Small Business Toolbox

Small Business Toolbox

I'm Andy Mac and I've run businesses in the UK for over 25 years. I'm not an accountant. I'm not a solicitor. I'm in the same boat as you and I've been doing this for a long time. On this channel I'd like to share with you some of the stuff I've learned over the years. Self employment can be hard but you're not alone. Hope you enjoy the content! Andy Mac :-)

Please note that I do not give accountancy advice. Don't make business decisions based on the views of a random bloke on the internet. Seek help from an actual professional... and then question everything they tell you.

All content on this channel is exclusively owned by MacLellan Creative Limited. All rights reserved. MacLellan Creative Limited, Registered in England & Wales, Company number 12667542. Please get in touch via smallbusinesstoolbox.uk

What is Profit and EBITDA?

What is Profit and EBITDA?

Пікірлер

  • @DerevalareAlakiassetDereval
    @DerevalareAlakiassetDerevalКүн бұрын

    Dereval are a laki asset Dereval bawer full

  • @DerevalareAlakiassetDereval
    @DerevalareAlakiassetDerevalКүн бұрын

    Dereval are A laki asset Dereval bawer full

  • @DavidEvans-b5b
    @DavidEvans-b5b5 күн бұрын

    Hi Andy, thanks very much

  • @chloewilson9903
    @chloewilson99039 күн бұрын

    Thanks for the review - looks like a great product & super simple set-up!

  • @SmallBusinessToolbox
    @SmallBusinessToolbox10 күн бұрын

    If you think this is a good suit for your business please use my affiliate link to order your card reader for £100 cashback - thank you!! 👍 (subject to T’s & C’s, link below): rebrand.ly/sbt-tide-cardreader/ Offer terms: smallbusinesstoolbox.uk/tide-card-reader-review/#terms

  • @KieranBinns
    @KieranBinns8 күн бұрын

    Its shame you cannot seem to change the receipt information. Mine shows my address but not the company name or number

  • @travellerseko
    @travellerseko11 күн бұрын

    Thanks for the review mate. Charges of the providers are high. I’ll stop accepting CC soon and start cash only even though there would be some loss of income.

  • @JoseCarlosMarquesJr.
    @JoseCarlosMarquesJr.11 күн бұрын

    tks so much!

  • @thelegaloccupier
    @thelegaloccupier12 күн бұрын

    Very understandable. Thanks👌

  • @Frog154
    @Frog15413 күн бұрын

    You know you're real-talking when you big-up spreadsheets over accounting software. Thanks a lot for this!!

  • @Rebin240
    @Rebin24015 күн бұрын

    I actually I want work for Amazon delivery driver I can’t open limited company I try too many times

  • @catialattanzichannel6127
    @catialattanzichannel612715 күн бұрын

    Awfully useful!

  • @dombooth5806
    @dombooth580616 күн бұрын

    Thanks mate, incredibly helpful

  • @ilariacoser6791
    @ilariacoser679117 күн бұрын

    Thank you!

  • @joseperezdelacruz2388
    @joseperezdelacruz238821 күн бұрын

    Simply ignore them, they can’t do shit!

  • @yantmartin-keyte6525
    @yantmartin-keyte652524 күн бұрын

    Receently been made redundent and your videos have been a great help!

  • @princessofproductivity
    @princessofproductivity25 күн бұрын

    10/10 !

  • @Craigo5000
    @Craigo5000Ай бұрын

    For paper receipts you could scan them in as pdf and on Google drive have a 2024/25 tax year folder for them named sequentially as per your Expenses column BUT ALSO then add a "link" to that Google drive directory and past the link into the cell so it's immediately referenced if needed. Same for e-receipts but without the faff of needed them to be scanned in :)

  • @Isaac-gh5ku
    @Isaac-gh5kuАй бұрын

    Is it possible to buy one, even if you are not in to business?

  • @ify1234
    @ify1234Ай бұрын

    This is an excellent video. Thank you so much for this. Great presentation and eye opener. 👍🏾👍🏾

  • @BigMattRob
    @BigMattRobАй бұрын

    I watched this over a year ago at first and now I went self employed start of the year I’ve come back to it and gone ‘what the fuck am I doing’🤣 as a gas engineer I can pretty easily get a job for 40k a year with cards in, but always wanted to work for myself since I was a kid, and this make me realise I don’t charge enough and sometimes I feel like I over charge! Very useful! Thanks

  • @HouseFairyDIY
    @HouseFairyDIYАй бұрын

    4.33% on savings?! Wow, that is good!

  • @HouseFairyDIY
    @HouseFairyDIYАй бұрын

    What if you have multiple revenue streams? Should you have multiple bank accounts? Or do you use tags?

  • @HouseFairyDIY
    @HouseFairyDIYАй бұрын

    What do you recommend for a sole trader with an online shop plus a holiday property rental? I've just been using Nationwide for now but have been told that if they find out you've used your personal account for business, they close your account and charge you for the business fees you would have paid.

  • @pmmtb699
    @pmmtb699Ай бұрын

    Hi I’m a cis site joiner and my 20% tax is taken from my contractor is my turnover before tax or after Thanks

  • @edoardosabatini1920
    @edoardosabatini1920Ай бұрын

    Would it be possible to reduce mntly spending limits?

