Do you have a combined annual turnover of less than £150,000 and are a sole trader or in a partnership? Then you can use cash basis accounting, rather than traditional accounting. All partners will need to submit a Self Assessment tax return for their own share of the profits. And a nominated partner https://www.wikipedia.org/ will have to submit a partnership Self Assessment for the business. If you’re thinking of taking the plunge, you need to think about your business structure, budgeting and paying your own tax. While these tips will help launch your business and get you set to grow, there’s never a perfect plan.
Our goal is to help owner managers and entrepreneurs to start, run, grow and succeed in business, helping turn your business idea into a profitable business. Creating a marketing planthat goes beyond your launch is essential to building a clientele by continually getting the word … Read MoreRead More »