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What you need to know about claiming mileage on your taxes.
The financial life of every freelancer is subdivided into quarterly estimated taxes. But in the holiday bustle, it’s easy to forget all about them. When the fourth quarter deadline comes, many people rush to make a payment without updating their income and end up with a surprise tax bill. Let’s talk about why you should re-estimate your quarterly taxes before the end of the year and changes that can affect your payments.
Fall is a time of reflection and slowing down, before things ramp up for the holiday season. So take an afternoon to set yourself and your business up for success! You’ll likely experience the payoff and feel more in control of your money before the December time crunch.
Mileage is our bread and butter, but it’s just one piece of the puzzle for drivers and admins — which is why our latest updates are all about efficiency. Here are some ways we improved our offerings so you can fly through your mileage tasks (and in some cases, be able to forget about them completely).
If you or your team drive for work, you know that tracking mileage involves a gazillion small admin tasks that inevitably eat into your time. It’s not as simple as tracking a drive. You need to note all the details, verify the drive was indeed for work, and then make sure all the key players, from manager to accountant, have the right mileage records. Here at MileIQ, we worked hard to create a comprehensive toolkit for every leg of the journey — so tracking mileage becomes as simple as possible.
A rundown of the income tax rates for 2019-20, which go into effect 6 April 2019. We’ll also explain how the changes will affect your tax bill.
The HMRC Construction Industry Scheme (CIS) deducts tax at source from payments made by contractors to subcontractors. Here's a comprehensive guide.
We cover the steps needed when setting up a food business from home in the UK, the importance of food safety, getting the right equipment, HMRC requirements
In this post, we’ll explain what PCI DSS is, who should be compliant and what you need to do to make sure your small business meets the requirements.
Poor email etiquette can annoy your colleagues. Or it could sabotage your whole career. Email etiquette is a vital and overlooked skill. Here are our tips.
Here’s our guide to IHT, including when you pay Inheritance Tax in 2019 and how you can avoid it.
Here’s a rundown of the company car tax rules in place in the UK in the 2019-20 tax year and a look at the best, most tax-efficient company cars.
Don't let your small business run afoul. Learn how to organise your account and understand how payments on account work by reading this article.
Company car tax rates and rules change every year. Read on to find out what this year’s changes are and who needs to pay what.
In this article, we’ll explain how the Child Tax Credit works, how much you can claim. Plus information about Universal Credit that eventually replaces CTC.
Guide to the best shopping cart software that tracks and manage product inventory, fulfil orders, maintain a product database, track sales, and more.
Whether you’re self-employed or work for someone else, you have to pay National Insurance contributions. Here’s how NICs work for self-employed people.
Completing a self-assessment tax return and sending it to HMRC is a very pressing need indeed. Here are important tax dates you need to know.
These tips will help you increase your self-employed income. This advice is easy-to-follow and has been proven to work in multiple industries.
These self-employed expenses are easy to forget when it's tax time but claiming these costs can really help you save on your bill.
Your small business budget can be the difference between success and failure. Here are some easy-to-follow budgeting tips for the self-employed.
Yes, tax time isn't fun. But with this ultimate playlist of tax-related songs, you can at least have a fun time paying the HMRC.
Find out when to complete HMRC form P87 and how to go about it, so you can get tax back on business expenses your employer doesn’t fully reimburse you for.
The Ultimate Guide to Mileage Tracking offers tips for how and why you should track your business drives for taxes. Get this free guide today.
Doing your HMRC taxes is never fun, especially when you're self-employed. These tips will help you speed through the process.
You can boost small business productivity with these 12 easy-to-follow tips. Learn how these can improve & grow your business.
Calculating profit margin doesn't have to be that tough. Here's how to calculate gross profit margin, net profit, as well as what the difference is.
Learn how to calculate your profit, gross income, taxable income and how to use this for your HMRC tax returns. It's easier than you think.
Ready to take your small business to the next level. Here are some small business growth strategies for companies of all sizes.
Understand the difference between revenue and capital expenses, learn all about writing them off and find out how they can lower your business tax bill.
Here are the employee deadlines for PAYE, student loan and CIS returns. Meet the deadlines or you could face penalties from the HMRC.
Looking for ways to make record management easy? Here are some tips for keeping track of you business expense.
What's it like to leave your day job and be your own boss? Learn whether being a self-starter is for you and how to start a consulting business.
Here are tips and a guide on how to harness the power of the internet to find good employees online for your growing business.
