Category: Business

*Disclaimer – This blog has been created as general information and should not be taken as advice. Make sure you have the correct level of insurance for your requirements and always review policy documentation. Information is factually accurate at the time of publishing but may have become out of date.

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15:54:03 GMT • 13 November 2024

How to promote your hair salon

3 August 2023

•

9 mins read

Contributors

My main focus is managing the blog and product content for the Protectivity website ensuring everything aligns wi...

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It can be difficult to know how to promote your hair salon. After all, there’s plenty of competition in your marketplace, and it’s a challenge to stand out from the crowd. Repeat business and loyalty counts for a lot, so convincing customers to switch to your salon – even if your offering is top-quality – can take a lot of time and effort. The good news, however, is that it doesn’t necessarily have to cost a lot of money if you apply the right ideas in the right ways.

This guide is full of hair salon promotion ideas, from social media and advertising to ways you can get yourself known in your community. Whatever your promotional budget and however long you’ve been operating your salon, we’ve got ideas that can help you take your business to the next level.

Social media

No doubt you will already have some social media profiles and a good level of community and engagement within them (if you don’t, then this is something you need to address as a priority!). However, it’s important to stretch your horizons beyond your own pages and be proactive in getting involved elsewhere.

For example, being active in local community groups can help you get in front of a wider audience. While many groups don’t allow explicit advertising of services (or at least ask for permission before doing so), there’s nothing wrong with making normal posts in conversations, and benefitting from the name of your business appearing in your username.

Guest posting

The same principle mentioned in the previous point applies to social media pages that relate to your industry. It’s worth getting involved in conversations and threads that are started by industry leaders and influencers, for a number of reasons. Firstly, it gives you the opportunity to learn new trends and techniques, but it also gets you in front of potential customers who are similarly interested in that kind of content. It’s an indirect way of marketing yourself, but costs nothing and can generate substantial benefits further down the line.

Blog and video content

Forward-thinking salons and salon owners are setting up their own channels on platforms like YouTube and TikTok, producing content that potential customers can engage with.

This content often isn’t a direct sales pitch in any way: it could be a masterclass on how customers can care for their hair at home, or on how certain cuts and styles are created. You can later mix up these videos with more overt promotional activities, such as any special offers and events you have planned, once you’ve built up an interested and dedicated audience.

Don’t underestimate the amount of time it can take to develop this content, but also remember that by involving your staff and the customers who visit you, there’s a lot of fun to be had, too.

Charge a fair rate

One way many hair salons attempt to stand out from the competition is to differentiate on price, i.e. charge less than other salons in the area and try to lure customers away. Amid the cost-of-living crisis, where people in general are trying to make savings, this can be an especially attractive proposition.

However, it’s easy to take this too far, and charge rates that are so low that you aren’t making sufficient profit, or you’re so overwhelmed with interest that you end up turning customers away. Ultimately, there’s a balance to be struck between customer value and profitability, so it’s important that you don’t get tempted into selling your skills and abilities short.

Personal branding

We’ve mentioned the idea of leaders and influencers in the beauty and hairdressing industry. What’s stopping you trying to be one yourself?

As a salon owner, you can have just as much success marketing yourself as you can with your business. This is especially the case if you’ve been known in your local area for a long time, and have a reputation for great styling. This puts you in a position where people are more likely to listen to what you have to say, and are more likely to visit a salon that you’ve put your own personal stamp on.

Working to get your face into local media and across your wider customer base can help you build your brand, from which you can then apply the social media and content strategies mentioned above.

Build a community profile

Connected to the previous point, you should also be proactive in getting involved in wider activities in your local community. If there are local carnivals, fairs or street carnivals, for example, then advertise in the programmes, hold hairdressing events on stage and set up a stand where people can come and visit you.

At the time, these activities can often feel that they aren’t worth the effort, because they often don’t translate into direct sales. But don’t underestimate the long-term benefit that these community events can generate: people attending will have you front-of-mind when trying to remember local hair salons, helping you get business instead of your competitors.

