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Small Business Toolbox
Великобритания
Добавлен 23 авг 2018
I'm Andy Mac and I've run businesses in the UK for over 25 years. I'm not an accountant. I'm not a solicitor. I'm in the same boat as you and I've been doing this for a long time. On this channel I'd like to share with you some of the stuff I've learned over the years. Self employment can be hard but you're not alone. Hope you enjoy the content! Andy Mac :-)
Please note that I do not give accountancy advice. Don't make business decisions based on the views of a random bloke on the internet. Seek help from an actual professional... and then question everything they tell you.
All content on this channel is exclusively owned by MacLellan Creative Limited. All rights reserved. MacLellan Creative Limited, Registered in England & Wales, Company number 12667542. Please get in touch via smallbusinesstoolbox.uk
Please note that I do not give accountancy advice. Don't make business decisions based on the views of a random bloke on the internet. Seek help from an actual professional... and then question everything they tell you.
All content on this channel is exclusively owned by MacLellan Creative Limited. All rights reserved. MacLellan Creative Limited, Registered in England & Wales, Company number 12667542. Please get in touch via smallbusinesstoolbox.uk
How to be self employed - UK BUSINESS STARTUP CHECKLIST!
Do you want to know how to become self employed in the UK? I’ve written a business start-up checklist to point you in the right direction. This may not be comprehensive but it’s what I’d be looking at if I was setting up a new business.
Free business startup checklist:
smallbusinesstoolbox.uk/starting-business/business-startup-checklist/
Need a small business bank account? Use code BUSINESSTOOLBOX to make use of their offer. This is an affiliate code - more information and full terms on this review article:
smallbusinesstoolbox.uk/tide-bank-review/
Help support this channel by joining as a member: smallbusinesstoolbox.uk
Follow me on X / Twitter: gosforthandy
Support me on Patreon: w...
Free business startup checklist:
smallbusinesstoolbox.uk/starting-business/business-startup-checklist/
Need a small business bank account? Use code BUSINESSTOOLBOX to make use of their offer. This is an affiliate code - more information and full terms on this review article:
smallbusinesstoolbox.uk/tide-bank-review/
Help support this channel by joining as a member: smallbusinesstoolbox.uk
Follow me on X / Twitter: gosforthandy
Support me on Patreon: w...
Просмотров: 1 092
Видео
What are purchase orders ACTUALLY used for?
Просмотров 6623 месяца назад
What is a purchase order? A purchase order, also known as a PO, is a fundamental business concept you need to understand. Most definitions of what a purchase order is are either a bit out of date or simply wrong. In this video I’ll explain how purchase orders are used in the real world. Join my website and download the sample purchase order logging spreadsheet from here (Business Management sec...
Tide business account review - how does it all work in 2024?
Просмотров 6 тыс.5 месяцев назад
It’s time to take another look at opening a Tide business bank account. What’s involved in opening an account, how long does it take and what does a Tide business account look like? In this video I’ll give you a full guided tour of everything you can do with an account in 2024. If you think a Tide business account is right for you please could you do me a massive favour and use my link? As a th...
Company car tax in the UK? How the P11D process actually works for electric cars
Просмотров 2,8 тыс.7 месяцев назад
There can be some serious tax benefits of owning an electric car through your business. Benefit in Kind rates are only 2% at the moment and the entire value of the vehicle can potentially be off-set against corporation tax. The P11D process is a bit weird though. This is how it worked for me! Information on this subject from HMRC is sketchy at best. Here's one of the only official resources I c...
How I do my self assessment tax return in 2023
Просмотров 23 тыс.7 месяцев назад
It’s that time of year again! Let’s take a look at a UK Self Assessment tax return for the 2022/23 tax year, due Jan 2024. Something has actually changed too! What is cash basis? ruclips.net/video/2YzqhJtG7yY/видео.html What is turnover? ruclips.net/video/gJeOUW_C_YQ/видео.html Help support this channel: smallbusinesstoolbox.uk Follow me on X / Twitter: gosforthandy Support on Patre...
Wincher review - easy search engine SEO RANK TRACKING!
