A start up to help the self employed

Hi,

I'm trying to get a new web tool off the ground for self employed workers and wanted to know if there was any interest from members on how to work out monthly self employed taxes..

I know what it's like to be self employed and the biggest 'tax challenge' each month was trying to work out how much money should be kept aside each month to pay taxes. There's no easy tool out there to help self employed workers to get this magic number and it's horrible getting a nasty surprise from the tax man each due date.

Would anybody use such a tool?

Thanks,

Tags: Employed, Self, Tax, Tool

Comment by Aernout "Arnie" Fabius on August 5, 2010 at 8:41: There are quite a few web tools available on the web and it is a very competitive market. You also need to bear in mind that HMRC are constantly reviewing the tools used. Correct me if you will, but I think all bookkeeping tools need to be registered and approved by HMRC, unless it is a spreadsheet designed by an accountant.

Comment by Andrew Halgryn on August 5, 2010 at 14:45: Thanks Aernout for your thoughts. You are right, there are tons of web tools and free calculators out there, but I'm yet to find one that a self employed person can use month-on-month, allowing for multiple income types (such as PAYE, Self Employed, CIS, interest, rental income etc.) as an ongoing 'health check' throughout the tax year. Surely this 'health check' will be valuable to those nervous about meeting with their accountant at the end of the year?

Andrew