Traditional advertising

While social media is an increasingly popular and valuable option in promoting a hair salon, don’t neglect the power of more traditional and physical forms of advertising. Hairdressing is one of those services, similar to painting and decorating, or building work, where people will still look for local newspapers and business directories to find a suitable business. Even placing a poster on a local noticeboard with a special offer can still work wonders in attracting new business.

Market research

The key to traditional advertising (and indeed, several of the other promotional tactics mentioned in this guide) is to know your customer. If you can understand the type of customer that you attract, then you can market to them in the right channels and maximise the effectiveness of your efforts and spending.

For example, if your clientele is generally older, then traditional advertising like local papers and noticeboards will still have some value. Alternatively, a younger demographic means that you’re best off focusing mostly on social media and content. You’ll probably already have a good idea of your customer base from who you see coming into your salon day-to-day. But surveying your existing customers by email can help you get hard evidence on who you serve and how to target them.

Paid media

If you don’t feel that your social media posts are getting the attention or engagement that you’d like, then it might be worth considering a paid media strategy. This is where you pay for posts to be displayed in user feeds, normally marked as either adverts or promotional posts. You have the ability to refine the geographical areas where these are posted, meaning you can get the biggest bang for your buck.

Promotional events and sponsorship

This is probably one of the most investment-heavy ideas on this list, but it’s one that can really generate rewards if you get it right. You can designate particular days at your salon as ‘open days’ or similar promotional events, which can bring people down to your premises and learn first-hand about your offering. And for an idea that’s a little more out of the box, why not sponsor a local female sports team in a sport such as football, hockey or netball?

Cross-promote with other local businesses

The phrase “you scratch my back, I’ll scratch yours” is just as true today as it’s ever been. Coming to agreements with other local businesses in your area (obviously not ones that are direct competitors!) can help you widen your potential customer base and get your message in front of new people. For example, you could partner with a local nail bar, whereby your leaflets appear in their premises, their leaflets appear in yours, and special discounts are offered to customers using both businesses.

Get your hairdressing insurance from Protectivity

As you can see from these ideas, some hair salon promotion ideas cost more than others. You may be tempted to make savings in other areas to find your promotional activities – but one area where you shouldn’t cut any corners is with your insurance cover.

That’s because if the unforeseen happens and you aren’t covered, the financial implications could cause long-lasting damage to your business. This applies whether you accidentally injure someone else, damage a client’s property, if you’re sued for negligence, or if someone who works for you is injured while doing their job.

Protectivity’s hairdressing insurance is specifically designed to cover you for these circumstances and more. Our cover includes public liability, equipment cover, personal accident cover, and employers’ liability (which is a legal requirement if you employ people). That way, you can promote and grow your business with confidence. We can also offer liability insurance for barbers if that’s your speciality.

Our flexible policies are available from just £4.50 a month, making it easy to fit insurance in with your other expenses and business plans. Take a closer look at our hairdressing insurance policy today.

Get Hairdressing Insurance from Protectivity

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12:39:37 GMT • 14 November 2024

How much can I earn as a hairdresser?

27 July 2023

•

8 mins read

Contributors

My main focus is managing the blog and product content for the Protectivity website ensuring everything aligns wi...

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If you love styling hair, and like to help people look fashionable and proud of their appearance, then hairdressing might well be the career opportunity for you. It gives you a chance to be creative, to work with like-minded people in a vibrant setting, and to put a smile on the faces of the people you treat.

It’s entirely possible to make a successful long-term career out of hairdressing, and to make enough money out of it to support your family and your lifestyle. However, earnings can vary substantially for a variety of different reasons, and it’s important to take these into account before you fully commit to the industry.

In this blog, we’ll answer the question of how much do hairdressers make in the UK. We’ll look at ballpark figures for full-time and freelance stylists alike, and explore some of the influencing factors that can improve or hold back your potential earning power.

How much do hairdressers make in general?

