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Self Employed Accounting and the Self Assessment Tax Return

Accounting Software for the self employed businessman in the UK does not have to be complex. There are different requirements to double entry bookkeeping that anyone self employed may fulfil and Accounting Software available to satisfy those requirements. The most important requirement of any Accounting Software purchased by a self employed businessman being the automated production of the Self Assessment tax return.

Self Employed Accounting and the Self Assessment Tax Return

No Frills Limited Liability Company Formation

Registration of a limited company in the UK is not complex. Four documents are required to create a limited liability company. Documents which are available quite cheaply including the main company registration forms which are free

Starting a limited liability company in the UK requires the submission to Company House forms, 10 and 12, plus a memorandum and articles of association to complete the company formation and registration.

No Frills Limited Liability Company Formation

Using Tax Accounting Software To Produce Self employed Tax Returns

Tax accounting software has its basics in each of the three elements of the title. Accounting being the production of the financial accounts in a template format suitable for the tax system. Tax and tax software denotes the inclusion of the tax rules with software being a description of the fact that the process is automated.

Using Tax Accounting Software To Produce Self employed Tax Returns

Tax Accounting Software and Company Corporation Tax Return

Tax accounting software for a private limited company in the UK includes the prime elements of using accounting software to produce the required quarterly vat returns and annual net profit with the tax software automating the calculation of the tax liability and producing an automated corporation tax return.

Tax Accounting Software and Company Corporation Tax Return

Registering and Advantages Filing Self Assessment Tax Return Online

Every self employed business is required to register the business with HMRC within three months of commencing trading. Following registration HMRC issue the unique tax payers reference and annually send out the self assessment tax return. The self assessment paper tax return is submitted by October while filing the Inland Revenue self assessment tax return online requires further registration.

Registering and Advantages Filing Self Assessment Tax Return Online

Subsistence Travel Expenses Tax Allowances and Car Mileage Rates

Business journeys incur travelling expenses that can be deducted from net taxable profit as tax allowances for car mileage rates, meal allowances and travel and subsistence allowance expenses. Subsistence allowance expenses broadly include additional travel expenses necessarily incurred but not for example fares or car allowances.

Subsistence Travel Expenses Tax Allowances and Car Mileage Rates

Business Accounting Software Can Improve Financial Performance

A talented entrepreneur may have all the skills in the world but only achieves the desired level of financial performance by paying acute attention to the profitability of the business. Small business accounting software is a vital management tool to broaden the management function to include accounting and finance and improve business performance.

Business Accounting Software Can Improve Financial Performance

Bookkeeping Software And Bookkeeping Services

All small businesses have to choose between keeping manual records of financial transactions and the benefits, advantages and disadvantages of utilising bookkeeping software and or employing bookkeeping services for this purpose. The correct choice will vary from business to business but a choice should be made to achieve the best financial performance.

Bookkeeping Software And Bookkeeping Services

Taxi Drivers Miss Out on Capital Tax Allowances

Taxi drivers who employ a taxi accountant to prepare their taxi accounts may or may not be at risk of under claiming capital tax allowances. Many drivers who prepare their own taxi driver accounts may not have the expert capital tax allowance knowledge to minimise their tax liability.

Taxi Drivers Miss Out on Capital Tax Allowances

Basic Sole Trader Last Year Figures Brought Forward

This article explains how you record last year's figures in this current year's Basic Sole Trader package

Basic Sole Trader Last Year Figures Brought Forward

Basic Sole Trader Income Tax Calculation

This article explains the use of the Income Tax sheet within the Basic Sole Trader package.

Basic Sole Trader Income Tax Calculation

Capital Allowances

This article explains how Capital Allowances are calculated within the accounts.

Capital Allowances

Introducing Share Capital

This article explains how to introduce Share Capital in your accounts.

Introducing Share Capital

Which Expenses are Non Allowable for Corporation Tax Relief?

This article helps explain Non Allowable Expenses for Corporation Tax

Which Expenses are Non Allowable for Corporation Tax Relief?

How Do I Input a Transaction for Corporation Tax Refunds

This article explains how to input a transaction for Corporation Tax Refunds

How Do I Input a Transaction for Corporation Tax Refunds

How Do I Work out the Cost of a Sale for Net Profit?

This article explains how to work out the Cost of Sale for Net Profit

How Do I Work out the Cost of a Sale for Net Profit?

How Do I Process Directors Loans & Dividends?

This article gives information on Directors Loans & Dividends

How Do I Process Directors Loans & Dividends?

How Do I Use A Double Entry Bookkeeping Accounts System?

This article explains Double Entry Bookkeeping Accounts

How Do I Use A Double Entry Bookkeeping Accounts System?

Starting a new year with Company Accounts

The process required to start a new year with a fresh set of accounts

Starting a new year with Company Accounts

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