Manage your invoices, expenses, and taxes efficiently.
Use the form to create invoices for your customers. Select a plan or enter a custom item. Update status to track payments. Download as PDF for records.
What is an Invoice? An invoice is a document sent to a customer requesting payment for services or products provided.
How it Works: Enter customer details, select a plan (Basic: £50, Standard: £120, Premium: £200) or specify a custom item with an amount. Set the status (Draft, Sent, Paid, Overdue) and add notes if needed.
Status Tracking: Use "Draft" for new invoices, "Sent" when emailed, "Paid" when payment is received, and "Overdue" for late payments.
Download PDF: Generates a professional PDF with your business details and invoice data for sharing or record-keeping.
Example: For a Premium plan sale to "John Doe" on 2025-09-06, select "Premium," enter customer details, set status to "Sent," and generate the invoice. The PDF will show £200 due.
Tip for £10,000/Month: Generate invoices promptly after a sale and set reminders for "Sent" invoices to avoid overdue payments. Use the Summary tab to track outstanding invoices.
Log all business expenses here. Specify if VAT is reclaimable for accurate tax calculations. View the chart to analyze spending by category.
What is an Expense? Business expenses are costs incurred in running your business, like marketing, equipment, or travel.
How it Works: Enter the expense description, amount (excluding VAT), VAT rate, and category. Check "VAT Reclaimable" if you’re VAT-registered and can reclaim it. The total (amount + VAT) is deductible for income tax if not VAT-registered.
VAT Reclaimable: Only check if you’re VAT-registered and the expense qualifies for VAT reclaim. Unchecked expenses exclude VAT from reclaim calculations.
Categories: Organize expenses into Marketing, Equipment, Travel, Supplies, or Other for better tracking. The pie chart shows spending distribution.
Example: Log a £100 fuel expense (excl. VAT) with 20% VAT (£20). Total deductible is £120. If VAT-reclaimable, £20 is included in VAT returns; if not, only £100 is deductible for income tax.
Tip for £10,000/Month: Log expenses daily to avoid missing deductions. Use categories to identify high-spending areas and optimize costs. Check the P&L tab for profit impact.
Total Income:£0.00
Total Expenses (excl. VAT):£0.00
Total VAT:£0.00
Total Deductible:£0.00
Net Profit:£0.00
View your income (from invoices) minus expenses (excl. VAT). Net profit is used for tax calculations. Filter by time to spot trends.
What is Profit & Loss? P&L shows your total income (from Invoices) minus expenses (excl. VAT). Net profit is what’s left after expenses, used to calculate taxable income.
How it Works: Income comes from invoices (e.g., £200 from a Premium plan). Expenses (excl. VAT) are from the Expenses tab (e.g., £100 fuel). VAT is shown separately for VAT returns if registered. Total Deductible (Amount + VAT) is for income tax if not VAT-registered.
Time Filter: Use the dropdown to view data for the current month or quarter to spot trends.
Example: You earn £500 (invoices) and spend £100 (fuel, excl. VAT) + £20 VAT. Net Profit = £500 - £100 = £400. If not VAT-registered, deduct £120 (Total Deductible) for income tax.
Tip for £10,000/Month: Check P&L weekly to ensure expenses don’t exceed income. Use negative profit (in red) as a warning to cut costs. Review Summary tab for expense breakdown.
Enter your taxable income (Net Profit from P&L) to estimate Income Tax and National Insurance. Select the tax year for accurate rates.
What is Taxable Income? Taxable income is your Net Profit (Income minus Expenses, excl. VAT) from the P&L tab.
How it Works: Enter your taxable income and select the tax year. The calculator uses HMRC rates (2024-2025 or estimated 2025-2026) to compute Income Tax and Class 4 National Insurance (NI).
Tax Rates (2024-2025): 0% up to £12,570; 20% on £12,571–£50,270; 40% on £50,271–£125,140; 45% above £125,140. NI: 9% on £12,571–£50,270; 2% above £50,270.
2025-2026: Rates are estimates and may change. Always verify with HMRC.
Example: Taxable income of £50,000 in 2024-2025: Income Tax = (£50,000 - £12,570) * 20% = £7,486. NI = (£50,000 - £12,570) * 9% = £3,368.70. Total = £10,854.70.
Tip for £10,000/Month: Use Net Profit from P&L as your taxable income. Deduct Total Deductible (if not VAT-registered) or Expenses (excl. VAT) before calculating tax. Export data from Summary for HMRC submissions.
| Invoice # | Customer | Amount | Status | Date | Actions |
|---|
Total Outstanding:£0.00
| Category | Amount (excl. VAT) | VAT | Total | Reclaimable VAT |
|---|
Total VAT:£0.00
Total Deductible:£0.00
Monitor outstanding invoices and expense categories. Export data for HMRC submissions.
What is the Financial Summary? This tab shows unpaid invoices and expense breakdowns by category, helping you track cash flow and tax obligations.
How it Works: Outstanding Invoices lists all non-paid invoices (Draft, Sent, Overdue) with actions to edit or delete. The Expense Breakdown table shows totals by category (Amount, VAT, Total, Reclaimable VAT).
Total Outstanding: Sum of all unpaid invoice amounts.
Total VAT: Sum of reclaimable VAT from expenses (for VAT-registered businesses).
Total Deductible: Sum of Amount + VAT for all expenses, used for income tax if not VAT-registered.
Export HMRC Data: Downloads a CSV file with all invoices and expenses for tax reporting.
Example: If you have a £200 unpaid invoice and £100 fuel expense (excl. VAT) + £20 VAT, Total Outstanding = £200, Total Deductible = £120. If VAT-reclaimable, Total VAT = £20.
Tip for £10,000/Month: Review outstanding invoices weekly to chase payments. Use the expense breakdown to identify high-cost categories (e.g., Marketing> 20% of expenses) and optimize spending. Export data for HMRC quarterly.