If you find the subjects of accountancy and business administration a big of a struggle, don’t worry – you’re certainly not alone!
When starting out, many freelancers do not anticipate how much there is to learn about accountancy – from the differences between registering as a sole trader or a limited company, to learning about VAT, keeping accurate accounts, paying income tax and National Insurance and so on.
One of the biggest barriers to being more comfortable when dealing with business accounts is the jargon that is used – balance sheets, profit & loss, creditors/debtors, fixed costs, amortisation – it’s enough to make your head-spin, and that’s on top of working full-time on your own business.
Luckily, our accountancy partner Mazuma are committed to making the subject of tax and accounting easy to understand. As part of this commitment, they have just launched a completely free set of resources to teach freelancers and small business owners everything the need to know, including:
- What is a Profit and Loss account?
- How to prepare Financial Forecasts
- Which business expenses are tax deductible?
- What is Making Tax Digital?
Throughout the series you’ll meet Mazuma’s in-house experts as well as guest speakers, hear their advice and come away with a new confidence in your numbers.
Speaking about their new series of resources, Mazuma co-founder Lucy Cohen said:
“Understanding the financial and admin burdens of being self-employed can be really overwhelming – and there is a lot of bad information out there!
“I feel passionately that there should be a structured, high quality piece of education out there for small business owners, freelancers and the self-employed. That’s why we created the Mazuma MBA.”
To sign up to the Mazuma MBA series, visit: https://www.mazumamoney.co.uk/mazuma-mba-money-business-accounts/
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