Prowess Journal

Prowess

SINCE 2002 · WOMEN IN BUSINESS

How to Calculate Tax on Self-Employment Income in the UK

When you work for yourself, no employer deducts Income Tax and National Insurance before paying you. Every invoice lands in your account gross, and it is your job to work out how much to set aside for HMRC. Learning how to calculate tax on self-employment income properly keeps you out of debt, avoids late-filing penalties, […]

5 Ways to Streamline Your Business Finances in 2026

For any woman entrepreneur or self-employed professional in the UK, streamlining your business finances is not just about saving hours; it is about staying compliant with HMRC, protecting cash flow, and making decisions based on accurate numbers. 1. Automate Your Bookkeeping and Invoicing Manual spreadsheets and paper receipts slow you down and increase the risk […]

Self Assessment for self-employed women: 2026 guide

Completing your Self Assessment tax return is a quick and easy exercise… if you are organised and alert. If you’re not, I know from bitter experience, it’s a costly hassle. Learn from my goofs and get it right first time!