To provide a relevant guide on a hairdresser salary it’s necessary to breakdown the different type of hairdresser you might be, as this will have a significant impact. Clearly as junior, with no experience you will need training but once you are at a high level and specialising your rates will be significantly higher. Here are the most common categories:

Apprentice or trainee hairstylist

From £6.40 per hour

As an apprentice you will likely get started on minimum wage, which currently stands at £6.40 per hour for an apprentice. However, you can expect your employer to pay you minimum wage over the age of 19: 19-20yrs – £8.60 per hour or 21+ – £11.44 per hour.

Hairstylists average salary (salon based)

£20,000 – £40,000

According to the British Hairdressing Association, the typical annual earnings for a hairdresser is between £20,000 and £30,000, depending on a range of factors that we’ll explore in the next section of this guide. Those rates, of course, apply to salaried employees working either full-time or part-time for someone else, most often in a salon. However, if you take on a more senior role you could be on £40,000, in certain circumstances.

Self-employed hairdresser salary

Wide-ranging from £15-£80 an hour

For self-employed hairdressers, rates can range much more widely. It will also depend on whether you operate as a mobile hairdresser, visiting your customers, or rent space in a salon.

Beginners may sometimes charge as little as £15 per hour, but with qualifications, experience and a growing reputation, these rates can grow significantly. Experienced stylists can attract between £40 and £80 per hour (bearing in mind that some of this may be lost to chair rental if operating from a salon).

Specialist hairstylist salary

Upwards of £300 a day

Finally, it’s important to remember that hairdressing as a profession doesn’t have to be solely restricted to styling members of the public. There are plenty of businesses that need expert hairdressing services, too: advertising, marketing, modelling, fashion, TV, film and more. Indeed, at the very top end of the market, hair stylists working on TV or film productions can earn upwards of £300 per day.

What influences how much hairdressers earn?

Here, we’ll take a look at six of the biggest factors that can affect how much hairdressers get paid. Some of these will be easier to do something about than others, but nevertheless, you should still be aware of all of them so you can plan your financial and career future with confidence:

Location

Geography plays a big role in hairdresser earnings. There are two different ways that are significant:

Regional Differences in Pay
Some parts of the UK have higher average wages than others. Generally speaking, London and the surrounding areas pay more than Scotland, Wales, or Cornwall. However, moving to a high-paying location isn’t always practical.

Affluent Local Areas
Even within lower-income regions, there are more affluent communities where people have higher disposable income for beauty treatments. Mobile stylists who target these wealthier areas can maximise their earnings by catering to clients willing to pay more for convenience.

Experience and qualifications

Every hairdresser starts at the bottom and works their way up in experience, skills, and earnings. Those who make hairdressing a lucrative career continually improve their techniques and value.

Get Qualified
To build a strong foundation, obtaining the right qualifications is crucial. Salons and freelance clients pay more for skilled professionals. If you’re just starting out, aim to complete:

The National Vocational Qualification (NVQ) in Hairdressing (ideally up to Level 3)
Additional diplomas, courses, or certifications to expand your skillset

Type of work as a hairdresser

As mentioned earlier, hairdressing is a diverse field, offering various career paths:

Salon Work
If you want to work in a salon or focus on regular, public-facing styling, then that’s absolutely fine and can help give you a solid income and a regular rota of hours to work each week.

Freelance & Mobile Hairdressing
More flexible and potentially more lucrative, especially in high-income areas.

Creative and Specialised Fields

If you want to be creative and have more of an entrepreneurial spirit, then some of the other opportunities like media and fashion are well worth exploring.

Media & Fashion hairdressing can be high-paying but competitive.
Bridal Hairdressing is extremely lucrative—brides and bridesmaids are willing to pay top dollar for perfect wedding-day styling.

If you go freelance, you don’t have to be restricted to one type of hairdressing: it’s perfectly possible to work for different people on different types of styling one day to the next. If you have the skills and you’re willing to travel, it’s one of the best ways to take your earnings to the next level.

Employment status

One of the biggest variations in how much hairdressers can make is the type of employment they pursue.

Your employment setup significantly affects how much you can earn.

Working for a Salon

Provides a steady pay cheque but limits your earning potential to employer pay scales.
Can be difficult to get salary increases, often requiring switching salons for better pay.

