃𝗲 𝗮𝗹𝗹 𝗱𝗲𝗰𝗶𝗱𝗲𝗱 𝘁𝗵𝗮𝘁 𝘁𝗵𝗲𝘆 𝘀𝗵𝗼𝘂𝗹𝗱 𝗴𝗼 𝘀𝗲𝗹𝗳 𝗲𝗺𝗽𝗹𝗼𝘆𝗲𝗱. I hear this every single day be it in conversation with clients, potential clients or on the facebook forums 🤯Most often the reason is because it works out better financially.. If this is the only reason that a salon owner is choosing to go self employed whilst …
Allowable Business Expenditure For Sole Traders
One sure way to reduce taxable profit and to ensure that you do not overpay tax is to account for all the business expenditure and claim all the allowable tax relief. Before I go on I want to list the three different categories for business costs: Capital Business/Revenue Expense Personal This article looks at number 2 Business /Revenue expense. For …
3 Types of Business Costs and Why They Matter
When people speak about business costs they typically speak about one type of business cost, revenue or business expense. There are in fact 3 different categories of business cost as listed below: 1. Capital 2. Business 3. Personal Sometimes people confuse the three and this can cause errors when completing the business accounts or tax returns. Capital Expense This is …
‘Do you really need an Accountant?’
What an amazing first year in practice! I’ve met with some inspiring beauty businesses, influencers and mentors along the way and a constant topic of many conversations that frequently came up throughout the year had a common theme; Why do businesses need an accountant and how do you select the best accountant for you and your business. After a decade …