I like many people dread the 31st of January in the UK as it’s time to make sure I’ve not only submitted my tax return to HMRC but I’ve also paid any tax I owe.
It’s a horrible task but it’s just been made a whole lot easier using a great online application called FreeAgent.
For me it allows me to keep any invoices in check, remittance notes and all my expenses (including uploading a scanned PDF copy of the actual receipt).
Then come Self-Assessment time I can see my expenses all in one place and how much I can be expected to pay for my taxes. It’s so easy it’s a dream, I can’t recommend it highly enough!
What’s more if you click through for a 30 day free trial from this link now, you’ll get a 10% discount!
Now I’ll say upfront I don’t have much experience with this sort of application and I’ve never used Sage, etc . When you sign up for FreeAgent you get your own URL (http://yourcompany.freeagentcentral.com) and login, but this has one of the easiest to use interfaces I’ve seen for something that is a very complex and powerful web application.
In a matter of an hour I had all my yearly expenses in the system and added my income and even my PAYE P60 for my Self-Assessment.
I’ve only touched a handful of the features on offer, it also allows bank account integration which I’m sure is incredibly powerful, I’ve just not used it yet!
The Features (shamelessly copied from the FreeAgent website)
- Manage Projects & Time
Manage your projects and contacts, track the time you spend and create flexible timesheet reports. - Simple, Powerful Invoicing
Create great looking invoices with no fuss. Email them to the client and easily track through to payment. - Keep track of Expenses
Keep tabs on your business and out-of-pocket expenses and quickly rebill to clients. - Superior Online Banking
Online banking that’s better than the banks. Compare accounts and track balances. - Realtime Accounts
No complicated procedures, FreeAgent simply works out your accounts as you run your business. - Unrivalled Tax Features
Our unique Tax timeline lets you see important UK income, VAT and corporate tax dates and how much is due.
