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Self employed doing own accounts?

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Mrsmack

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Hi all,
As it is coming up to the new tax year I am seriously considering doing all of my own accounting (saving myself £600 per year)

I have a small hairdressing salon and employ 1 member of staff. The salon is well established and I have had it for over 7 years.

I have researched online a little and have seen a fair few free bookkeeping programs and I am confident that I will be able to do this with ease (cash only and don't have invoiced accounts etc, literally just takings in and money out for milk, papers etc and everything else is paid via bank account)

I am unsure of the PAYE side of things and how I would go about paying my employee NI and tax etc... I need to make sure that this is done correctly and that I can issue wageslips.

My end of year self assessment I assume is just a breakdown of the salon takings and outgoings etc which should be pretty straight forward to work out if I go by my book keeping and bank statements. I assume this is just a form that is submitted to HMRC

Does anyone out there do ALL of their own accounts, payroll etc and if so what advice could you offer as to how I go about doing this and what programs I can use x
 

Cholo

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Jun 22, 2012
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I use the HMRC RTI software for payroll.

https://www.gov.uk/basic-paye-tools/download-for-this-tax-year

It's free and stupidly easy to use. It takes a maximum of about 10 minutes to do every month. The only thing that it doesn't do is payslips, but these are very easy to do yourself just taking the information from the system.

As it's HM are see they have a free support telephone line to help if you have any queries. They also have webinars so that you are aware of what you need to submit-

https://www.gov.uk/government/collections/hmrc-webinars-email-alerts-and-videos
 

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