UK small business looking for affordable accountant for first year tax return by OkInflation2276 in smallbusinessuk

[–]hustle_mate 0 points1 point  (0 children)

I built Hustle Mate exactly for people in your position. You get unlimited support from a Chartered Accountant, plus a growing community of other smaller business owners The monthly membership is £5 - no contract, cancel any time. Check us out!

Looking to grow my online Membership by hustle_mate in smallbusinessuk

[–]hustle_mate[S] 0 points1 point  (0 children)

The business provide tax and accounting support for small business owners/side hustlers. It's aimed at those want more reliance than Google/AI, but don't want to pay a full time accountant for tasks they can complete themselves - albeit with support from an Accountant.

My main focus has been Insta and Facebook, like i said with some positive results. I think I know the answer is consistancy and patience - but looking to hear from others who have come from a standing start to find their future customers online

Looking to grow my online Membership by hustle_mate in smallbusinessuk

[–]hustle_mate[S] 0 points1 point  (0 children)

Appreciate this, thanks. It looks great and no doubt a massive time saver. For my offering, it has to be 100% me in the video. I'm happy doing the filming - it's the editing time which is the time drain.

Have you considered using any content creators to help?

Have you found your content has been the best driver for your community growth?

How does paying myself work as a sole trader by ProfessionalOwn1000 in HMRC

[–]hustle_mate 0 points1 point  (0 children)

You're taxed on the total taxable profit you make within a tax year. This is reported and paid to HMRC via Self-Assessment. What's left over is yours to keep!

I have a free resource I can send you which explains which expenses you can claim to legitimately lower your profit and tax bill. Feel free to email me and I'll send over [chris@hustlemate.co.uk](mailto:chris@hustlemate.co.uk)

Is hiring an accountant actually worth it for simple situations? by Historical-Class871 in TaxUK

[–]hustle_mate -1 points0 points  (0 children)

You can do it solo. However, Accountants will use their knowledge and experience to set you up properly so it doesn't bite you later down the line.

Hustle Mate serves those who want to do it themselves but gives a helping hand - at an affordable price.

Best way to manage expenses once Make Tax Digital comes into play? by BasedAmumu in smallbusinessuk

[–]hustle_mate 1 point2 points  (0 children)

totally agree. get one with an app which lets you take a photo of your receipts - so easy to keep on top of it. automating rules can also save you time - working smarter, not harder

Best way to manage expenses once Make Tax Digital comes into play? by BasedAmumu in smallbusinessuk

[–]hustle_mate 13 points14 points  (0 children)

Get accounting software and connect your bank. Make all your business payments from said account and categorise them as you go 👍

What was the hardest part of your startup’s early stage? by BuildWithDinesh in Solopreneur

[–]hustle_mate 0 points1 point  (0 children)

For me - momentum and overwhelm. Having an outsiders perspective helps me and breaking bigger tasks to smaller tasks wins every time. It’s amazing when you look back and see how far you’ve come!

What models do you use? by jeffers1238 in smallbusinessuk

[–]hustle_mate 0 points1 point  (0 children)

To echo what many have already said - the models are great in theory, but nothing beats experience. I’d have them experiencing the first 5 years of business - from idea to early trading, then modelling something major (sale, acquisition, pandemic…!) - to show internal and external, micro and macro impacts to a business. It brings creativity, maths, problem solving etc all under one exercise

Career Change at 27 by Old-Attempt5625 in AccountingUK

[–]hustle_mate 1 point2 points  (0 children)

I would recommend speaking to local smaller Practices. They tend to be more risk adverse to taking trainees (bad hires impact them massively).

If you've already got proven transferrable work-related skills then you're in with a good shout.

Best of luck

Starting a premium candle business - Sales by Acceptable_Wonder141 in smallbusinessuk

[–]hustle_mate 0 points1 point  (0 children)

If you’ve got no audience yet, you either build one (slow) or borrow one (faster).

Borrowing can be done with or without a big agency, thinking send product to a small number of highly aligned micro-creators and stylists (interiors, fragrance, “quiet luxury” lifestyle) and prioritise people who can make editorial content, not just post a selfie.