Your business name is the first thing customers come across. Learn how to create a meaningful moniker and how to trademark it so no one steals it.
A business plan is critical if you aim to open your own business. Here's what you should know about writing a brilliant business plan.
It's not enough in business to set goals. You need SMART goals, which are measurable, achievable, relevant, and time-bound.
In a global business world, you need effective communication. Here are some useful business skills for a smart internal communications strategy.
To smooth the business process of developing crucial, smart communications content, we offer practical advice, time-tested processes and real-world examples
A strong social media presence can have a big impact on your small business. But where to start? Check out our social media marketing tips and tricks.
As a business owner, declaring bankruptcy can be devestating. Here's a look at the pros and cons of bankruptcy to help you make a more informed decision.
What’s the best accounting software for small businesses in the UK? And how do you choose the best one for your needs? We have answers.
If you run a small business, failure to comply with GDPR rules by 25 May could see steep fines up to 4% of turnover. Here's what you need to know.
Are you doing business as a limited company? Here's a look at corporation tax, salaries, dividends and how to get paid through your limited company.
MileIQ for the UK is now available. Learn why the easy, automatic mileage tracking app is ideal for your taxes and reimbursements.
Going self-employed is an exciting idea but you shouldn't just dive in. Here are six things you should do before going self-employed.
Building a successful business as a self-employed person requires a multitude of skills. The good news is, there are plenty of online tools that can help.
Don't ever forget: your time is worth money, especially if you're self-employed. These 10 time-saving tips will help you reclaim your schedule.
When you're self-employed, you must register with the government as a sole trader. Here's how to do it easily and correctly.
These freelancer tips and tricks will help you book better clients and grow your business. Follow these golden rules if you want to succeed.
If you're fed up of the nine-to-five and looking to take back some control of your life, and maybe see the world, here are the best travel jobs.
You can travel the world and earn money with this list of freelance jobs. These 10 jobs are suited for a variety of vocations and interests.
Here are some freelance jobs that require travel as a part of the job description, offer more variety, but requires you to budget well between gigs.
If you’re fed up of the nine-to-five and looking to take back some control of your life, and maybe see the world, here are the best travel jobs.
As a sole trader, you’re entitled to tax write-offs and buying materials at wholesale prices. Here are a few tips on what you can claim back against tax.
Knowing your worker status can have a grave impact on your taxes. Here's how to determine if you're status is self-employed or a sole trader.
If you're in business or have a company car, you need a mileage log. With a handheld mileage log app from MileIQ, wow you can stop bodging and guessing.
This free mileage log template is a spreadsheet that lets you track your business journeys for UK tax purposes. Download it today to easily log your miles.
It’s easy to quit your job and say you’re self-employed, but being your own boss has its difficulties. Here are 10 reasons self-employment can be glorious.
Even the self-employed in the UK need pensions. Here’s our guide to putting together a self-employed pension plan.
If you don’t have a regular flow of money coming in each month, then forming a budget is crucial. Here's how to plan if you have variable or uneven income.
Self-employed? No backroom staff? Don't worry. With the array of software and apps available, you can stay organised, and remain focused on your clients.
Starting an event planning business requires as much consideration as planning a complex event. Learn how to start an event planning business of your own.
The best way to get started is to pick business ideas that require minimal money and resources. We identify the best business ideas for young entrepreneurs.
How easy is landing a mortgage, especially if you’ve been self-employed for under two years? Learn how by taking a different path than normal.
The new DVLA car tax rules recently went into effect. Here's what you need to know about this road tax rule from the HMRC.
Knowing if you’re self-employed or not can have a big impact on your HMRC tax bill. Here is why your employment status affects your taxes.
Know the difference between a car allowance and a mileage allowance so you don't face a major tax bill from the HMRC.
HMRC business mileage can lead to large savings on your taxes. Learn how much it is and what it requires from your tax records.
Completing your home office expenses claim can be a fraught experience. Here�s what you need to know about claiming expenses for your home office.
Calculating your tax return and National Insurance payment doesn't have to be as complicated as you think. Here's what you should know.
Learn how working tax credits work in the UK, discover if you’re eligible and find out how you can claim them to top up your income if you’re self employed.
In this post, we’ll debunk five common myths about self assessment tax return, so you can complete your filing with confidence, save money and avoid fines.
These tax saving tips for small business owners will help you keep more of your money. These steps are simple to follow, too.
The Advisory Fuel Rates can lead to tax relief if you have a company car. Learn what these are and how to apply it to your taxes.
