YOVPA
Your Own Virtual PA
Well this little cutie says it all! If you worked this weekend because you were behind with your bookkeeping, rather than enjoying time with family and friend, give me a call, I can give you back your work:life balance and what's even better is that the cost is tax deductable!
A Lovely New Client
I took on a new customer this week who was tentatively stepping into the world of self-employment whilst also working a main job.
She was obviously worried about the amount of extra tax she would have to pay as her fledgling business was doing well so we sat down and worked out all the expenses that she thought she could attribute to the business and then I went over all the other expenses that she could claim along, with partial household expenses.
We found that rather than making a lot of money she was just 'breaking even'. She was very thankful for this insight as it gave her relief that she was not going to be left with a big tax bill but also allowed her to bring on more clients which she was reluctant to do due to tax implications.
So it just goes to show that a Bookkeeper can really help with getting a handle on your self-assessment expenses and our charges are tax deductible too!
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May 26 HMRC Updates
Did you know that from April 26 you can now claim 55p per mile on your mileage claims [up to 10,000 miles], the first increase in 15 years and well overdue imo. This is applicable from 6th April 26 so remember to update your expense forms.
Another major change to be implemented soon is the detail required for Director Loans for the small items that you claim for. How often have you gone to a retailer for office items and came out with a snack or drink on the same receipt?. In future, all these items will need to be accounted for, you can't just claim for the whole receipt. Yet another admin step for the overworked self-employed but also another good reason to get yourself a bookkeeper!
