Are my earnings the same as my profit? How do I know how much money I’ve made?

How much has my business made this year? The big question for all business owners. It feels like it should be very simple – sales less expenses surely equals profit. Yet somehow when you get your accounts back there are so many different figures, drawings, dividends, directors account, profit, taxable profit and all different. Not only that,… Read more »

Self employed or just a hobby?

Unfortunately it is very easy to be self employed without realising it. You might not consider yourself to be running a business empire, but as long as you are undertaking work or trading with the intention of earning money there is a good chance that HMRC will consider you to be self employed. But I’m… Read more »