So, Congratulations on your new Onlyfans account, uploading your photo for the 30th time and it’s finally been approved, you have done the hard part! So what next? Here is a full in depth guide on how to set everything up properly…. At My Accountant Friend we would highly recommend getting a dedicated business bank […]
With over 100,000 (July 2022) UK OnlyFans creators, OnlyFans is strongly becoming the fastest growing income stream for many young adults and you can easily see why – Many creators are earning more in one month, that they can earn in a year with a ‘normal’ 9-5 job. The content can be created instantly, from […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
Our last few blog posts have featured interviews with CEOs and founders of startups (see our category ‘In Good Company‘), and it occurred to us that, as a blog attached to an online accountants (My Accountant Friend), it might be a nice idea to look into what it is that makes our working relationship with […]