In The Know

Questions from the self-employed: How do I close my company?

It’s not the most positive article we’ve ever had to write, but we’re all about helpfulness here at My Accountant Friend. One of the questions many self-employed people find they may have to consider is “How do I close my company?” As HMRC are inevitably going to have to be involved, it’s not as straightforward […]

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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 MAF, 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 opportunities that […]

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Becoming GDPR compliant: what on earth does that mean?

If, like most people, you’ve subscribed to a number of newsletters and online services, the likelihood is that you’re suddenly being inundated with emails talking about “GDPR compliance”. While it might appear on first glance to have something to do with Pound Stirling, it’s actually related to the EU’s changing position on personal data. We […]

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UK freelancers 2018: self-confidence up, but confidence in government down

The latest Freelance Confidence Index has been published, and the numbers confirm what many freelancers have been saying privately: it’s not the easiest time to be going it alone and major political events have played their part. That said, the freelance community is still earning reasonably well, and the recognition that “you are what you […]

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Life insurance and the self-employed… how does that work?

Life insurance is one of those “I’ll put it on the to-do list and never get round to it” things for most self-employed people. As financial planner, Alan Cripps, says below – most of us either have it added a form of life insurance to our mortgage (if we’re lucky enough to be able to […]

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Tax deadlines and self-assessments: what does HMRC consider a ‘reasonable excuse’?

This time last year we looked at 10 excuses that HMRC hear most commonly when it comes to self-assessment deadlines. This year we thought it might be worth looking at what HMRC considers a ‘reasonable excuse’. 

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Why we’re advocated against extending IR35 legislation to the private sector

Earlier this week we shared a petition against extending IR35 legislation to the private sector. If that sounds like a load of accountancy jargon to you, we understand. However, there’s a big chance that the changes that the government are hinting at will have a major effect on your life as a self-employed person. To […]

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The freelancer’s guide to business receipts

Business receipts have a complicated place in the hearts of most people new to self-employment. That moment when you first register your company, head into a shop and put something ‘through the business’ – it’s an exciting time for everyone. It makes you feel proud of yourself, not to mention a little as though you’re […]

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That iPhone X looks pretty sweet – can I put it through my company?

It’s that time of the year when the shops start flooding with new gadgets in time for the Christmas market. Tempting, aren’t they? But before you go rushing off and buying one on your company’s accounts, it’s worth knowing a little about what you can and can’t set against your taxes. Once again, we asked […]

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Christmas allowance for UK freelancers and contractors – what’s that all about, Kenny?

Forgive us for doing this to you so early in the year. It’s barely October and we’re already wafting the mistletoe around (believe us – it’s all we could do to keep Kenny from donning his Santa beard). But it’s always worth planning ahead, isn’t it? And when there’s a nice bit of tax-friendly Christmas […]

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