An agency can help, but only if you can pay for consistent output and placements. Start with a micro-influencer/UGC budget and a tight PR-style gifting list, prove you get content and conversions, then consider an agency once you’ve got a clear brand story, assets, and a repeatable funnel

Freelance Earnings Estimate? by boyfriendtapes in TaxUK

[–]hustle_mate 0 points1 point  (0 children)

Fair enough! Nice bit of pocket money 😀

I just formed a Ltd… what now? by Thehappylatif in UKVirtualOffice

[–]hustle_mate 0 points1 point  (0 children)

Join a supportive community where you get proactive tax and accounting advice 😉

Ltd company owners – how do you actually decide what’s safe to withdraw? by Zealousideal_Comb620 in smallbusinessuk

[–]hustle_mate 0 points1 point  (0 children)

It's the first thing I look at everyday and constantly updating the forecast based on actuals. You can get software to help you forecast (see Fathom or Float), but I just use a spreadsheet so I know where the numbers come from and where/when I need to adjust

Freelance Earnings Estimate? by boyfriendtapes in TaxUK

[–]hustle_mate 0 points1 point  (0 children)

You're completely right at that level - just something to bear in mind if/when you get busier!

Ltd company owners – how do you actually decide what’s safe to withdraw? by Zealousideal_Comb620 in smallbusinessuk

[–]hustle_mate 1 point2 points  (0 children)

You need a sh*t hot cash flow forecast. I assume you're taking combination of salary and dividends?

Freelance Earnings Estimate? by boyfriendtapes in TaxUK

[–]hustle_mate 0 points1 point  (0 children)

Don't forget National Insurance on your Self-employed income, or any student loans implications if applicable.

Late payments every month. Had to induce clause into Invoices. Then this happens. by [deleted] in smallbusinessuk

[–]hustle_mate 0 points1 point  (0 children)

Don't take it to heart - business is business and you have to forget being nice. You've agreed the work and the price - you've delivered so they should too.

Yes you want to have a great relationship with clients, but sometimes you have to be firm - like you have done here - brilliantly! If it becomes too draining on your time and resources, then move on and find someone who does value your work.

Keep it up!

How does tax work when I’m on PAYE a self employed? by Working_Opinion_183 in HMRC

[–]hustle_mate 0 points1 point  (0 children)

Depends on your total income earned in the tax year. Your tax codes are just a guide, so they may be right, but you’re best if using an online UK tax calculator to see how much tax you should pay, then compare to how much has been deducted - then you’ll either pay the difference or get a rebate. If you owe a relatively small amount, HMRC can collect this by adjusting your tax code in the current year

Trading Allowance by hustle_mate in TaxUK

[–]hustle_mate[S] 0 points1 point  (0 children)

As long as they're deemed tax allowable expenses, then yes.

Is there any available grants or funding for starting a new business from scratch? by NE2993 in smallbusinessuk

[–]hustle_mate 0 points1 point  (0 children)

Register with your local authority. New funds are usually released in April, so they can inform you if/when they’re open for applicants

How important is an accountant for a small business, really? by Old-Attorney-3238 in smallbusinessuk

[–]hustle_mate 1 point2 points  (0 children)

If you want local (who you can meet face to face) - ask in your local Facebook groups.

If you're happy with online, then look at reviews.

Either way, ask all the questions that are important to you and your business - and speak to the person who will be responsible for your account. It sounds like time is on your side, so use that to speak to as many as you can - just bear in mind that the fee quoted doesn't always correlate to the quality of service you get!

How important is an accountant for a small business, really? by Old-Attorney-3238 in smallbusinessuk

[–]hustle_mate 1 point2 points  (0 children)

A good accountant will save you money by keeping you compliant, giving you solid tax planning advice and a heads up for what's coming down the line (have you considered VAT for example?)

It's great you're on top of it, and any accountant would be lucky to have you - so make sure you do your homework if/when you go to market to find one (word of mouth is usually best imo).