Originally posted by theduchess
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Always retain receipts. And keep a meticulous log - I'd suggest hand written (in whatever format makes sense to you) at least while you get started. You'll need a spreadsheet or accountancy package too, but a hand written 'primary record' can help untangle any mess.
It costs nothing to sound out a few accountants so definitely do this even if you're not intending to engage someone immediately. While you're at it get some advice on VAT, FRS, and the 1% discount, and the best time to VAT register in view of the planned tools and materials purchases.
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