Getting set up
Start your records the right way: keep business money apart, know what to keep, and build a simple income and expenses record.
This path is practice in how the records and the sums work. It is not tax advice. Any rate or allowance in a question is an example for that question, so check GOV.UK for the current figures.
Rooms in this module
How this works
Each room answers one problem. A task is a few lines of reading, then questions you answer in the books: post to an account, type a figure, sort, match or write a journal. Every answer is marked at once, with the rule behind it. There are no videos.
Words in this module
- Drawings
- Drawings are money or goods the owner takes out of the business for their own use. They reduce capital.
Questions
How many rooms and questions are in Getting set up?
5 rooms and 43 questions. Every question is marked at once.
How long does it take?
About 41 minutes in all. A room takes 8 to 9 minutes, so you can do one at a time.
Is it free?
Yes. Every room in this module is free, and you can start with no account.
What should I do first?
Nothing. This is the first module of Self-employed: your books and Self Assessment, so you can start here.