Freelancing / Mobile Hairdressing

No income ceiling—you set your own prices.
You control your hours, but you must factor in costs (covered in the next section).

Costs

For every pound that you earn as a self-employed hairdresser, you’ll lose a fair chunk of it to cover various costs that you’ll incur. For example, if you’re operating from a salon, then you’ll have to pay to rent one of their chairs: this can often cost as much as £20-30 an hour, depending on location and type of salon.

If you’re self-employed, your earnings aren’t just what you take home—several expenses eat into your income:

Salon Chair Rental

If renting a chair in a salon, this can cost £20-30 per hour depending on the location.

Everyday Business Expenses

Equipment & maintenance
Transport costs (to clients’ homes or salons)
Advertising & marketing
Hairdressing insurance
Taxes & National Insurance (though some expenses are tax-deductible)

Read our guide to small business taxes for more information in this area.

Hours worked and rates of pay

There’s a similar divergence between employed and self-employed hairdressers when it comes to working hours and typical pay rates.

Employed Hairdressers

If you’re employed full-time or part-time, then you’ll be working to a fixed salary, or to an hourly rate which would mean your earnings go up and down depending on the number of hours you’re given. However, you may also find that you can earn more per hour by working shifts at less sociable times, such as at weekends.

Self-Employed Hairdressers

If you’re self-employed, then it’s up to you how much you make, in terms of the hours you work and the rates you charge (taking into account your expenses as mentioned previously). You have total freedom to adjust these over time as you see fit, and to create offers and incentives that attract new customers and encourage repeat business: for example, offering a loyalty discount for your regulars.

Get your hairdressing insurance from Protectivity

Whether you’re just starting out in the hairdressing profession, or you’re an experienced stylist wanting to progress, the industry is full of rewards – but it’s full of risk, too. Even the best hairdressers in the world make mistakes from time to time, and in the worst case scenario, this can lead to customers putting in substantial claims for compensation.

It’s for this reason that any self-employed hairdresser should have full insurance cover in place for all their services and equipment. At Protectivity, we offer comprehensive insurance for barbers and hairdressers, meaning you won’t end up out of pocket if you accidentally injure someone, a negligence claim is made against you, or if your or someone else’s property is damaged. And if you employ other members of staff, our cover can also include Employers’ Liability that safeguards you against any staff illness or injury.

Take a closer look at our hairdressing insurance today, including affordable pricing options that start from just £4.50 a month.

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11:32:15 GMT • 12 February 2025

Types of personal trainers

25 July 2023

•

9 mins read

Contributors

My main focus is managing the blog and product content for the Protectivity website ensuring everything aligns wi...

If you’re sporty and like the idea of being your own boss, then becoming a professional personal trainer is a stand-out career option. You can share your passion for exercise and healthy living with paying clients, and feel the satisfaction of helping them achieve their goals, whether it’s completing a marathon or just losing a couple of stone in weight.

As the personal training market in the UK has grown, so the types of personal trainers out there have diversified more and more. There are now some highly specialised PT services in the marketplace, filling specific needs with focused skills, techniques and expertise. But which one represents your perfect career aspiration?

In this guide, we’ll highlight many of the different types of personal trainers there are and give you advice on how to work out which one would be the best career option for you.

What are the different types of personal trainers?

Personal training has evolved into such a broad industry that it’s pretty much impossible to list every single type here. Instead, we’ve listed eight of the most common types of personal trainers, so that you can get a feel for the full spectrum of what’s out there:

Health and lifestyle

An increasing number of people don’t just want someone who can help them with their fitness: they want someone who can help them improve their lifestyle and wider approach to health. This is especially the case for people who are managing a long-term health problem, and need to make lifestyle changes that can accommodate their ailment but still allow them to keep fit. A lifestyle-focused PT can therefore help these people devise exercise plans that are safe, effective and helps them meet their goals – and doing so can be incredibly rewarding.

