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Information & Help
Understanding Your Numbers
What’s the difference between gross profit and net profit?
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Gross profit is your income minus the cost of the products or services you sold.
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Net profit is what’s left after everything else — rent, software, insurance, subscriptions, etc.
If you’re not sure which is which, don’t worry — it’s something I explain to a lot of my clients. Understanding these terms helps you make better decisions and see what your business is really earning.
Profit vs Cashflow
Ever looked at your accounts and thought, “It says I made money… so why does my bank account feel empty?”
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Profit is often based on invoices you’ve sent — even if they haven’t been paid yet
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Cashflow is about what’s actually in your bank
Keeping an eye on both helps you avoid surprises and feel more in control.
Planning for Growth
What’s the difference between gross profit and net profit?
Feeling ready to grow, but unsure where to start?
Scaling a business doesn’t mean doing more of everything — it often means letting go of certain tasks so you can focus on what you do best.
Whether that’s handing over your bookkeeping, automating systems, or just getting a clearer view of your numbers, I’ll support you step-by-step.
Business Basics
What counts as a business expense?
If it’s essential and directly related to running your business, it’s usually an allowable expense.
That might include:
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Office supplies
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Courses or coaching
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Software
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Travel for client work
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Marketing or design help
If you’re ever unsure, just ask — I’d rather you double check than miss out on something you can claim.
Business Mileage
If you drive your personal car for business purposes (not your commute), you can claim mileage.
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45p per mile for the first 10,000 miles
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25p per mile after that
I can show you how to track this properly so you don’t lose out.
Getting Organised for Tax
Making Tax Digital (MTD ITSA)
This is a big change in how Self Assessment works, especially for sole traders and landlords.
I help you:
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Understand what’s changing and when
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Choose the right tools
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Set things up so it feels manageable
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Stay confident and informed
End of Tax Year Checklist
1. Get your records up to date
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Make sure all income and expenses are recorded — don’t forget receipts, invoices, subscriptions, and mileage.
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Reconcile your accounting software (if using) — everything should match your bank statements.
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If you’re using spreadsheets, double-check formulas and totals.
2. Chase any outstanding invoices
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Send gentle reminders to clients who haven’t paid you yet.
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Mark paid invoices clearly in your records.
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Consider using software that automatically tracks this for you.
3. Log your business mileage
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Add up all your work-related mileage from the year (not commuting).
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Note dates, journeys, and total miles.
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Remember the HMRC rates:
🚗 45p per mile for the first 10,000 miles, then 25p per mile
4. Check for any missing expenses
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Go through your bank statements to see if you’ve missed any claimable items.
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Think about:
💻 Software
📦 Postage
📱 Mobile phone bills (if partly used for business)
🧠 Courses or coaching
📢 Marketing or website expenses
5. Download your key documents
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Bank statements (covering the full tax year)
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PayPal/Stripe reports
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Pension contribution summaries
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Business loan/repayment statements
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Receipts for large purchases
Create a folder for this year and keep everything together — it’ll save time when you or I are preparing your return.
6. Review your personal allowance and income
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The personal allowance for 2024/25 is £12,570 — make sure you’ve used it wisely.
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If your income has changed significantly this year, we might want to adjust how you pay yourself next year (especially for limited companies).
7. Plan ahead for any big changes
Think about:
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Taking on staff or outsourcing
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Changing business structure
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Large purchases next year
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Maternity leave or reduced hours
The earlier I know, the more I can help you plan tax efficiently.
8. Submit your return early (if you're ready!)
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You don’t need to wait until January.
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Submitting your Self Assessment or company accounts early helps:
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Spot any issues sooner
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Budget for tax bills
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Avoid the last-minute panic
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I’ll guide you through what’s needed and when.
9. Ask questions
No question is silly — if you're not sure what something means, or whether you can claim for it, just ask.That’s what I’m here for.
Helpful Reminders
Child Benefit - age 16 reminder
If your child is staying in full-time education after GCSEs, remember to update your Child Benefit claim before 31 August.
More info
Childcare Cost Support
Check what help you might be entitled to — especially if your income has changed recently.
Subscriptions check-in
It’s worth checking your subscriptions every few months — it’s easy to keep paying for things you’re no longer using!
Getting Paid Properly
Wondering if your payslip looks right? Here are 3 things to check:
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Tax code – if this is wrong, you might be overpaying
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Deductions – things like student loans or benefits schemes should be listed clearly
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Pension contributions – it’s worth checking the amounts are accurate
If anything looks off, I can help you figure out what’s going on.
Structure and Strategy
Sole trader or limited company?
There’s no one-size-fits-all answer. I’ll help you weigh up the pros and cons based on your income, goals, and the kind of business you’re building — especially if flexibility and family life are a big factor for you.
Tax efficiency for directors
If you run a limited company, I’ll help you understand the best way to take income — whether that’s salary, dividends or a mix — to stay compliant and tax smart.
Thinking about buying a car through your business?
This decision depends on your business setup and how you use your car. I’ll walk you through the options so you can decide what works best.