This is the book I wished I had when I first started working for myself with big dreams of starting my own accountancy firm. For anyone who is dreaming of starting an accountancy practice, especially if they are considering doing it on a part-time basis around school runs, this book provides the most useful information I have ever read and is very inspiring.
February turned into an ‘Accounting for Bloggers’ month on my site. As a blogger, that might be the last thing you want to do. In reality, apart from accountants, who really wants to think about accounts? Still, if you have decided to monetise your blog and it is creeping over the £1,000 mark, you may need to start considering your tax position.
If you missed February’s Accounting for Bloggers month, don’t worry. This post will summarise everything that was covered in the four-part series.
Finally, you have become the overnight sensation you have been dreaming of, after all the years of slogging on your blog! Your blog pops up on Facebook, Twitter and Instagram and you have millions of followers liking it and the money is now pouring in.
The last blog looked at some of the more common allowable expenses. You can click on this link if you missed it. In this blog I will look at some of the ways you can record your income and expenses.
Most people are familiar with spreadsheets and this is possibly the easiest and most cost effective way to do it. You can use the first page to record the income, the second page for expenses and if you wish, although not necessary, a third page as a summary.
Accounting for bloggers is a four part series starting with a post on allowable expenses.
Whether you have just started blogging or you have been blogging for a while, one of the things that you need to think about is money. This four part series will look into how you can start getting organised and be prepared for any tax liabilities.
National Insurance Class 2 will be abolished from April 2019. So with only a year left and if you have been self employed at any point in the year, now is a good time to make voluntary payments via Class 2 in order to top up any shortfalls, if for example, you do not have your full 35 years of state pension. This works out to be cheaper than paying the voluntary Class 3 NI.
Here is a recap on all the different National Insurance and what they mean:
National Insurance Class 1 is the national insurance due by employed workers as long as certain conditions are met. It is paid by the employer through the payroll. Read about this in more detail in my previous post here:-
Class 2 is the national insurance paid by self employed workers. You do not have to pay Class 2 if you earn less than £6,205. This is however, going to be abolished from April 2019 so you only have a short time to make any voluntary contributions to make up any gaps in your NI history. You can read more about Class 2 below:
My top five favourite accountants on Instagram all happen to be women. It wasn’t a conscious decision to find just women but it does seem that there are more women out there starting their own business. Maybe its the social media effect or maybe when you are so into something that is all you see.
Lately, while on Instagram, I’ve been finding quite a few accountants. My initial thought was how is this even possible? What kind of picture would you put up? Another P&L account. Maybe lots of numbers. Or Oooh! Look! The balance sheet balances!
However, these accountants are pretty normal and still somehow manage to make accounts look good on Instagram. Sometimes, I wish I was starting my own accountancy practice now as it seems like a really exciting period to be a woman and become a sole practitioner. Anyway, here’s my list of the top five (female) accountants that I have found so far: