Recent content by fengirl2

You need to submit your self assessment and pay the tax due by 31 Jan 2011. The SA will include your accounts details for the year ended 31 July 2010.

You need to register with HMRC as soon as you start to trade. Class 2 NIC will be payable monthly and tax is paid on all profits over £5475 a year. You do not register for VAT until your turnover exceeds £70,000 in any 12 mth period.

You need to register with HMRC as soon as you start to trade. Class 2 NIC will be payable monthly and tax is paid on all profits over £5475 a year. You do not register for VAT until your turnover exceeds £70,000 in any 12 mth period.

A simple system is to set up an analised cash book on Excel spreadsheets. Have one sheet for each month and one for income and one for expenditure each month. Analise the expenditure headings to stock, travel, postage, whatever you need. You will need to reconcile these to your bank statements...