Guest Speaker- Chris Dilks - Accountant
The first guest speaker we had for this week was from Chris Dilks who spoke about his firm Anthonisz Neville and made us start to think about our future and what we may need to do in order for our career to work. Anthonisz Neville is a niche firm based on accountants and auditors with 3 partners working alongside them. Here are all the notes taken from the talk:
- Use your own time more effectively
- They assist in financial planning and review your performance
- Understand business
Trap of D.I.Y
- Saving costs but wasting time
- Lack of knowledge and expertise
Types of Income
Employee
- Contract of service which consist of set hours and pay
Self Employed
- You are responsible for your own tax and N.I
- You are your own boss and have an agreed fee
- You provide all the equipment
When do you register? things to consider
- Where am I going to find my clients?
He then began to explain what you are able to claim VAT (tax) back from and what you can't actually claim back anymore which was quite interesting to here exactly what can be claimed as a business expense.
Expenses
> Travel
- Cars, trains, buses, taxis
- Anything related to a business
- Every pound you get could save 20p or similar of tax
