Im just starting out and ive looked through all the guides, but im just trying to find out what % i need to save on what im paid for the tax. I understand its on anything over £6495 (or close to that) and anything i use from the business gets taxed. But i would like to plan worst case scenario and save a % of any money i earn. Also any any tips for laying out a spreadsheet to keep track of everything. Im going sole trader and not bothering with VAT for the first year. Any help would be fantastic
Hi Ollyr, I'm starting out myself as well. With regards keeping track of everything, I've stumbled upon a piece of software that looks quite useful called iBiz. It's for Apple Mac though, but I'm sure there's lot of other similar applications across both PC and Mac platforms, some of which will be free.
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