I cannot believe that I won Sole Practitioner of the Year, at Xero’s prestigious annual awards. For those of you that are new here, here’s my story… Isle Book-keep was established in April 2021 by me! Over the past 12 months, I have worked tirelessly to grow the business and support as many business owners…
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Are you a small business wondering whether you should be registering for VAT? It is a legal obligation to register for VAT if your turnover is above £85,000. Registering for VAT lets you reclaim VAT on your purchases. If you pay more VAT than you collect from customers, reclaiming VAT makes up the difference. Registering…
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For self-employed business owners in the UK, understanding and calculating income tax correctly is essential. Unlike employees, self-employed individuals need to handle their own tax. In this guide, we’ll help you through the steps for figuring out income tax if you’re self-employed in the UK. What is Income Tax? Income Tax is the money you…
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What is a book-keeper? There’s a number of different taxes small businesses need to pay throughout the year, and book-keeping means you can correctly calculate how much is due. This helps you prepare for the financial year ahead and allows you to think about what your next moves are, whether that’s growing your business or…
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HMRC gives taxpayers more time to submit their Self Assessment tax returns and pay the tax bill. On 6th January 2022, HMRC announced that they are waiving their penalties for submissions after the deadline of 31st January 2022, up until 28th February, to help ease pressure that Covid-19 has put on businesses across the UK.…
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