eBay and Accounts

yus786

If one is earning under £10K an annum, would it be advisable to get an accountant or can this be done ourselves?

Any free accounting software out there?

Cheers

seabright

I would have thought you can probably manage it yourself, if you are OK with figures.

Set up a spreadsheet with all your business income and business expenditure. Keep all you receipts, invoices and statements - in order! Have a seperate bank account for your business.

If the thought of doing it yourself overwhelms you or worries you too much, and accountant might be worth it, for your own peace of mind.

morgani

Up to you really on how you feel. Don't forget to consider apportionment of expenses that may be used partly for business such as telephone and internet etc.

There is some free software here called VT cash book which is about as simple as it gets to use. http://www.vtsoftware.co.uk/tranplus/download.htm

Also your tax return needs to account for all other sources of taxable income as well such as bank interest, employment income, etc

If you decide to look for an accountant then look for fixed fees and find out what is and isn't included. Make sure you compare a few quotes and ensure you get on with the accountant as after all you need to be able to chat with them and trust them.