5 Top Tax Tips for the Self-Employed

1
5 Top Tax Tips for the Self-Employed
2
(No Transcript)
3
Set up a Business Account
Although its not a strict requirement, setting
up a business account makes it much easier to
follow your income and outgoings.
4
Keep dated records of everything
Its all too easy to chuck away those receipts
without a second thought, but a lot of purchases
can actually be put through as full or partial
business expenditures.
5
Set up a dedicated tax account
We usually suggest that another bank account is
set up to manage your required tax payments. Once
you hit a certain threshold youll be required to
pay the full amount of tax.
6
Keep an eye on any recent changes to tax laws
Unfortunately, the laws on tax are constantly
changing and are easily overlooked. We suggest
checking up on the governments Business and Self
Employment website for updates and changes to the
law.
7
Accountant services are business expenses
Not only can a good accountant save you money,
(enough to pay for their services and then some!)
but theyre also counted as business expenses so
they become even better value for money.
8
http//taxtwerk.com
9
(No Transcript)