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Business Basics Module 3: Law, tax and finance

Business Basics Module 3: Law, tax and finance

This module covers: the Legal Structure of a business: A layman's explanation of the business structures most applicable to a therapist (depending on the type of therapist you want to be and how large you would like to grow), and business planning based on these legal structures. In the downloadable resources you have part three of your business plan to fill in whilst watching this video. Next we have Tax - explained: We’ll look at when and how to to declare your business to the HMRC as well as what filling in a tax return really entails because remember, there isn’t a “therapists tax return”, it’s for everyone! A tax return isn’t something that’s complex and secret so in the downloadable resources I’ve included screenshots of my own sole trader tax return as well as some of the questions you can expect in a corporation tax return as these are included in the slides and the script version of this course. We’ll also take a brief look at what you can and can’t claim on your tax bill. Finally we move on to The basics of finance: so how to take payments from clients including cash, Bacs, PayPal, and using card machines. I’ll explain budgeting for tax and how to do a P&L (profit and loss) spreadsheet as well as alternatives like book keeping software. We’ll take a look at business bank accounts and their costs and benefits. YOUR DOWNLOADABLE RESOURCES INCLUDE:

  • Business plan part 3
  • Comparison of the legal structures Sole Trader V Corporation in a spreadsheet
  • Sole trader tax and Corporation Tax rates
  • Screenshots of my sole trader tax return (provided within the slides)
  • A basic finance spreadsheet to get you going (P&L)
  • Tech radar list and reviews of top ten free accounting software of 2019
  • Simply Business accounting software review
  • Simply Business 7 best business bank accounts
  • HMRC Support email
  • Script
  • Slides
£35.00