Yours 4 A Day
Yours 4 A Day Ltd. The Working Persons Accountant

National Insurance

Explanation -National Insurance

You pay National Insurance contributions to build up your entitlement to certain state benefits, including the State Pension.

You pay National Insurance if you’re:

16 or over
an employee earning above £149 a week
self employed making a profit over £5,725 a year (unless you get an exception)

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7 Tips to help you with your bookkeeping!

  1. Have 12 envelopes or a 12 pocket concertina file to put your purchase invoices in….one for each month
  2. Any purchase receipt that is not clear, write a note on it so you don’t forget
  3. Keep unpaid sales invoices separate from paid, so you can ensure none get missed
  4. Keep a separate bank account for all business transactions
  5. Reconcile your bank account on a regular basis
  6. If you are a limited company you only need an accountant to sign off the final accounts, a bookkeeper will do the bookkeeping much cheaper (check us out for great rates!!)
  7. Complete your bookkeeping regularly (at least monthly if not weekly) to ensure you don’t miss anything
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