Whether you are self-employed or are running a business on the side, you will have a personal tax account which you should be checking. However, research finds that nearly half of UK workers don’t check their account.
Readers’ question: I’m looking into starting a small business and I’m still not sure what the main differences between a sole trader and limited company are with regards to tax implications. What is the more tax beneficial method of running a business?
A balance sheet is one of the fundamental pieces of accounting information you will become familiar with as a company owner. It provides a snapshot of your company’s financial situation at a specific time.