#29 Don't be surprised by your tax bill
Your tax bill is probably one of the most unexciting things to talk about. But it’s something that can often keep business owners up at night. There’s a real fear and lack of understanding around taxes and if that’s something that worries you, know you’re not alone!
After all, you don't want to suddenly be surprised on January 25th by a £5,000 tax bill and have no idea where you will get the money to pay for it.
So in this episode of The Pricing Queen, we’ll be covering:
- How much you need to put aside as a sole trader [1:08]
- Why so many sole traders get surprised by their tax bill [1:32]
- How much you need to set aside as a Limited Company [2:18]
- Who needs to pay VAT, and how this works [2:55]
- The steps you need to take to alleviate your tax fears and worries [3:44]
- A tip for those who are going to earn a lot more or a lot less this financial year [5:32]
Get help with working out your pricing - http://www.thepricingqueen.com/pricing-calculator
Free download: ‘Why all your small business income isn't yours to keep’ - https://thepricingqueen.com/tax
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