Просмотров 9418 месяцев назад
Wincher is a search engine rank tracking tool. It’s really useful to see how your website is ranking over time for particular pages and how it ranks compared to your competitors. It integrates with Yoast and WordPress and is a great tool as part of your SEO search engine optimisation strategy. Please use this affiliate link if you want to give Wincher a try: www.wincher.com?via=businesstoolbox ...
Developing a data backup strategy for your business
Просмотров 9489 месяцев назад
How is your business data backed up? Do you have a proper backup strategy for your business-critical data? Are you storing everything on the cloud and hoping for the best? Today we’re looking at data backup strategies. Download the spreadsheet I’m using here: smallbusinesstoolbox.uk/all-downloads/ Want to give Acronis cloud backup a try? (affiliate link, see below) www.tkqlhce.com/click-1007647...
The YouTube Invalid Traffic 'bug'
Просмотров 32 тыс.9 месяцев назад
So I’ve been hit with the RUclips invalid traffic bug and my channel is decimated. Channel revenue has dropped by 70% and my entire AdSense account is at risk. This bug seems to be hitting thousands of great content creators and RUclips don’t seem to care. Also send some love to these creators who have the same problems: Tasia Custode: ruclips.net/video/_t2ZGmOsfaI/видео.html Homestead Horseman...
How to use Acronis Cyber Protect Home Office
Просмотров 7 тыс.10 месяцев назад
Today I’m going to show you how I backup my business critical data using Acronis cloud backup software - Acronis Cyber Protect Home Office. This is NOT a complete backup strategy for your business but it’s a good start for home office users and sole traders. If you’d like to try Acronis for yourself please could you use this affiliate link - thank you! rebrand.ly/sbt-acronis-home-office How to ...
What is a CASHFLOW forecast?
Просмотров 1 тыс.10 месяцев назад
By using a cashflow forecast template you can work out if your UK small business idea has legs. We’ve had a lot of small business ideas over the years. Some have been good, some have been bad. Knowing when to walk away is key to developing a successful small business. It’s absolutely essential that you do your homework and know your numbers! One way of doing this is by using a cashflow forecast...
What is a business EXIT PLAN??
Просмотров 1,9 тыс.Год назад
A long time ago, when I set up one of my first limited companies, a good friend of mine gave me a piece of advice that has always stood by me. Always have an exit plan! In today’s video I’ll explain why this is so important, the implications of not having one and a few thoughts as to how you can put the wheels in motion to sort this out. Full article with more links and help here: smallbusiness...
How do you add extra sections to your UK tax return?
Просмотров 1,5 тыс.Год назад
How do you add extra sections to your UK self assessment tax return? In this video I’ll explain how it works and what the codes are for the different tax return sections. Found my videos useful? Your direct support is really appreciated! Join as a member: smallbusinesstoolbox.uk/member/ Patreon: www.patreon.com/smallbusinesstoolbox Here's some affiliate links to more products I use or would con...
Making Tax Digital for Income Tax - bad news for small business!
Просмотров 3,4 тыс.Год назад
Making Tax Digital for Income Tax Self Assessment (MTD ITSA) will be hitting the UK in 2026. In this video we’ll look at what MTD ITSA is all about and the potential catastrophic impact on the small business community. Please share this article: smallbusinesstoolbox.uk/making-tax-digital-income-tax/ Why does the tax year run from 6th April? ruclips.net/video/d1yBHdLPwyg/видео.html What is Turno...
Basic TAX RECORD KEEPING when you’re self employed
Просмотров 16 тыс.Год назад
When you’re self employed in the UK you’re obliged to keep business accounting records. Today we’re looking at what information I log to record income, business expenses, running a vehicle through the business and using our home as an office. As per usual, I am not an accountant. Always use a good accountant. Join as a member and download the spreadsheet from this video here: smallbusinesstoolb...
How do you pay your self assessment tax bill?
Просмотров 4,3 тыс.Год назад
How do you pay your self assessment tax bill?
How do you fill in a self assessment tax return as a Company Director?
Просмотров 4,5 тыс.Год назад
How do you fill in a self assessment tax return as a Company Director?
