By popular demand, here’s a full list of all downloadable example spreadsheets that may be useful for your small business. This includes an income and expense tracker, invoice templates, quote templates, pro forma template, hourly rate calculator and more. This content is for members only. Visit the site and log in/register to read. The post All Downloadable Spreadsheets (Members Only) appeared first on Small Business Toolbox ..read more

As we approach the deadline for the 2021/22 tax year, let’s take a look at what UK tax returns look like in 2022. Before I start, remember I’m not an accountant and am not qualified in any way to give you tax or legal advice. Always get a good accountant! In the video below I’m completing a sample tax return in 2022 for the 2021/22 tax year to show you what the system looks like. I’m basing it on a single self employment. In my example the business made £30,000 turnover, had £10,000 expenses and therefore made £20,000 profit. You can watch the full video here: Watch this video on YouTube.Co ..read more

It’s taken a global pandemic and a potential world war but the UK is finally scrapping the legacy and utterly bizarre National Insurance thresholds. From July 2022 our income tax and NI thresholds will align. Our weird NI thresholds In the world of self employment we’ve always had an awkward National Insurance (NI) threshold to deal with. Income tax is relatively simple – a personal allowance of £12,570 from the 2021/22 tax year onwards and this is likely to remain untouched for some time. National Insurance on the other hand has always been a bit… weird. Ranging from a Class 2 Small Profits ..read more

There’s good news and bad news. Income tax rates generally aren’t increasing. However as inflation steadily rises tax breaks such as your Personal Allowance are now locked in until 2026. Coupled with forthcoming rises in national insurance, corporation tax and dividend rates the net impact for small business owners is a substantial and quite sneaky tax increase over the next few years. The 2022/23 tax year in the UK runs from 6th April 2022 to 5th April 2023. Tax returns for this tax year are generally due by 31st January 2024. Here are some of the most common at-a-glance figures you might f ..read more

The 2021/22 tax year in the UK runs from 6th April 2021 to 5th April 2022. Tax returns for this tax year are generally due by 31st January 2023. Here are some of the most common at-a-glance figures you might find useful for the tax year. 2021/22 Tax Rates for Self Employed in the UK Tax Year:  6th April 2021 to 5th April 2022 Tax Return Deadline:  31st January 2023 Personal Allowance:  £12,570 Basic Tax Rate:  20% (£12,571-£50,270) Higher Tax Rate:  40% (£50,271-£150,000) Additional Tax Rate: 45% (over £150,000) Personal Savings Allowance:  £1,000 (visit this p ..read more

Tide have identified a pain point of most small businesses and that’s cash flow management. Cashflow Insights from Tide is a free service to help resolve this problem. So what is it and what does it do? Tide are once again a step ahead of the traditional high street banks. They’ve launched a new free service called Cashflow Insights. Cash flow is one of the most important indicators of business performance. Get it wrong and you’re in deep trouble. Get it right and your business can flourish. Unfortunately for most SMEs cash flow management isn’t high on the priority list. Day-to-day business ..read more

Before you configure this plugin please make sure you’ve read the important accompanying information on this page. If you spot any errors in this article please get in touch. If you’ve got any questions you can post them below by becoming a member. Don’t forget to subscribe on YouTube and please join my mailing list. E-mail address: Leave this field empty if you're human: Back to contents The post Configuration of Yoast SEO for WordPress appeared first on Small Business Toolbox ..read more

Before you configure this plugin please make sure you’ve read the important accompanying information on this page. If you spot any errors in this article please get in touch. If you’ve got any questions you can post them below by becoming a member. Don’t forget to subscribe on YouTube and please join my mailing list. E-mail address: Leave this field empty if you're human: Back to contents The post How to set up WPS Hide Login appeared first on Small Business Toolbox ..read more

Before you configure this plugin please make sure you’ve read the important accompanying information on this page. If you spot any errors in this article please get in touch. If you’ve got any questions you can post them below by becoming a member. Don’t forget to subscribe on YouTube and please join my mailing list. E-mail address: Leave this field empty if you're human: Back to contents The post Configuring WPForms Lite for WordPress appeared first on Small Business Toolbox ..read more

Yes folks, here we are again. We have a 3rd and 4th lockdown grant. The government have announced the UK will be in lockdown from the 5th Nov to 2nd Dec 2020. This will be devastating for a lot of small businesses who were just getting back on their feet. The good news is there’s more money available through the self employment income support scheme grant. The bad news is they will only cover 55% of your profits at best versus 80% for furloughed employees. Oh, and a lot of businesses won’t qualify for them at all. Are self employed folk really 30% less important than employees? Let’s take a l ..read more