Importance of Information

Business Structure Review

The 123 Way

What is included as standard for a fixed fee of £65.00 + vat per month:

Full Contracting health check - is your business performing as best it could - we'll ensure it is.

If you're new to freelance contracting, we'll ensure you start trading in the right way.

Then you can sit back and relax, your ongoing HMRC & Companies House compliance will be taken care of.

The 123 Way - simple & stress-free.

Information means everything to you. If you want to understand why your business is doing so well or maybe not where you want it to be then the information from our bookkeeping spreadsheet is the key. There are also some important laws regarding information or data and its
protection.

User our bookkeeping spreadsheet every month to see;

- how much your business is spending on each expense and where you can cut costs and make savings,

- how much you have invoiced your clients and how much they have actually paid you so you can see how much they still owe you,

- how much you need to transfer to your business savings account for paying your Tax and VAT bills,

Keeping your bookkeeping spreadsheet up-to-date each month with your income and expenses will help you to not make any mistakes and receive fines and penalties - it is key to being a successful freelancer or contractor.

Data Protection Act

If you keep a record of your client’s information on your computer then you probably have to register under the Data Protection Act. If you don’t register then it’s a criminal offence with fines and penalties imposed by the courts. The good thing is it’s cheap around £35.00 per year - for more info take a look at the Data Protection Registrar.

Running a Limited Company

Being a Sole Trader

Responsibilities

Business Bank Account

Drawings

Bookkeeping & Records

Trading Accounts

Business Tax

VAT - The Basics

VAT - The Choices

123 Income Illustrator

The 123 Income Illustrator shows you what you can expect to take home from a given contract.

It also compares the differences between freelance contracting through your own Limited Company, through an Umbrella Company, as a Sole Trader or if you were to return to full time employment.

The123 Income Illustrator

Invoicing

Expenses

Expenses - Detailed Guide P1

Expenses - Detailed Guide P2

Personal Tax/Self Assessment

Importance of Information

Important Dates

Calculators

123 Referral

We run a simple referral programme where for every client you refer to The 123 Way we will give you £123.00

For more information check out the link below:

123 Referral

FAQs

Disclaimer:
This information is for general information only. No responsibility is taken for any action taken or refrained from in consequence of its contents. Always seek professional advice before acting.