Bodybuilding and physique

Many people work out to improve their physical appearance, often to the point of pursuing bodybuilding and putting on muscle in key areas. This requires a very specific type of personal training to ensure that clients get the results they want, across detailed training patterns and highly focused nutrition plans. Taking the idea to its fullest extend, personal trainers that work with competitive bodybuilders are normally able to teach poses and other competition elements, and help keep them motivated.

General fitness

One of the most common types of personal trainers is those that work to improve a client’s overall fitness, without necessarily focusing on one specific area of improvement or development. For many people, personal trainers give them the motivation and drive they need to commit to a regular exercise regime, especially if they’re able to provide programmes that are tailored to their individual requirements. This can include diet, nutrition, medical condition management and other areas, as and when required. This type of personal trainer can also offer group training if working with people with similar goals and levels of performance.

Cardio and endurance

Anyone working towards endurance-related goals, such as running a marathon or completing a long-distance cycling trip, needs focused cardio training. That way, their heart, lungs and wider circulatory system can be better conditioned for the strain that sustained exercise will put on them. A good cardio PT can help a client safely improve their capacity in this area and develop greater capacity to perform at a higher level for a longer period of time. While this work can sometime be geared towards a particular event, runners and cyclists who compete regularly may need ongoing PT support.

Strength and conditioning

Similar to the point above, many sportspeople need specific training to improve their muscle strength in certain areas and to boost their conditioning. For example, footballers and rugby players need to be able to maintain their power and performance over an entire match, rather than drop off within the first 20 minutes. This is where personal trainers who can devise long-term plans really come into their own, helping players understand the types of workout that can help them build up the strength and longevity that they’ll need in matches.

Sport-specific personal training

If you have experience or an interest in a particular sport, then offering personal training in that sport is a great way to get involved. This kind of work requires detailed knowledge of the human anatomy, and of the demands that the individual sport places upon it. That way, a personal trainer can help athletes develop their bodies in such a way as to improve their performance and minimise their risk of getting injured. Sport-specific PT can be offered to amateur and professional athletes alike: for example, with out-of-contract footballers who are recovering from injury and need to regain full match fitness.

Gym instructors

Almost every gym will have a bank of personal trainers who will work with regular gym-goers to focus and improve their exercise regimes. It is often the first port of call for personal trainers who are new to the profession, as it helps them build up more rounded skills from which they can go on to specialise in the future. As well as working with individuals on cardio machinery and weights, many gym instructors also run group exercises like spin classes, yoga, aqua-aerobics and Zumba on a regular basis.

Mobile PT and bootcamps

Personal training work doesn’t have to take place in a gym or on a pitch. For example, mobile personal trainers will offer services in a client’s home or in a local park, bringing with them some basic equipment that a client will use. This is especially popular with people who find gym environments intimidating or have issues around body image.

In much the same vein, bootcamp and CrossFit personal trainers offer intensive workouts over a day, weekend or sometimes longer, delivering a comprehensive set of exercises and plenty of motivation along the way. This work will require some travel and time away from home, but it can be incredibly satisfying to see the difference it can make to clients in such a short space of time.

Which one is right for me as a career option?

So, you’ve had a good look at all the different types of personal trainers you can choose from as a career or business proposition. But how can you work out which one is right for you? A good place to start is considering these three factors:

Interest

It’s important that you do something you enjoy, and you’re interested in if you possibly can. If you want to become a professional personal trainer, then it’s highly likely that you have a passion for sport and fitness and have your own preferences of what you like to do. These areas will therefore give you the best chance of making it a job that you love.

Existing qualifications and skill sets

Similar to the point above, any credentials, qualifications or skills that you already possess will give you a really strong starting point. When looking for a personal trainer, clients want to know that they’re paying for someone who knows what they’re doing, and has the experience and skill sets to back that up. Anything you already have – even at a basic level – might help you get up and running more easily.

Earning potential and work-life balance

Some types of personal trainers have the ability to go on and earn big money much more than others. However, they have to work very hard, as well as often long and unsocial hours, to get to where they are today. So, you’ll need to consider what’s right for your own career aspirations and personal circumstances.

