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Running a small business is hard work — whether you are based in the North East, working with overseas clients, or living in the UK with international income. When margins are tight and tax rules are complex, every pound really does count.
At Friendly Assist Accountancy, we support sole traders, contractors, and small businesses across Newcastle, Sunderland, Durham, Middlesbrough, and beyond, including international clients, expats, and cross-border businesses. Our goal is simple: help you keep more of your hard-earned money while staying fully compliant with HMRC.
Below are practical, real-world money-saving tips to help you avoid costly mistakes and run your business more efficiently — whether your income is local, international, or a mix of both.
Small Business Tips with Big Impact
1. Keep bookkeeping simple — spreadsheets still work
Good bookkeeping does not have to mean expensive software, especially when you are starting out or managing a small business with straightforward transactions. The most important thing is keeping your records accurate, consistent, and up to date.
If you are comfortable using Excel or Google Sheets, that is absolutely fine — including for many international freelancers and expats with overseas clients.
You can still meet Making Tax Digital requirements by using bridging software that links your spreadsheet to HMRC.
Friendly Assist Accountancy Tip:
If you have overseas income or multiple currencies, start simple and add structure later. Staying organised now saves stress and tax problems later.
2. Common bookkeeping mistakes we see
We regularly help clients catch up on late or messy records — especially those with international income. Common issues include:
- Mixing business and personal spending
- Forgetting small but allowable expenses
- Not reconciling bank accounts
- Missing receipts
- Incorrect treatment of overseas income or expenses
Friendly Assist Accountancy Tip:
Set aside 30 minutes each week to review your records — or let us review them for you before problems grow.
3. Claiming for using your home as your office
Many freelancers, consultants, and international contractors work from home. You may be able to claim part of your household costs against tax.
You can use either the simplified flat-rate method or the actual cost method, depending on your situation.
Friendly Assist Accountancy Tip:
If you work for overseas clients from a UK home office, choosing the right method can make a noticeable difference to your tax bill.
4. Subcontractors, payments, and tax implications
If you hire subcontractors — particularly in construction or trades — correct handling of CIS is essential.
This applies even if subcontractors are overseas or temporarily working in the UK.
Friendly Assist Accountancy Tip:
International subcontractor arrangements often trigger unexpected HMRC rules. Always check before you pay.
5. Claiming for equipment — avoid capital allowance errors
Buying tools, IT equipment, or machinery? Capital allowance mistakes are common, especially where items are used partly for personal or overseas work.
Friendly Assist Accountancy Tip:
Maintain a simple asset log and review it annually — especially if you work internationally or relocate equipment between countries.
6. Quick savings checklist
Before submitting your next tax return, make sure you have:
- Kept consistent records
- Separated personal and business spending
- Claimed home-working costs correctly
- Checked subcontractor obligations
- Logged equipment purchases properly
- Reviewed overseas income and tax credits
- Reviewed everything quarterly, not just in January
Final Thoughts
At Friendly Assist Accountancy, we believe UK and international clients deserve clear, practical support — not jargon or confusion. Whether you are a local tradesperson, an expat living in the UK, or a business with overseas clients, we help you save money, stay compliant, and feel confident about your finances.
If you would like a review of your bookkeeping, help catching up on late tax returns, or advice on cross-border income, get in touch today. Friendly, no-pressure support is always available.