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What Tax Do I Pay on Dividends? 💸 Your Guide to 2024/25 Rules

Earning money through dividends is a smart move, but knowing how much tax you’ll pay on them is crucial to keeping that cash flowing. The UK government has shaken things up again for the 2024/25 tax year, so let’s break down exactly what you need to know about dividend taxes. 📉 Dividend Allowance Changes Here’s … Read more

10 Top Side Hustle Ideas for 2024 💡

Looking to boost your income on the side in 2024? You’re in good company! More people than ever are diving into side hustles to bring in some extra cash. Whether you’re saving for something big or just want a little financial cushion, here are 10 brilliant side hustles to get you started. 1. Freelance Writing … Read more

Benefits in Kind Explained: What Are They, and How Do They Affect You? 💼

If you’ve heard the term “Benefits in Kind” (BIK) and thought, “Huh?”, don’t worry—you’re not alone! BIK might sound complicated, but it’s simply a fancy way of saying perks you get from your employer that aren’t cold, hard cash. Let’s break it down, Dead Simple Accounting style. 😎 What Exactly Are Benefits in Kind? 🤔 … Read more

🚴‍♂️ Cycle to Work Scheme: Ride into Tax Savings!

The UK’s Cycle to Work Scheme is a win-win for employees and employers, letting you save on bike and accessory costs through salary sacrifice. Here’s how it works: How Does It Work? Employers provide bikes, and employees agree to a salary reduction to cover the costs. This reduces taxable income, cutting down tax and National … Read more

🚨 How Long Should You Keep Accounting Records? 📂

Whether you’re running a limited company, a sole trader, or managing payroll, keeping proper records is crucial for staying compliant with HMRC requirements. Not keeping records could lead to penalties and a lot of stress! Let’s break it down by type of business: Limited Companies 🏢 As a company director, you’re responsible for keeping all … Read more

Statutory Sick Pay When You’re Self Employed

Being self-employed means you won’t have access to Statutory Sick Pay (SSP) when you’re ill. However, you can still apply for financial support through several benefits: 1. Employment and Support Allowance (ESA): You can claim ESA if you’re unable to work due to illness or injury, but don’t have to stop work entirely if you … Read more

5 Steps to Get Your Invoices Paid on Time 💰⏰

Welcome to the world of freelancing and small business ownership! While the freedom to set your own rates and manage your income is fantastic, it often comes with the challenge of chasing unpaid invoices. Don’t worry – we’ve got you covered with our 5-Step Approach to getting paid without damaging client relationships. Step 1: Remember, … Read more