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Check out Dext expense / receipt management software (affiliate link, see below)
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Full overview of Dext: • Receipt scanning and management - full ove...
When you’re self employed in the UK you’re obliged to keep business accounting records. Today we’re looking at what information I log to record income, business expenses, running a vehicle through the business and using our home as an office. As per usual, I am not an accountant. Always use a good accountant.
What is MTD ITSA?
https://smallbusinesstoolbox.uk/makin...
Some related videos that might be useful:
What is cash basis? • What is CASH BASIS accounting? UK small bu...
What an HMRC audit is like: • I got audited! Questions asked in a UK tax...
What is reconciliation? • What is RECONCILIATION and why is it impor...
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👉 InvestEngine for investments: https://smallbusinesstoolbox.uk/yt/in...
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👉 SiteGround for web hosting: https://smallbusinesstoolbox.uk/yt/si...
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👉 Acronis for data backups: https://smallbusinesstoolbox.uk/yt/ac...
⚠️ Disclaimer ⚠️
This is not accountancy, financial, tax or legal advice. Always use a good accountant and legal / financial professional. If you make an investment your capital is at risk. My opinions are my own and don't necessarily reflect the views of the companies I deal with. I sometimes earn commission from affiliate links - these don’t cost you a penny and help to keep this channel running. Read more about affiliate links here - the fairest way of funding the internet: https://smallbusinesstoolbox.uk/affil... - thanks so much for your awesome support!
All content on this channel is exclusively owned by MacLellan Creative Limited. Copyright (c) 2023. All rights reserved.
Extension Cost Chapters:
0:00 - Introduction
3:10 - HMRC requirements
6:50 - How long to keep records?
7:25 - Logging business expenses
14:55 - Tracking business income
20:33 - Business mileage
26:28 - Using your home as an office
30:52 - Summary calculations
33:20 - Spreadsheet vs accounts software
34:40 - Dealing with electronic receipts
37:40 - Data backups and final tips
#Accounts #Expenses #tax
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