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Top tips for newly self employed

There are many things to consider when you become self employed.  Here are some of the most important things that we think you need to consider. 

Self Assessment Tax Returns

Every self employed person is required to complete a yearly self assessment tax return, this can sometimes be a daunting task with a strict deadline to meet. 

Outsourcing

When you become self employed, you quickly become all aspects of a business; HR, accounting, Marketing, Sales, logistics and everything else that is required to run a successful business.  Undoubtedly, this is time consuming, and you might find yourself spending more time than you would ideally like to spend on administrative tasks.  Outsourcing is the best way to ensure that these tasks get done, whilst freeing your time to do what you do best. 

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Tax Saving Tips

Everyone wants to save tax.  There are some complicated tax saving schemes available, but some of the ways to save tax are simple.  By going through your financial affairs the least you will find is that your financial affairs are in order, or you might be surprised to discover that you are missing out on cash that at present is being kept by HMRC.  Here are a few simple ways that you can save tax. 

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Protecting Yourself Online

With the increase in cloud accounting, and other cloud based software, it is important that you make sure that you are keeping important information safe online.  By following a few simple online behaviours, you will help to keep you and your business safer online and at less risk of online fraud.

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What is Annual Investment Allowance?

The Annual Investment Allowance (AIA) was introduced in 2008.  It was introduced to encourage business investment in the economy by providing an incentive for businesses to invest in plant or machinery.  It is also expected to help suppliers and manufacturers by increasing the orders they are receiving.  It can offer 100% allowance on qualifying capital expenditure in the year of purchase.   

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