In some cases, you may need someone to look after your child in order to be able to carry out your self employed activity, such as running your groups. However childcare is not a direct business cost and cannot be claimed as an allowable business expense. An allowable business expense…
To thank your amazing social team members, you may consider providing them with a gift at Christmas or on a specific event. Under HMRC guidance, specific gifts can be provided to social team members (e.g. members of your groups) as long as they meet specific guidelines as below. External Links
With a traditional approach, drawings is when money is taken out of a business. This is important to understand where money goes between the business and to when it becomes owned by an individual. Self employment however doesn’t have an element such as drawings, salaries or wages – instead any…
Our additional Self Employment Spreadsheet provides a simple and easy report which calculates the business profit/loss. The values for this are taken from the income, expenses and mileage tracking tables within the document. On the first load of the spreadsheet, some ‘example data’ will be added to the system to…
The mileage tracker allows you to log details of any travel undertaken as part of your additional self employed role. To add a new mileage claim, complete the relevant columns as shown above. The odometer start and end values should be entered as a log of mileage completed, and the…
The Expenses screen provides simple data-entry options to add expenses to your spreadsheet. These could be purchases of stock, advertising expenses or anything which has been incurred through running of the business. You can view our expenses section to see common items. To add new expenses to this list, simply…
The Income screen provides simple data-entry options to add income sources to your spreadsheet. This could be income / sales from transactions depending on the nature of your business. To add new income, simply add the date, income details and value into the relevant field. You don’t need to include…
To access the new reports, click the ‘View your report online’ button on the dashboard. The system will then load your MalgraBooks Client dashboard. If required, login to your account. Once ready, you’ll be provided with the Cloud Spreadsheet Sync page – simply click the ‘Sync Data’ button to continue….
Monthly Summary This section provides an overview of your month, automatically calculating your income and expenses. Additionally, a profit/loss section is added so you can see how profitable your month has been. Following user requests, we’ve added a ‘notes section’ at the top, to allow you to add any comments…
Until recently in the United Kingdom, there was one tax system which covered the whole country, however, the Government has given devolved powers to both the Welsh and Scottish Governments. As such, countries can chose their own tax rates. Currently only Scotland exercises this power. The Country Selection screen allows…