Monthly Archives: May 2021

Hot Business News Today

5 most common tax mistakes when you’re self-employed

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Originally written by Simon Thomas on Small Business
What’s worse when you’re self-employed? Having to pay your tax bill, or making a mistake and finding out you’ve overpaid?
Filing your small business taxes each year does not have to be stressful or painful. Tax can be a bit of a headache for anyone in business, and for the self-employed, it’s no different. The danger of getting taxed wrongly could mean submitting tax returns late, incorrectly, or not at all, leading to some hefty penalties and time-consuming investigations from HMRC.
>See also: How the newly self-employed should navigate the complex SEISS process
However, if you make sure to do little bits of work throughout the year, filing your taxes can be quite straightforward.
5 most common tax mistakes when you’re self-employed
Some stresses are easily avoidable. Make sure to avoid these 5 common tax return mistakes that many self-employed people make:
#1 – Not registering for self-assessment
If you earn more than £1,000 from one or more trades, you must register with HMRC. People commonly confuse this with the basic personal allowance and believe they do not need to register with HMRC unless they earn over a certain threshold.
This, however, isn’t the case.
Everyone is entitled to earn a certain

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Hot Business News Today

The Start-Up Series competition – over £1 million invested in latest winners

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Originally written by Nick Ismail on Small Business
In September 2020, Small Business and Worth Capital partnered to re-launch The Start-Up Series – the UK’s largest seed funding competition.
Since then, five new winners have received a combined total of over £800,000 of equity investment from The Start-Up Series Fund and private investors. Three former winners have also gone on to receive over £300,000 of follow-on funding from the same source after achieving their impressive growth targets. All investments were subject to further due diligence carried out by Fund Manager, Amersham Investment Management.
Following the latest investment round completed in early April, Hayley Etherington, Business Operations Director of Worth Capital, said: “As the Start-Up Series approaches its 5th birthday later this year, we take great pride in having meticulously selected and crowned 25 competition winners from thousands of applications across the UK. They’ve received over £5.3 million in SEIS & EIS equity investment — that’s real cash, creating real innovation and jobs, and building loved brands.
“We welcome these latest five ambitious start-up businesses to the Worth Capital family with great optimism. As always, we’ll be working hard alongside the talented founding teams over the coming months and years, helping them to avoid risks

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