Jury service is unpaid, but there is some compensation. If you are required to attend court proceedings, the courts provide lunch and refreshments. In addition, you can claim travel expenses if working alone. For example, if you live outside London, it costs £60 per day to travel there and back. However, employers must pay you…
The United Kingdom introduced a new tax system in April 2017. This included changes to the way people who are living abroad report their earnings. If you receive money from sources outside the UK, it could mean that you have to fill out a tax return. You should do this even if you don’t qualify…
If you want to dissolve a partnership, it can be a complex process. There are many different reasons why partnerships might end, including disagreements over the running of the business, differences regarding ownership, or simply because one partner wants out. If you decide to dissolve your partnership, you must follow certain steps to ensure that…
What is self-employment? The term “self-employed” describes someone who works for themselves rather than for another person or organization. This includes independent contractors, freelancers, consultants, sole proprietorships, partnerships, corporations, trusts, estates, and many others. A common misconception about self-employment is that it involves working for yourself out of your home. Although there are some businesses…
A sole trader is someone who runs his or her own business, whereas a limited company is owned by multiple individuals who work together under one roof. This article explains what each type of entity entails and how you might choose to set up your business. A sole trader is someone who runs his/her own…
Register for Corporation Tax when you do business or restart a dormant one. You must keep accounting records and prepare a tax return. If you don’t pay Corporation Tax or report it late, you could face penalties or interest charges. Keep accounting records and prepare a Corporation Tax return. You must file a Corporation Tax…
Why do I need a business strategy and what is its purpose? A business plan is a document that outlines your ideas, vision and strategy for running your business. You’ll use your business plan to answer questions like “How are we different from our competitors?”, “Where does our product come from?”, “Who are our customers?”….
However, does crowdfunding actually work? Crowdfunding is not just about fundraising. There are many other things you can do with it, such as building awareness, getting feedback, and even marketing. In fact, there are many different types of crowdfunding’s, including micro crowdfunding, social media crowdfunding, peer-to-peer lending, equity crowdfunding, and token crowd sales. The most…
Submit your monthly tax returns If you don’t file your tax return each month, HM Revenue & Customs (HMRC) will fine you up to £3,000 per month. If you’re late filing, HMRC will charge interest on the amount owed. You’ll also be charged penalties and fines. There’s no excuse for missing out on filing your…
Mental health issues, employment, and the workplace The number of people suffering from mental health issues is rising rapidly. In fact, it is predicted that one in four people will suffer from some form of mental disorder during their lifetime. This figure includes depression, anxiety disorders, eating disorders, obsessive compulsive disorder, bipolar disorder, schizophrenia, personality…