Author: Anita

Tax Advice for Self Employed Cake Makers

Self Employed Cake Maker? Here is our tax advice guide just for you. Whether you are starting out or just want to understand more about allowable expenses, here are some useful tips specifically for Self Employed Cake Makers. Register with HMRC as a Self Employed Cake Maker Whether you bake for events, weddings or childrens parties going self employed is the easiest way to kick start your career as a Self Employed Cake Maker. First of all you must let HMRC know that you are self employed and you can do that online here. Once this process is completed...

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How to Register for Self Employment

Registering for Self Employment if you have NOT Submitted a Personal Tax Return Previously Registering for Self Employment is a fairly straightforward process and you can do it online yourself here. The process can take up to 7 -10 days however and requires an activation code being posted to you, so it is advisable that you register as soon as possible so you are ready in time to submit your first personal tax return by 31 January each year and avoid penalties. The process involves setting you up with an online account with HMRC which you will log into...

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Can I Claim Back Pre Trading Expenses for my Start Up?

Long before you launch your start up and begin making sales, you will probably have begun to incur costs while you try, test and bring your idea to life.  It’s no surprise that you may be wondering whether these early expenses which you probably paid for personally, can be claimed as a business cost so you can claim back the money, reclaim the VAT and get tax relief.  Well, HMRC has issued guidance on this common question. Pre Trading expenses may include things such as: Insurance; Stock; Computers; Business cards; Accounting fees; Websites design and domains. The rules state...

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