Making Tax Digital
Making Tax Digital for Income Tax: What You Need to Know Before April 2026 If you’re self-employed or running a side hustle, you might have heard the words Making Tax Digital for Income Tax Self Assessment (MTDITSA) floating around. Sounds complicated, right? But don’t worry—it’s not as scary as it sounds. In fact, with the […]
Unlock the Power of Etsy for your Small Business
Unlock the Power of Etsy for your Small Business If you’re a small business owner or side hustler, Etsy can be an incredible platform to showcase your creativity and connect with buyers worldwide. With its user-friendly setup, massive customer base, and marketing tools, Etsy is a fantastic way to boost your sales. But, like any […]
Pricing For Profit: Making It Work For Your Small Business
Pricing for Profit: Making It Work for Your Small Business When you first start your small business, it’s easy to focus on the creative process, building your brand, and getting your product out to customers. But there’s one crucial element that often takes a back seat: profit. Without profit, your business won’t be sustainable, no […]
Why Profit Is Crucial
Why Profit is Crucial for Your Small Business (and How to Balance it with Kindness, Crafting, and Accounts) Running a small business or managing a side hustle can be incredibly rewarding, but it’s also a journey filled with unique challenges. One key element that often gets overlooked amidst the hustle and creativity is the importance […]
6 Reasons to Choose FreeAgent Over Excel or Paper-Based Accounts
6 Reasons to Choose FreeAgent Over Excel or Paper-Based Accounts Are you using Excel or paper-based ledgers for your accounting because they’re familiar, free, and easy to access? While those methods might seem convenient, switching to FreeAgent could save you time and reduce headaches in the long run. Here’s why: 1. Seamless Bank Integration FreeAgent […]
What Are The Changes In Cash Basis Accounting 2023/24
What’s Changed In Cash Basis Accounting in 2024/25? Each year, HMRC introduces updates to tax and accounting regulations, accompanied by budget announcements and annual reforms. However, deciphering these changes amidst complex headlines and jargon can be daunting. In this blog, I’ll break down the key updates for the 2024/25 tax year, making them easy to […]
10 Bookkeeping Mistakes That Small Business Owners Make
10 Bookkeeping Mistakes That Small Business Owners Make You launch a small business, and suddenly you need to become a whizz at bookkeeping, it’s all a bit much really, and it’s no wonder people make mistakes. Well this month, let’s take a look at the 10 biggest bookkeeping mistakes that small business owners make, and […]
Expenses – An Overview for Small Business Owners and Side Hustlers.
In the exciting world of entrepreneurship, every penny counts and smart financial management is key to success. Today, we’re diving into the fundamentals of expenses—the cornerstone of your business finances—and how to navigate them in harmony with HMRC guidelines. 📊 Understanding Business Expenses: What You Need to Know **1. What Counts as an Expense? Business […]
A Guide to Being Self-Employed and Claiming UK Benefits
UK entrepreneurs can receive Universal Credit while self-employed by understanding eligibility and accurately reporting fluctuating monthly earnings. It’s vital to manage the Minimum Income Floor, maintain accurate income and expense records, communicate changes promptly, and know your entitlements. Seeking professional advice and exploring additional support options, like the New Enterprise Allowance, can help balance self-employment with claiming benefits.
Why Competitor Analysis is Important for Small Businesses.
In the dynamic world of small businesses and side hustles, one powerful tool often gets overlooked—the art of competitor analysis. Today, we’re diving into why understanding your competitors is not just a smart move; it’s a strategic necessity for boosting profits. 🕵️ Unlocking the Secrets: Why Competitor Analysis Matters Know Your Playing Field: Competitor analysis […]
Getting Personal, When Products Become Presents
Hey Side Hustle Heroes and Small Business Superstars! In the hustle and bustle of business, there’s a secret ingredient that can truly set your venture apart—the joy of gifting. Whether you’re crafting handmade wonders or curating unique services, incorporating a touch of personalised gifting into your strategy can work wonders. Today, we’re diving into the […]
Why Is Psychology Pricing Important For Small Businesses?
The human mind is a fascinating thing, never more so than when we are looking at things from a business perspective. Our brains are wired in mysterious ways, and this is where the power of psychological pricing comes into play. As a small business owner or a crafty side hustler, understanding how psychological pricing works […]
5 Key Benefits Of Budgeting For a Small Business
I know you have plenty to do as a small business owner or side hustler, plenty to keep you busy and loads of necessary jobs, so why is it so important to complete a budget as well? In the world of small businesses and crafty side hustles, keeping a close eye on your finances can […]
The Trading Allowance for small businesses and sole traders – explained.
The trading allowance for small businesses and sole traders was introduced by HMRC as a way to simplify bookkeeping and tax returns for start-ups and side hustles. But, despite it being simple in theory, it is actually one of the most misunderstood (and misused!) elements of small business and sole trader bookkeeping. No more though, […]
Pricing for Profit: Unleashing the Power of Pricing Models for Small Businesses and Crafty Side Hustles
In the world of small businesses and crafty side hustles, pricing your products or services effectively is crucial to ensuring sustainable growth, income and profitability. Finding the right balance between covering costs, staying competitive, and maximising profit can be a challenge. Luckily, there are several well-known pricing models that can guide you towards pricing for profit. In […]
4 Essential Steps to Completing Bank Reconciliations for UK Small Businesses and Side Hustles
Bank reconciliation is an important process that helps small businesses and side hustlers make sure their financial records are accurate by checking that everything on the business bank statements is reflected in the accounts and picking up any errors that have happened. In this blog post, we’ll explain the four essential steps to successfully completing […]
The 10 Most Important Reasons For Managing Your Small Business Cash Flow
Being a small business owner or sole trader brings many challenges. For most, bookkeeping is one of the hurdles they find hardest to jump over. But it needn’t be hard, and part of great business management involves a particular area of bookkeeping – cash flow. As a solopreneur or small business owner, how much ‘cash’ […]
How To Do Small Business Bookkeeping Year-End Checks
Ah, year-end checks for small businesses – that time of year when we all scramble to make sure everything is in our accounts for the year and we’re not going to get hit with any unexpected tax bills from HMRC. It can be a bit daunting but fear not, I’m here to guide you through […]
How To Set Up Your Small Business Accounts For The New Tax Year
What better time to set up your business accounts the right way than at the beginning of the tax year? A fresh slate, a fresh start and a blank page, means you can do your small business bookkeeping correctly from the beginning. As a small business owner, you must ensure that your accounting is in […]
What Is The Self-Assessment Trading Allowance?
Most people have heard about the trading allowance, and a lot of people think it is helpful. But it is often misunderstood and misused. Here I will unpick it a bit, talk about its positives, its negatives and hopefully clear up any questions you have about it. What is it? The Trading Allowance can seem […]
Bookkeeping And Finance Glossary
Understanding your bookkeeping and accounts can be complicated enough, but if you don’t know the lingo, that certainly doesn’t help! Lots of the terms used aren’t even applicable to cash basis sole traders which can make things even more confusing! I’m going to break some of it down for you here, into easier-to-understand explanations, so […]
What can you outsource to free up your time?
Outsourcing has changed my life in the last part of 2022, I can’t quite believe the impact it has had and I want to share the concept with you. As a small business owner, you are expected to know everything, you are expected to juggle all the tasks and you are expected to be an […]
