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When you're a sole trader, what you take out of your business (your drawings) has no bearing on your tax bill - your tax is calculated based...
I'm John Falcon, Director at JF Financial.
We provide accounting services to modern small businesses, freelancers and contractors.
Be careful with the flat rate scheme as you have to think about the relatively new 'Limited Cost Trader' category which is 16.5% which you may be...
Be careful of employment status also, some initial info below:
GrantTree (one of many R&D specialists) have a quiz below you can work through which may be helpful:
If you use it pretty equally for both personal and business then I'd simply claim 50% for business
You can claim the business use proportion when you're a sole trader.
Note, you can't do this when a limited company, the contract needs to be in...
Hey, you can file your confirmation statement through Companies House here:
If you fill in the W-8BEN-E form this should stop them from withholding tax
You don't have a business bank account with Natwest do you? If you do you should be able to ask them for a free FreeAgent license
Another fan of GoCardless here - very simple to use - both from your end and the clients end when it comes to setting up a DD
Sounds risky to me - the VAT disaggregation rules block this kind of thing