For example, operating as a general PT out of your local gym might not generate the most income. However, it would give you more regular work at more consistent hours, which may fit much better if you have a family to take care of.

Get personal trainer insurance with Protectivity

As you can see from this blog, there are so many options to choose from if you want to get yourself set up as a personal trainer. However, there’s one thing that unites them all: taking out comprehensive gym insurance cover is absolutely essential.

There’s a very good reason for this: if something unforeseen happens or a claim is made against you by a client, the financial cost could easily run into thousands of pounds. This can cause significant and long-term damage to your personal finances – but if you’re insured, then you can be sure that you won’t end up out of pocket in such a situation.

Protectivity delivers affordable personal trainer insurance policies to PTs just like you, no matter what your specialism is or how much experience you have. We can pick up the tab if you injure a client; if you hurt yourself and you’re unable to work; or if any of your equipment gets damaged, lost or stolen. Available from just a few pounds a month, our cover means you can grow your business with confidence – and could prove to be one of the smartest investments you ever make.

Start your journey towards a successful PT business by taking a closer look at our personal trainer insurance policies.

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08:38:11 GMT • 15 November 2024

Small business expenses – what can you claim for?

11 July 2023

•

8 mins read

Contributors

My main focus is managing the blog and product content for the Protectivity website ensuring everything aligns wi...

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If you’re just starting out running a small business – or even if you’ve been operating one for a while – learning about all the financial ins and outs can be extremely complex. And the world of small business expenses is certainly no exception to that.

High costs can quickly eat into your profit margin and limit the success and potential viability of your business. However, there are many different small business expenses for which you can claim the tax back from the Government, and it can make a big difference to your bottom line.

In this guide, we’ll explore a wide range of the most common small business expenses you’ll be able to claim for. You’ll also learn that while you may incur substantial costs running your enterprise, there are certain things where you shouldn’t cut corners to make a saving.

Why is it so important to claim business expenses?

If you aren’t claiming business expenses, then you’re doing the metaphorical equivalent of flushing hundreds or even thousands of pounds down the toilet every year.

Most reasonable costs that you incur running your business are considered ‘allowable expenses’ by the Government and His Majesty’s Revenue and Customs (HMRC). For a limited company, it works like this: when your accounts are calculated at the end of your financial year, your overall profit figure is your total income for the year, minus these expenses.

It is your profit figure from which Corporation Tax (CT) is calculated, so the more expenses you claim for, the lower your profit figure and therefore the lower your CT bill will be. Given the current rate of CT is anywhere between 19% and 26.5%, depending on the amount of profit you make, every £1000 of expenses you claim for can reduce your CT bill by between £190 and £265.

If you’re working as a sole trader rather than as a limited company, then a similar principle applies. However, in your case, the expenses will be claimed for as part of your Income Tax Self-Assessment, and your Income Tax bill will be reduced accordingly.

A word of caution, though: you shouldn’t try to claim for anything that isn’t related to your business operations – this is illegal. If you are investigated by HMRC and you are found to have claimed for expenses that were personal rather than business in nature, then the penalties can be extremely severe.

Types of allowable business expenses?

The range of allowable business expenses is simply vast – hence the reason that many small businesses avail themselves of a professional accountant to ensure that they’re leaving no stone unturned! Many of them are specific to certain types of business, so it’s worth doing your own research to find out those that apply to your enterprise.

Here, we’ll take a look at eight of the most common types of allowable business expense that most small businesses will generally be able to claim for:

Office equipment, property and utilities

All the costs of running an office are considered reasonable to claim for. This includes rent paid on premises; bills for heating, electricity, water, telephone and Internet access; stationery and related functions such as printing and postage; plus any property insurance that is specific to your company. If you need to use any software, then this can also be claimed for, as long as you regularly renew the licence or use it for less than two years.

If you run your business from home, then there are also certain levels of expenses you can claim, such as for a room that is dedicated as a home office.