How I fill in a UK tax return for the 2021/22 tax year
Просмотров 38 тыс.Год назад
How I fill in a UK tax return for the 2021/22 tax year
What is RECONCILIATION and why is it important?
Просмотров 4,7 тыс.Год назад
What is RECONCILIATION and why is it important?
YouTube AdSense - New Tax Requirements!
Просмотров 12 тыс.3 года назад
RUclips AdSense - New Tax Requirements!
Budget 2021 - How does it impact the self employed?
Просмотров 2,4 тыс.3 года назад
Budget 2021 - How does it impact the self employed?
My business goals for 2021... and how did I do in 2020??
Просмотров 2,9 тыс.3 года назад
My business goals for 2021... and how did I do in 2020??
My home office desk set-up in 2020 - a few tips if you're working from home!
Просмотров 3,7 тыс.3 года назад
My home office desk set-up in 2020 - a few tips if you're working from home!
My experience of Starling Bank - full overview for small business
Просмотров 34 тыс.3 года назад
My experience of Starling Bank - full overview for small business
UK lockdown - 3rd SEISS self employment grant!
Просмотров 11 тыс.3 года назад
UK lockdown - 3rd SEISS self employment grant!
UK tax thresholds you need to know - from £1,000 to £1,000,000
Просмотров 9 тыс.3 года назад
UK tax thresholds you need to know - from £1,000 to £1,000,000
Should we raise the UK VAT threshold from £85k?
Просмотров 1,8 тыс.3 года назад
Should we raise the UK VAT threshold from £85k?
Deleting Google Analytics - How do I archive my data?
Просмотров 1,3 тыс.3 года назад
Deleting Google Analytics - How do I archive my data?
Self Employed Income Support Grant - 2nd application! (part 2)
Просмотров 2,4 тыс.3 года назад
Self Employed Income Support Grant - 2nd application! (part 2)
Thank you!
Simply ignore them, they can’t do shit!
Worst company worst service boycott tide bank
Fake worst service this company will shutdown one day because it's a fake poor service and fake products
Receently been made redundent and your videos have been a great help!
10/10 !
Revolut 🎉🎉
For paper receipts you could scan them in as pdf and on Google drive have a 2024/25 tax year folder for them named sequentially as per your Expenses column BUT ALSO then add a "link" to that Google drive directory and past the link into the cell so it's immediately referenced if needed. Same for e-receipts but without the faff of needed them to be scanned in :)
Is it possible to buy one, even if you are not in to business?
This is an excellent video. Thank you so much for this. Great presentation and eye opener. 👍🏾👍🏾
I watched this over a year ago at first and now I went self employed start of the year I’ve come back to it and gone ‘what the fuck am I doing’🤣 as a gas engineer I can pretty easily get a job for 40k a year with cards in, but always wanted to work for myself since I was a kid, and this make me realise I don’t charge enough and sometimes I feel like I over charge! Very useful! Thanks
4.33% on savings?! Wow, that is good!
What if you have multiple revenue streams? Should you have multiple bank accounts? Or do you use tags?
What do you recommend for a sole trader with an online shop plus a holiday property rental? I've just been using Nationwide for now but have been told that if they find out you've used your personal account for business, they close your account and charge you for the business fees you would have paid.
Hi I’m a cis site joiner and my 20% tax is taken from my contractor is my turnover before tax or after Thanks
Would it be possible to reduce mntly spending limits?
Thank you for the video. I didn't get the difference between domain and business name? Please
So website first or domain first? Please
Yes im having a headache how to register my new business: domain first or website first? 😢
I have 5 spreadsheets Bank Purchases Mileage Sales Totals. They get filled in every day and any receipts are placed in a ring binder folder. At the end of the month all figures get transferred to a totals spreadsheet. Materials bought online where the PDF invoice is downloaded. Then finally at the end of the month all files and folders are backed up using FreeFileSync twice on USB sticks and put in a safe place. (just incase your computer fails or is stolen) Seeing someone with a carrier bag of invoices is funny to see so 10 minutes a day and it's done. PS I staple my small receipts on to a sheet of paper
Thanks ❤❤❤
I cannot even break 100 views. YT keeps knocking me down removing views. They have taken away over a hundred now. I am a very very small channel. I have done nothing wrong and there is no way any bots even know I exist. I will never make it to 1000. Never. This is deliberate so they do not have to pay people. You can bet YT is profiting off this.