  • @PathsOfReason
    @PathsOfReasonАй бұрын

    Thank you for the video. I didn't get the difference between domain and business name? Please

  • @PathsOfReason
    @PathsOfReasonАй бұрын

    So website first or domain first? Please

  • @PathsOfReason
    @PathsOfReasonАй бұрын

    Yes im having a headache how to register my new business: domain first or website first? 😢

  • @andrewwhite3793
    @andrewwhite3793Ай бұрын

    I have 5 spreadsheets Bank Purchases Mileage Sales Totals. They get filled in every day and any receipts are placed in a ring binder folder. At the end of the month all figures get transferred to a totals spreadsheet. Materials bought online where the PDF invoice is downloaded. Then finally at the end of the month all files and folders are backed up using FreeFileSync twice on USB sticks and put in a safe place. (just incase your computer fails or is stolen) Seeing someone with a carrier bag of invoices is funny to see so 10 minutes a day and it's done. PS I staple my small receipts on to a sheet of paper

  • @eyobabraham6921
    @eyobabraham6921Ай бұрын

    Thanks ❤❤❤

  • @FindingGod365
    @FindingGod3652 ай бұрын

    I cannot even break 100 views. YT keeps knocking me down removing views. They have taken away over a hundred now. I am a very very small channel. I have done nothing wrong and there is no way any bots even know I exist. I will never make it to 1000. Never. This is deliberate so they do not have to pay people. You can bet YT is profiting off this.

  • @patriciaduarte2392
    @patriciaduarte23922 ай бұрын

    How can you do a refund?

  • @Connie-Abby
    @Connie-Abby2 ай бұрын

    So helpful thank u

  • @8BallEyes
    @8BallEyes2 ай бұрын

    Can you help me? When you're on the Tide app after you've created your account, it says "Business details required" @6:05 it then guides you through steps filling out details and it asks you for your UTR number. I can't find mine? Do I have to register for Self Assessment to get one? Or do I wait for my LTD company UTR to arrive (if it does) and use that? Or Self Assessment? 🤷🏻‍♂

  • @patriciaduarte2392
    @patriciaduarte23922 ай бұрын

    For the UTR number you have to register for self assessment.

  • @DSN262
    @DSN2622 ай бұрын

    Yabba dabba dolike

  • @thegioiphang2024
    @thegioiphang20242 ай бұрын

    Did You solved the problem?

  • @SmallBusinessToolbox
    @SmallBusinessToolbox2 ай бұрын

    Nope. 😪

  • @vanessasheppard5270
    @vanessasheppard52702 ай бұрын

    Very helpful. Very informative! Thank you.

  • @Nebelung8
    @Nebelung82 ай бұрын

    1,95% now

  • @balarajuc5048
    @balarajuc50482 ай бұрын

    Thanks a lot , very nicely explained .

  • @stevenruddick9934
    @stevenruddick99342 ай бұрын

    I am confused, is that final figure at the end the amount of money you will get back from your tax return or how much they expect you to pay? I work self employed and my tax is paid for me however I was under assumption I received money back at the end of the tax year? Is that due to overpaid tax?

  • @shaunbishop1416
    @shaunbishop14162 ай бұрын

    Very helpful. I'll be going back through this video as step by step! Many many thanks 😊 from sterling shutters and blinds in Harrogate! Thank you SBT ❤

  • @lawrencehenson8409
    @lawrencehenson84092 ай бұрын

    Great video, very helpful, thanks

  • @FHO23
    @FHO233 ай бұрын

    Very helpful video

  • @sadafahmed9563
    @sadafahmed95633 ай бұрын

    Can you pay the tax owed all at once - the £4765.55 rather then 1st payment 2nd payment? So you don't have ot bother for the whole year it's all done and dusted? Also how do you pay it - do they deduct via your bank account or buy your debit card??

  • @stevejohnson48
    @stevejohnson483 ай бұрын

    If self employed does the personal allowance get taken off automatically ?thanks

  • @robertdavison2650
    @robertdavison26503 ай бұрын

    another year another £ ..... any chance you can do a new video for 23-24 CIS as they have changed the site and if i do almost the same as this it doesnt let me add my money

  • @patrickodonnell9669
    @patrickodonnell96693 ай бұрын

    I have been saying this for years this should be made mandatory in the curriculum for all schools we have been neglected for far to long by the education system get this sorted now people should have a vote on this and have it herd in parliament

  • @agee7777
    @agee77773 ай бұрын

    Why does the return say that you owe money once completed?

  • @KellieatLarge
    @KellieatLarge3 ай бұрын

    Hello. I've been binging your videos ahead of starting freelance work on the side of my regular job. Thank you for all the information! Could you please do a video about handling tax when you are both self-employed and an employee? Do I carry on paying tax through my PAYE number for my regular employment and just self-assess on my self-employed income? Or do I have to declare both incomes when I do the self-assessment? If so, do I run the risk of being taxed on the regular employee income twice? Would I need a new tax code for my regular job? Also, you've mentioned in more than one video not setting up as self-employed until earnings start in that capacity, but what about if I have an initial set-up cost I hope to be able to claim back eventually, but which would occur before I start earning? When HMRC asks when the business started, I read mixed information on whether this means when I start getting paid, when I commence the work for the client or simply when I commence any kind of activities related to the business. I'm sorry that got a bit long!

  • @SmallBusinessToolbox
    @SmallBusinessToolbox2 ай бұрын

    Hi Kellie! It should all balance out when you do your SA return. Figures from employment should automatically appear on the employment section of the tax return, but double check against your P60. Tax should then get calculated on your overall totals. The <£1,000 registration thing is more aimed at side hustles who never plan on making over £1,000pa. But defo for more serious businesses it's worth getting registered ASAP to get the losses set in stone. Number of ways this can be handled so generally best checking with an accountant as you may be able to introduce other items to the business that were pre-owned well before the business started. Effectively selling personally owned items to the business at a fair market value etc. As I say, accountants can be invaluable here. 👍

  • @Tjomi4007
    @Tjomi40073 ай бұрын

    Can you show again but whith over 50K how and what need tick in pages? Thanks