In The Know

Should I pay tax on my OnlyFans income?

Personal Income Tax The income made from OnlyFans is subject to income tax and national insurance, if you are not working through a limited company, and therefore you must be filing personal tax returns (PTR) with HMRC for the profit they make from the site. HMRC have stated they will be targeting OnlyFans and other […]

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Tips for Amazon trading, be the best.

The amazing guys at www.vittopro.com have kindly given us some insight on the trials and tribulations, trading on Amazon. Owner & Entrepreneur, Phil Bone, is an expert in all sorts of support and protective wear for sports and has been a huge success selling on Amazon. How did the great man do it? Why did you […]

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Amazon Accounting made simple

Amazon accounting is extremely complicated with many traders using the net amount paid to them as their sales figure, which inevitably ends up with tax investigations. The Amazon report summaries are very confusing, none of which seem to tally back to the amount paid into the bank account, if you are using date range reports […]

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What you need to do for Making Tax Digital (MTD)

From April 2019, most VAT registered businesses with a turnover above £85,000 must keep their VAT records digitally and use Making Tax Digital compatible software to submit their VAT Returns. We explain what you need to do.

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Metro Bank Borehamwood branch

Metro Bank Business Account

With Metro Bank being one of the fastest growing banks in the UK, we have pleasure in announcing preferential rates for any of our clients. Find out more about the benefits we can offer such as ongoing free banking and automated bank feeds.

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Christmas allowances in 2018

Did you know that HRMC provides exemptions from tax and National Insurance on limited company Christmas parties for employees? Find out what you need to do to take advantage.

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IFA for contractors and small business owners

Hi my name is Alan Cripps. I’m a Independent Financial Advisor with 35 Years experience, living in Abbots Langley with my wife and 2 children.  Branching out on my own 6 years ago to become a fully Independent Financial Advisor meaning I’m able to use the whole of the Financial Markets to review and make recommendations for […]

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Freelancer using laptop

Making Tax Digital (MTD): In simple terms

In 2009, My Accountant Friend opened it’s doors to Making Tax Digital (MTD) for all their clients. For the majority of the accountants, way back when, online accounting was seen as insecure and sticking to spreadsheets was the safe, boring option.  How we laugh now! HMRC are making tax digital for all individuals and businesses […]

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Enterprise Initiative Scheme (EIS): ideas, suggestions, hints and tips

The Enterprise Initiative Scheme (EIS) is a government initiative offering some of the most attractive UK tax breaks available. We’re big fans of this scheme, here at My Accountant Friend, so we thought we’d put together this page (to be regularly updated) helping our readers to better understand EIS, and point out some of the more interesting […]

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