Monthly Bookkeeping Table

If you prefer handling your own bookkeeping without using an app or software, consider downloading our BOOKKEEPING TABLE. It’s designed to help you efficiently track your income and expenses throughout the tax year. We always recommend cost-effective solutions for bookkeeping and accounting to our clients. If you’re inclined towards manual paperwork and wish to manage some tasks yourself, that’s perfectly acceptable. It could also reduce your accountancy expenses. Once you’ve filled out the monthly bookkeeping table, simply email it to us. We’ll then review and assist you in preparing your Self Assessment Tax Return.

Expenses Guidance for Limited Companies

Managing your expenses is essential for successful business operations. It’s vital to retain receipts for all expenditures as they serve as evidence of the transactions. Understanding which expenses to account for can vary by profession. This document provides guidance on what to track throughout the tax year. Remember, expenses are subtracted from your income, which will then decrease your tax liability. Download and use this document as a reference. If anything remains unclear, or if certain expenses don’t seem applicable to your field, seek advice from a professional accountant.

Expenses Guide for Self Employed

Reducing your tax bill is possible through deducting expenses, so it’s beneficial to retain all receipts. This guide outlines expenses commonly associated with self-employed businesses, though some might not be relevant to your particular profession. If you’re uncertain about any details, reach out to our office, and we’ll assist you in identifying which expenses can be tax-deductible for you.

Tax and NI Calculation

We have prepared this calculation table as a guide. You will find here a Personal Tax and National Insurance you can expect in different Profit Brackets up to £50,000 based on Income from trading.

Example:
If your total income in the whole tax year was £20,000 and all deductible expenses are around £5,000 therefore your Profit before tax will be £15,000 in this table you will see what tax and National Insurance will be payable on £15,000.

Download it and treat it as a guide to plan for your final tax bill.