We have created a spreadsheet template for you for logging your business expenses, mileage, and income for your Sole Trader business activity.
This spreadsheet is for UK Sole Traders who are NOT VAT Registered and have an annual turnover of £83,000 or less.
You can record both mileage, income and expenditure in this same one spreadsheet, under separate tabs. And there is also a tab at the end that combines your income and expenditure to something similar to a Profit and Loss Report. And on this tab, there are also formulas that help you roughly forecast what tax will you be liable to pay once your financial year is finished.
If you use this spreadsheet throughout the financial year, then you will always have an accurate picture of the performance of your business. No need to wait till the end of the year, then get delayed finding a professional, and ultimately only end up knowing what was going on in the financial performance side of your business, once the financial year is long gone.
We believe that having this information to hand makes a huge positive impact on your mindset as a business owner.
Don't take our word for it though! Give it a go and let us know what you think about it.
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- developments to the spreadsheet, such as later version and a video about it,
- updates on our current Tax Return Prices that change quarterly, and
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