Smarter accounting
24 May 2022, Advocates, Barristers
There is specific guidance from HMRC on accounting for VAT for advocates. VAT notice 700/44 was updated on 20th May 2022. The change was only to update a contact address, but with an increase in people leaving work it is a good time to consider the VAT implications of leaving your practice as an advocate. […]
20 April 2021, Advocates, Barristers, Creative Industries, General, Musicians, Sole Traders
A sole trader may incur costs before setting up their trade. Some of these pre-trading expenses are allowable for tax purposes subject to being ‘wholly and exclusively’ for the trade or profession. Capital items purchased prior to trading may also qualify for capital allowances. Pre-trading expenses Expenses incurred up to 7 years before commencement of […]
25 April 2021, Advocates, Barristers, Creative Industries, General, Musicians, Sole Traders
Before you start to trade you can register for VAT as an intending trader to recover input VAT on computer equipment and other costs. You can also recover pre-registration VAT in some circumstances. Pre-trading VAT The current threshold for obligatory VAT registration is an annual turnover of £85,000. Voluntary registration is beneficial where: VAT on […]
28 April 2020, Advocates, Artists, Charities, Companies, Creative Industries, Employer, Musicians, Sole Traders
COVID-19 Business Support webinar from Collabor8te Collabor8te is a coworking space in the heart of Glasgow. Although the building is closed at the moment, they are still supporting the business community in Glasgow and across Scotland. Collabor8te are putting on a free webinar to provide some answers on the COVID-19 business support measures that have […]
30 April 2020, Advocates, Artists, Creative Industries, General, Musicians, Sole Traders
Grants for newly self-employed Applications for this grant opened on the afternoon of Thursday 30th April. Grants are administered by the local authority in which you live. To claim newly self-employed hardship fund cash, refer to your own local authority website. Claim Newly Self-Employed Hardship Fund Cash You need to apply in your Local Authority […]
24 April 2020, Advocates, Artists, Barristers, Creative Industries, General, Musicians, Sole Traders
Grants for newly self-employed The Scottish Government has announced a £34 million Newly Self-Employed Hardship Fund. The fund will be managed by Local Authorities to allocate grants of £2,000 to the newly self-employed facing hardship. The self-employed who started trading after 5th April 2019 are excluded from the Self-Employment Income Support Scheme. The Scottish Government […]
13 December 2019, Companies, Creative Industries, Sole Traders
Alterledger is coming to Tramshed Tech in Cardiff to give free tax and accounting advice at 11:00 on 20th December Alterledger has been on tour with sessions for the creative industries in Glasgow on 10th December 2019 and Belfast on 12th December 2019. It will be Cardiff’s turn on 20th December so Tim Alter will be in […]
5 December 2019, Creative Industries, Musicians, Sole Traders
Free Tax and Accounting for Musicians’ Union members Members of the Musicians Union are invited to a free seminar – Tax and Accounting for Musicians in Glasgow on 10th December 2019 and Belfast on 12th December 2019. You can learn how to take some of the stress out of filing your tax return. If you are […]
22 May 2015, Artists, Musicians, Sole Traders
Do I have to pay tax on my hobby? If you run a business from home the likelihood is that you will have to pay tax on profits. Not all activities related to buying and selling are recognised as trading by HMRC. To establish whether a person is carrying on a trade you need to […]
12 May 2015, Advocates, Artists, Barristers, Companies, Musicians, Sole Traders
Input VAT is the VAT you pay on purchases of good and services. Once a business is registered for VAT, this input VAT can be reclaimed as long as it relates to taxable supplies. Under specific circumstances pre-registration input VAT can be reclaimed. View image | gettyimages.com Reclaim pre-registration input VAT Goods In most cases […]
12 May 2015, Advocates, Artists, Barristers, Companies, Musicians, Sole Traders
Cut your start up costs The timing of start up VAT registration can help you to cut costs at the most vulnerable time for your business. Most start ups find that it can take a while before they are receiving income. Rather than wait for sales before registering for VAT, you can register from the date […]
17 September 2014, Companies, Sole Traders
Alterledger is proud to be a Xero Partner Xero has created beautiful accounting software (yes really!) and works in partnership with accountants across the globe. Alterledger is Xero Partner and is pleased to be able to announce that Xero will be coming along to the Creative Industries Networking for Business event on 19th September. If you […]
17 September 2014, Companies, Sole Traders
Premium tickets released for Creative Networking Event Free tickets are still available for the Creative Industries Networking for Business event on 19th September. If you would like a little extra and a £100 voucher for Alterledger, premium tickets are now available. Online Ticketing for Creative Industries Networking for Business powered by Eventbrite Terms for Premium […]
14 September 2014, Companies, Sole Traders
Free networking event for creatives in Soho If you want to meet some like-minded people for free networking and get some free advice on setting up and running your business, sign up on Eventbrite! Online Ticketing for Creative Industries Networking for Business powered by Eventbrite It is happening on Friday 19th September from 6pm in […]
10 September 2014, Charities, Companies, Sole Traders
How does my start-up get clients? You’ve set up your business and made decisions about forming a limited company, you are ready to trade, but how do you get clients for your start-up? Hopefully you already had some contacts before you started your business, but whatever your situation it is always good to expand your network. […]
9 September 2014, Charities, Companies, Sole Traders
Should my start-up be a company? You’ve got a great idea, you’ve thought of a name for your business, but you are not sure whether or not you should set up a company. You will hear from lots of people in your industry that they have set up a limited company, but is this right for […]
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