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sole trader

Company Car or Not if you are a Sole Trader?

Should you have a company car or a car allowance as a sole trader?

We are asked so often by our  clients, both limited company directors and sole trader whether they are better off putting their cars through the business or not, and the short answer is… it depends.

As a sole trader if you are vat registered you have no choice – your car goes through the business whether you like it or not.

That means all of the associated expenses also go through the business – the cost of buying and maintaining your vehicle, your fuel, road tax, insurance and so on can all go through business.

But you still have to keep mileage records!

Because you only get tax relief on the actual business element of your travel.

If you aren’t VAT registered you can choose whether to claim mileage or put your vehicle through business, and every time you change vehicle you can change which way you account for it, so speak to your accountant about what works best for you.

 Get in touch with In Accountancy today to learn more about car allowances vs company car as a sole trader!

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Amazon Sellers – top tips to ensure your long term success

Have you ever considered selling on Amazon or eBay, setting up an eCommerce business, or a little side hustle?

If this sounds like you, it seems you are not alone.

More and more people these days are selling online to boost their income, sometimes just for a bit of fun and with no higher plans, and other times in the hopes of turning this so called side hustle into their dream job and their very first foray into entrepreneurship…

We have been receiving lots of enquiries recently about accounts and tax for Amazon sellers, so I’ve recorded a little video outlining our top tips if you are thinking about giving it a go yourself…

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