Self employed - Accountants Chester | Phillips & Co

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Self employed

Going Self-Employed in Chester? Your Quick Start Guide!

Author: Phillips & Co Accountants, Chester Date: May 9, 2025 Taking the leap into self-employment is an exciting...

Trading and Property Allowances

May 27 | accountancy, Allowances, business management, Business Owner, Chester, expenses, hmrc, partner, Self employed, Self-Assessment, Sole trader, tax, Tax planning, Tax return

The 2023/24 tax year presents valuable opportunities for small businesses and property owners to reduce their tax liabilities through the Trading and Property Allowances.

Cash Accounting Becomes the Default for Sole Traders

May 13 | Cash Accounting, accountancy, Accountants, bookkeeping, Business Owner, Chester, Family Business, hmrc, Income, Income Tax, Self employed, Self-Assessment, Sole trader, tax, Tax return, Trading Expenses

As of 2024, a significant change has been implemented in the way you manage your accounting: cash accounting is now the default method for your business.

Understanding Payments on Account

Apr 28 | Payments on Account, accountancy, Accountants, Business Owner, Chester, director, Employer, hmrc, Income, Income Tax, Influencers, Self employed, Self-Assessment, Sole trader, tax, Tax return

Navigating Payments on Account can feel daunting for self-employed individuals. This initial instalment of our self-assessment series aims to clarify this frequently misunderstood part of the tax system.

Navigating Self-Employment National Insurance

Apr 22 | Self employed, ACCA, accountancy, Chester, hmrc, Income Tax, National Insurance, Self-Assessment, Sole trader, tax, Tax return

As a self-employed professional in Chester, understanding National Insurance Contributions (NICs) is crucial for accurate tax calculations and avoiding future surprises. Let’s break down the nuances of Class 4 NICs:

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CATEGORY ARCHIVE

Going Self-Employed in Chester? Your Quick Start Guide!

Trading and Property Allowances

Cash Accounting Becomes the Default for Sole Traders

Understanding Payments on Account

Navigating Self-Employment National Insurance

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