Full Circle

From being an employee to self-employed to employee again

When I started blogging around ten years ago, I started off all doey eyed and excited of all the possibilities that lay ahead of me. I was going to work for myself as an accountant and fit it in while I have my kids. It took me ages to get the practising certificate and by the time I got it I felt like the application process itself felt like I had worked hard to earn it. 

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Accounting for Bloggers – free download

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.

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Accounting for Bloggers – Part 2

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. 

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Accounting for Bloggers – Part 1

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.

Continue reading “Accounting for Bloggers – Part 1”

My Top 5 Accountants on Instagram

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:

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15 simple steps to create a filing system for your accounts paperwork

These 15 simple steps to create a filing system for your accounts paperwork are aimed at self employed sole traders. You need to keep paperwork for at least 10 years in case you ever get an enquiry from HMRC. Being organised can help your accountant turnover the work faster and also resolve HMRC enquires faster, if you were ever in that situation. Continue reading “15 simple steps to create a filing system for your accounts paperwork”

The Wealth Chef

The Wealth Chef by Ann Wilson

This is a practical book showing you how to get your personal finances sorted.  It’s not a wishy-washy book saying here are all your options, now go and find something that works for you. The book has a step by step guide like following a recipe to get out of debt and start saving. Continue reading “The Wealth Chef”

Claiming just expenses on your tax return

Recently I was asked if they could do a tax return if they didn’t have any sales and just put expenses through. My initial thought was why go through the whole hassle of doing a tax return and the stress of meeting the self-assessment deadline if you don’t have to? With a new business, you can go back up to 7 years to claim your expenses and if you earn less than £1000, you can receive trading allowance before you even need to declare your income.

Technically though you could claim just expenses. There are some restrictions in that you would need to prove to HMRC your business is genuine. You need to do at least 10 hours a week with a view to making a profit. Continue reading “Claiming just expenses on your tax return”