Off The Record

OnlyFans accountancy package

Following feedback from many of our Only Fans creators, we are pleased to announce a basic package for anyone using OnlyFans and Fansly in the UK. Included in the package Monthly tax advice (sole trader only) Bookkeeping advice on what you can and cannot claim Personal tax return preparation and submission to HMRC Dealing with […]

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Pick your accountant carefully

Pick your accountant carefully Have you ever asked your accountant about Managed Service Company (MSC) rules? After a very recent investigation, by HMRC, into contractors and their relationship with their accountants has resulted in one Accountancy firm being deemed a MSC provider. What does this mean and how did it come about? An MSC provider […]

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Trading online – small margins

Many clients have come to us for financial guidance AFTER they have started trading online, spending time and money setting up websites and creating online accounts with their chosen sellers from Amazon, EBay, Shopify & Easy, to name a few, only to find they have wasted their time and money! Every trader must earn money and money […]

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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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Who says accountants are dull?

Much as we love furnishing you with useful freelance life info week in, week out, occasionally we like to cut loose a little and show you just a glimpse of all the amazing fun things we do in the accountancy world. No, don’t run away! It’s true. Life as an accountant isn’t as dull as you […]

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Book-keeping for beginners: the dos and don’ts

Here on The Life Hub blog we’re commonly asked about that tiresome bane of the freelance existence: book-keeping. There’s no doubt it can be a daunting task, especially if it’s something you’re new to and don’t fully understand. So we grabbed Lauren Monks from My Accountant Friend and asked her to put together a few dos and don’ts for […]

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Why choose an online accountant?

What’s the difference between a traditional accountancy firm and an online accountant? Nope, this isn’t a joke. It’s a genuine question that we get asked a lot here at My Accountant Friend. So we thought we’d chat to some of our customers and find out the difference having on-demand accountancy makes to their business lives. […]

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How to avoid a VAT inspection

Happy New Year to one and all! If your resolutions included “avoid VAT inspection”, then boy! Have we got a late Christmas present for you! In all seriousness, it’s that time of the year when most self-employed people have tax on the mind. Check back in with us over the next few weeks for info on […]

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