a block saying data breach on a computer keyboard
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Does Your Small Business Need Cyber Breach Insurance?

According to a 2019 report by the Federation of Small Businesses, small businesses fall victim to around 10,000 cyber-attacks every day. Cybercrime is estimated to cost small businesses a staggering £4.5 billion each year, with the average cost of a single attack at £1,300. The latest 2020 Cyber Breach Survey from the government, reported that…

What is a Director’s Loan Account & How Does it Work?
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What is a Director’s Loan Account & How Does it Work?

A director’s loan account (DLA) allows directors, or their family members, to take money out of their company. To qualify as a “director’s loan”, this money must not be a salary, a dividend, or an expense repayment. Also, it must not be money you’ve previously paid into or loaned to the company. How Does A…

How Long Should You Keep Tax Records?
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How Long Should You Keep Tax Records?

If you run a business, whether you’re a freelancer, a self-employed contractor, or the managing director of a limited company or partnership, you need to keep detailed records for tax purposes. These records might include all sales and incomes, all your business expenses, and if you’re self-employed, records of your personal income. If you employ…

Regulations book. Law, rules and regulations HMRC
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When Should I Register for VAT?

If you’re a freelancer, a contractor or a sole trader, you might be wondering when it’s the right time to register for VAT. You probably already know that the annual turnover threshold for registering for VAT is £90,000. But do you know the rules beyond this? For example, do you need to register after you’ve…

How Much is Class 2 National Insurance for Self-Employed?
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How Much is Class 2 National Insurance for Self-Employed?

If you’re new to the self-employed world, you might have some questions about the sort of National Insurance you need to pay. This is your essential guide to your National Insurance obligations as a self-employed freelancer or contractor. We’ll take a look at the difference between Class 2 and Class 4 National Insurance, which should…

When Do I Need to Register My Business?
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When Do I Need to Register My Business?

You have a legal obligation to register your business. But when do you need to do this, and how do you do it? Whether you’re just starting out, or you’ve been running a business for a short while already, this post will show you how to meet the legal requirements. When To Register as Self-Employed…

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Can You Run a Business from Home & How?

It is possible to run a business from home. However, certain sorts of work are unsuited for the home environment. And as your business grows, you’ll eventually have to invest in business premises to accommodate your expanding operations. But if you’re just starting out on the self-employed path, running your business from home might be…