Ask Mike - Bookkeeping - Club - Coach - Latest - Self-Employment - Tax

Do I need an Invoice before I pay a self-employed coach?

April 23rd, 2017

questioniconYou should ensure that you have a contract with the self-employed worker that states that they will only be paid on submission of a detailed invoice and the contract should also state that the self-employed worker will only be paid if the work delivered is to the satisfaction of the client (the organisation paying the worker).

You should also ensure that you are actually given a valid invoice by the worker and not just a timesheet.        So what should a valid invoice consist of?

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Ask Mike - Bookkeeping - Club - Coach - Latest - Tax

How Long Do We Have To Register For VAT?

April 15th, 2017

questioniconYou have one calendar month to register for VAT if your ‘vatable’ income from services you have provided for the previous 12 months has exceeded the VAT threshold limit (currently £82,000 as at July 2015).

Your ‘vatable’ income is the income from services you provide that is subject to standard, reduced or zero rated VAT.     You do not include any services that are exempt from VAT or that are outside the scope of VAT in the income calculation.     What income should and shouldn’t be included will depend on your legal status, e.g. a not for profit club’s membership income is exempt from VAT and therefore would not be included in the ‘vatable’ income calculation.

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Ask Mike - Club - Coach - Latest

Does a Coach have to do a Risk Assessment before Coaching?

March 20th, 2017

It is VERY good practice for a coach to confirm in writing that they have carried out a risk assessment before they start a coaching session.    It is also likely to be a requirement in terms of insurance to prove that ‘reasonable care’ was taken.

If the coach works/volunteers for an organisation, it is the responsibility of the organisation to document what the risk assessment should include and then send this in writing to the coach to action.     The coach will not need to tick each item on the list – it will be sufficient to have a checkbox on the register that the coach ticks to confirm the checks were completed.

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Bookkeeping - Coach - Latest - Self-Employment - Tax

Mortgages for the Self-Employed

March 9th, 2017

peniconThere are many benefits to being a self-employed coach – freedom to work where you want, ability to claim expenses, flexibility in the hours worked – but one issue we get asked about by coaches that causes them problems is getting a mortgage.

If you are an employee, all you will need is two or three payslips and a copy of your contract of employment.    The self-employed will find it harder to get a mortgage and the interest rate charged may be higher than that for an employed person.

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Club - Coach - Latest - Social Media

5 Free Tools to Make Social Media a Breeze

March 7th, 2017

tipiconSocial media services such as Facebook, Twitter and Google+ are becoming an increasingly vital part of any club/coaching programme’s marketing strategy, both as a way of attracting new members/customers and also engaging current members.

However, there is such a wide variety of accounts that are available, it can be difficult to manage your social media strategy. In this post we detail five free tools that you can use to help the management of your social media accounts.

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Club - Coach - Latest - Wordpress

Is Your Website Mobile Friendly?

February 12th, 2017

More websites are now accessed from mobile phones and tablets than from desktop computers so it is important that your club or coaching business website is ‘responsive’, i.e. it recognises that it is being viewed on a phone/tablet and automatically adjusts its layout accordingly to make it easy to navigate/view.

Accessing a website that isn’t responsive can be very difficult on a smart phone/tablet and many people will just give up if your website can’t cater for smart devices.    If your website isn’t responsive, the good news is that there are many platforms available that are automatically responsive and will also provide you with a future proof site that is easy to setup and maintain.

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Bookkeeping - Club - Coach - Latest - News - Tax

VAT Registered Clubs and Coaches – Are You a Limited Cost Trader?

February 2nd, 2017

Some VAT registered clubs and coaches who are on the Flat Rate scheme may see the amount of VAT they pay increase to 16.5% of their turnover when government changes to the flat rate scheme are imposed from 1st April 2017.

The changes were announced in the Government’s Autumn Statement and were introduced to counter ‘misuse’ of the scheme, whereby businesses were incorrectly using the wrong flat rate category.

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Ask Mike - Club - Coach - Latest - Marketing - Social Media - Web Design

Where Can I Get Help with My Facebook Profile Images?

January 27th, 2017

questioniconThere are two images that you can display on your Facebook page – the cover photo (the large photo displayed at the top and full width of the Facebook page) and the profile picture, the square inset image displayed over the bottom left of the cover photo.

Both photos must be of specific dimensions to display successfully and these dimensions will need to cater for cropping by Facebook.    Many people struggle with getting the sizes right, which is why we recommend using CANVA, a free online graphic design software tool that requires very little knowledge to get professional results.

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Bookkeeping - Club - Coach - Latest - Tax

Tax Inspection Insurance – Is It Worth It?

January 22nd, 2017

tipiconThere are two potential financial outlays for a club or coach when they are selected for a tax inspection – the possibility of having to pay backdated tax/penalties and the cost of using an accountant to represent the club/coach throughout the investigation.

The first can only be minimised by ensuring all tax affairs are in order.   The cost of the accountant can be minimised through tax inspection insurance and should not be underestimated – a recent investigation for a sports club in the north of England resulted in a bill from their accountants of over £4,000 for representing the club during the seven months the investigation lasted.      The club were offered tax inspection insurance by the accountancy firm but decided that the £165 cost they were quoted was money they could save.

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