
1. What about my tax?
When you become self-employed, you are responsible for your own tax. Do not wait until the end of the year to think about it.
- Keep records of money in and out
- Keep invoices, receipts and bank records
- Put money aside from every payment
- Ask an accountant about Self Assessment, CIS and expenses
TradeQuote Pro helps keep customers, projects, quotes, invoices and payments organised so you are not searching for everything later.
2. Do I need a separate bank account?
Yes, it is a good idea. Even if you start as a sole trader, keeping business money separate from personal money makes life easier.
- Use one account for customer payments
- Pay materials, fuel, tools and insurance from it
- Keep a separate tax savings pot
- Check weekly what has come in and gone out
Clean records help you understand whether the business is actually making money.
3. What should I call my business?
Choose a name that is simple, professional and easy to remember. Think about how it will look on quotes, invoices, your van, workwear and website.
- Avoid names that are too long or hard to spell
- Check it does not look too similar to a local competitor
- Use a clear logo and consistent branding
TradeQuote Pro lets you add your business name, logo and contact details so your documents look professional from day one.
4. What startup costs should I expect?
Starting up usually costs money before you earn properly. Spend carefully and only buy what helps you work safely, price properly, look professional and get paid.
- Tools, PPE and vehicle costs
- Insurance, phone, workwear and signage
- Software, training and accountant fees
- Materials for first jobs
5. What can I claim against my business?
You may be able to claim allowable business expenses, but they must relate to the business. Keep receipts and do not guess.
- Materials, tools and PPE
- Business fuel, parking and van costs
- Insurance, phone, stationery and software
- Relevant training and accountant fees
Ask an accountant if you are unsure. Do not claim personal spending as business spending.
6. Do I need an accountant?
You can start without one, but good advice early can prevent expensive mistakes.
- Tax returns and allowable expenses
- CIS, VAT and business structure
- Payroll if you employ people
- Understanding your numbers
TradeQuote Pro keeps job information organised before it reaches your accountant.