The lifestyle of an entrepreneur is often exciting and never lacking a dull moment. Whether you’re lining up your next client or travelling to and networking at a conference, an entrepreneur often appears to run off of a bottomless source of energy.
However, one task that can quickly kill your momentum is filing your taxes. Entrepreneurs can typically rack up a lot of expense, travelling for business meetings or working in cafes and shared office spaces, and keeping on top of your paperwork can be a nightmare. If you’re careful with your receipts you can claw back a considerable amount through expenses that may have a big impact on the scaling up of your business.
Why Use Dead Simple Accounting
We currently work with lots of fresh and seasoned entrepreneurs, including digital nomads, who trust us to sort the boring stuff so they can focus on what’s important: their business. At Dead Simple Accounting we’re true to our name, and can guide you through the entire process, whether that’s setting up as a sole trader or as a company, or ready to file your taxes with HMRC. .
If you’re looking to leverage entrepreneurs’ relief, that’s also something we can advise on. Now known as Business Asset Disposal Relief, it allows you to less capital gains tax when you sell or dispose of all or part of your business.
But don’t just take our word for it, we’ll leave the talking to our five-star ratings across Google and Facebook.
At Dead Simple Accounting we charge just £275 including VAT for self-assessment tax returns, and can take you through the entire process.
If you’re interested in other services, such as setting up a company or payroll, head over to our quote page for a free and instant estimate.
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What Expenses can Entrepreneurs Claim?
Our team of qualified accountants can guide you through all the different expenses that you can include on the tax return, so that you can save tax. We’ve listed below some of the most common expenses associated with entrepreneurs:
- Such as a laptop
- Phone/SIM costs
- If used for business
- Such as mobile broadband
- If it’s for business purposes, such as meeting a client
- Office space & Coworking memberships
- Accountant fees
- Interest and finance charges
- Legal fees
- Recruitment fees
- Subscriptions to professional bodies
- Training and courses
- Wages and staff costs
There may be entrepreneur focussed government initiatives that you can also apply for, which we can assist with. It’s vital that you keep on top of your paperwork, keeping a hold of receipts and invoices and snapping pictures of them as a backup.
Need Some Further Help?
If you have further questions or require assistance concerning accountancy for entrepreneurs, be sure to get in touch with us as soon as you can!
These days there’s an abundance of tools and resources at your disposal, software that handles your invoices and expenses, to mobile based banks that cut the boring paperwork.
We only work with the best of the best, and have partnered with several big names to offer you various goodies when signing up.