How can you do a refund?
So helpful thank u
Can you help me? When you're on the Tide app after you've created your account, it says "Business details required" @6:05 it then guides you through steps filling out details and it asks you for your UTR number. I can't find mine? Do I have to register for Self Assessment to get one? Or do I wait for my LTD company UTR to arrive (if it does) and use that? Or Self Assessment? 🤷🏻♂
For the UTR number you have to register for self assessment.
Yabba dabba dolike
Did You solved the problem?
Nope. 😪
Very helpful. Very informative! Thank you.
1,95% now
Thanks a lot , very nicely explained .
I am confused, is that final figure at the end the amount of money you will get back from your tax return or how much they expect you to pay? I work self employed and my tax is paid for me however I was under assumption I received money back at the end of the tax year? Is that due to overpaid tax?
Very helpful. I'll be going back through this video as step by step! Many many thanks 😊 from sterling shutters and blinds in Harrogate! Thank you SBT ❤
Great video, very helpful, thanks
Very helpful video
Can you pay the tax owed all at once - the £4765.55 rather then 1st payment 2nd payment? So you don't have ot bother for the whole year it's all done and dusted? Also how do you pay it - do they deduct via your bank account or buy your debit card??
If self employed does the personal allowance get taken off automatically ?thanks
another year another £ ..... any chance you can do a new video for 23-24 CIS as they have changed the site and if i do almost the same as this it doesnt let me add my money
I have been saying this for years this should be made mandatory in the curriculum for all schools we have been neglected for far to long by the education system get this sorted now people should have a vote on this and have it herd in parliament
Why does the return say that you owe money once completed?
Hello. I've been binging your videos ahead of starting freelance work on the side of my regular job. Thank you for all the information! Could you please do a video about handling tax when you are both self-employed and an employee? Do I carry on paying tax through my PAYE number for my regular employment and just self-assess on my self-employed income? Or do I have to declare both incomes when I do the self-assessment? If so, do I run the risk of being taxed on the regular employee income twice? Would I need a new tax code for my regular job? Also, you've mentioned in more than one video not setting up as self-employed until earnings start in that capacity, but what about if I have an initial set-up cost I hope to be able to claim back eventually, but which would occur before I start earning? When HMRC asks when the business started, I read mixed information on whether this means when I start getting paid, when I commence the work for the client or simply when I commence any kind of activities related to the business. I'm sorry that got a bit long!
Hi Kellie! It should all balance out when you do your SA return. Figures from employment should automatically appear on the employment section of the tax return, but double check against your P60. Tax should then get calculated on your overall totals. The <£1,000 registration thing is more aimed at side hustles who never plan on making over £1,000pa. But defo for more serious businesses it's worth getting registered ASAP to get the losses set in stone. Number of ways this can be handled so generally best checking with an accountant as you may be able to introduce other items to the business that were pre-owned well before the business started. Effectively selling personally owned items to the business at a fair market value etc. As I say, accountants can be invaluable here. 👍
Can you show again but whith over 50K how and what need tick in pages? Thanks
What if you don’t actually have a business and your self employed still what would I put
Agree with everything you say, but in addition to registering for self assessment I found I also needed to tell specifically tell HMRC that I was self-employed as registering just for self assessment doesn’t allow you to get credits / pay class 2 NI.
👍👍
this time really worked. thank you!
I really like your videos as you explain everything well. Wish you had time to make more but I suppose you have businesses to run.
Thank you!!
Hello, I'm thinking of going self employed with hobbies and part time jobs I have. I'm confused about why your spreadsheet is January to December when the tax year is April to April. Why isn't your spreadsheet April to April to match to tax year?
It's just a never endling list of transactions so the start date doesn't really matter. The tax year is indicated by the final column. 👍
Is that 30,000 before or after tax for total income
Thanks for video!
❤thanks
Easy to understanding