What is a sole trader? A small business guide
Being in business on your own, if you don’t set up a limited company at Companies House to run your business through, then by definition, you’re a sole trader. When you’re a sole trader, you are self-employed, and legally, you and your business are one and the same. We’ll explore what that means in a bit more detail shortly.
The 6 best VOIP providers for small businesses
Unlimited calling (with desk phone): £15.50 per user per month. Targeted at startups and growing businesses, bOnline is the VoIP system that claims to give small businesses enterprise-level communication services at an affordable cost. Starting from £7 per user per month, it’s certainly one of the cheapest UK VoIP providers.
What are business rates? A guide for small businesses
Business rates are one of the UK’s oldest taxes; its origins can be traced back to the Poor Law of 1601. Business rates can be roughly defined as the tax paid for the occupation of a non-domestic property. They approximately correspond to 50 per cent of the annual rent of the property. Business rates are based on a specific value, known as ...
Mileage allowance in the UK – what is it and how does it work?
However, the recommended rate is 45p per mile (HMRC, 2023). It is also important to note that a rate higher than 45p per mile will be rates on excess. So, if your employee drives 70 miles you can figure out their mileage allowance using this equation: 70 x 0.45 = 31.5.
6 examples of sole traders - Small Business UK
Examples of sole traders – Dog Walker. Heavy petting: in 2015 average earnings for a reasonably busy dog walker were £26,000 a year. A total of 3.2 million households in the UK have acquired a pet in roughly the first year of the pandemic, according to …
Best UK small business accounting software – review guide
Jan 11, 2024 · Today, Clear Books provides clear and simple cloud accounting and payroll software to thousands of small businesses in the UK. Pros: Cons: Pricing: Small business: £6.50 per month for first three months then £13 a month. Medium business: £14 per monthfor first three months then £28 a month.
Tax advantages of a limited company versus sole trader - Small …
Limited companies must pay corporation tax. As of April 4, 2024 it’s 25 per cent, up from 19 per cent previously (the figure remains unchanged for the 2024/25 tax year). This applies to businesses with profits of £250,000 or more and applies to all profits. A small profit rate is in place for companies with profits of £50,000 or less.
What is the best cloud storage for UK small business?
To tempt you, small business cloud storage providers offer free space in the cloud. Google Drive offer up to 15GB of online storage space for free. If you think that 1GB is equivalent to roughly 7,000 Word pages. At 15GB, that’s the equivalent of 105,000 Word pages. Dropbox by comparison offers only 2GB of space for free.
7 advantages of being a sole trader - Small Business UK
IPSE’s director of policy, Andy Chamberlain, told Small Business: “If you operate as a sole trader, it’s a bit more straightforward than a limited company.You work and get paid as an individual – which is the way most freelancers work. You still have to pay tax on your profits but there are fewer compliance burdens than those that work via a limited company.
A guide to Statutory Sick Pay for employers - Small Business UK
In order to qualify for SSP, employees must: Have an employment contract. Have worked under that contract. Have been sick for four or more days in a row. Earn an average of at least £123 per week (for 2022/23 tax year) Have notified you of their sickness within your stipulated time limit. In some circumstances an employee may be ineligible for ...