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Many freelancers (self-employed individuals or independent contractors) often have questions about earnings, deductions, and required forms. Staying organised and maintaining good records throughout the year can significantly reduce stress when filing taxes. Follow this…
SFIO CRACHOshutterstockMany businesses—whether large or small—depend on orderliness in their warehouses. To prevent organisational errors that could lead to significant business issues, companies should use inventory management software. These programs help businesses keep track of their inventory.…
SFIO CRACHOshutterstockWithdrawing from company assets for personal use is common for business owners, as they need income. This process, known as an owner’s draw, can be complex in terms of accounting and tax law. What should you consider when withdrawing money, what types of withdrawals exist, and is…
NDAB CreativityshutterstockAccounting is a complex task and especially entrepreneurs who are just starting their projects can use all the help they can get. With the right bookkeeping software, founders, freelancers, and SMEs have tools at their disposal that make the work easier and less error-prone. What…
Gustavo FrazaoshutterstockNomen est omen: The name of a company should be well thought out. A good company name that accurately reflects the characteristics of the business, products, or services can be invaluable—especially if it is well-known and positively perceived within the target audience. However,…
Regulations around individuals’ capacity to contract look at who may act in legal transactions and who may not or only to a limited extent. In this way, persons unable to contract are to be protected from unknowingly damaging themselves or others. Whether a person has the…
DjomasshutterstockRegistering a new employee is a straightforward process. After verifying their right to work in the UK, you need to collect their information and notify HMRC. This dedicated article outlines the necessary steps and includes a quick guide so you can easily see all the steps that…
Billion PhotosshutterstockIf you want to use your company assets to strengthen company funds from your personal account, that isn’t a problem initially. However, you have to know how to record owner’s draws and contributions correctly. It is important that these transactions do not affect the company’s…
Wondering where to find your UTR number? Whether you’re filing your Self-Assessment tax return, making payments to HMRC, or dealing with tax-related inquiries, this guide will help you understand the importance of your Unique Taxpayer Reference (UTR). We explain where to find…
marventshutterstockIf several people or entities want to operate a commercial business together, their first step is finding a suitable legal form for their business. An interesting, common solution is a limited partnership. This is comprised of general partners, with unlimited liability, and…