Clothing and footwear

Anything that you need to wear as part of the job – or that your employees need to wear – can be claimed for. This includes uniforms if they’re required, as well as smart business attire for more formal settings like meetings. All personal protective equipment (PPE) is also allowable, from face masks and safety goggles to gloves and steel-capped boots. At the slightly more fun end of the scale, if you run a more creative business where costumes and make-up are used, then you can claim for these, too!

Staffing costs

If you employ people to work for you in your business – even if it’s only one person – then everything involved with them can be claimed for. After all, there wouldn’t be much incentive to grow a business if you were taxed for hiring staff!

The list in this area is comprehensive: salaries, benefits, pension contributions, Employer’s National Insurance contributions (you still have to pay them but they don’t count as profit), and equipment and clothing costs as mentioned above. Given the substantial outlay involved in hiring employees, ensuring that everything is appropriately claimed for can really relieve the financial burden of doing so.

Training and development

Whether you want to develop your own skills, or you want to ensure that a new recruit gets fully up to speed with the job, all training courses and qualifications that are paid for by your business are also allowable. In a similar vein, you can also claim for any exhibitions or conferences that you attend in a professional capacity and that you’re required to pay to attend. If you bring in a trainer or expert to run a course on your premises for you and/or your staff, then the cost of hiring their services can also be claimed for.

Transport and travel

If you have to get out and about as part of your work, from making deliveries to travelling overseas for meetings, then every single cost involved in that travel can be claimed for. If using a car, then you can claim for fuel, parking, insurance, tolls like the London Congestion Charge, and potentially the costs of maintaining the vehicle, too. You can also claim for train and flight tickets, taxi rides, any accommodation you need, and food and drink while you’re away.

Do bear in mind, however, that you would need to justify the purpose of a claimed trip if HMRC asks you to – with evidence, if necessary. It is not advisable to claim for travel and accommodation costs for your next summer holiday!

Goods

Trading in goods rather than services brings a whole new world of costs with it – but the good news is that these costs are generally considered allowable business expenses. Buying in stock and procuring the materials to make goods are allowable, as are all the costs you incur in producing items for sale (for example, the running costs of machinery).

Finance, legal and admin

As this guide demonstrates, even small businesses can be complicated to administer. There can be lots of functions – and therefore costs – involved, most of which you’re able to claim for. Accountancy fees, for example, are considered allowable, as are the fees of any legal or other professional services that you might have to use. Bank charges and credit card fees are also claimable, as well as the interest that you pay on any business loans or credit facilities that you have. It’s also possible to claim for any bad debts within your business, but you should seek the advice of a professional accountant to check your eligibility in this area.

Advertising and marketing

Last but by no means least, you can claim for anything you spend on promoting your business to your customers and the wider public. This starts small with costs like website hosting and domain names and runs all the way up to large-scale advertising and marketing campaigns (including any fees you pay to professional agencies to run these for you). Stands at exhibitions and all related expenses can also be claimed for, as well as any subscriptions you take out for trade-related journals, and memberships of professional organisations.

Get small business insurance with Protectivity

You may feel like there are lots of expenses here to get your head around, and that they could be a serious drain on your potential profitability. Whilst it might be tempting to cut corners and make savings in some places, this is definitely not advisable. Particularly so, for insurance.

Every business is vulnerable to claims for compensation when something goes wrong, but for small businesses, these claims can be especially damaging. The costs can easily run into the thousands, and can cause substantial long-term effects to your business’s viability – and in the worst-case scenario, to your own personal finances.

At Protectivity, we can make sure that these financial shocks can’t affect you through comprehensive insurance cover for a range of small businesses, from pet businesses and dog groomers to personal trainers and hairdressers. Not only do our policies give you peace of mind to grow your enterprise with confidence, but they’re also available through flexible monthly payment plans, meaning they don’t put too much pressure on your balance sheet.

To find small business insurance cover that’s right for the specifics of your operation, get in touch with our team today.

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16:42:00 GMT • 13 November 2024

Dog and pet events in 2023

6 July 2023

•

8 mins read

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My main focus is managing the blog and product content for the Protectivity website ensuring everything aligns wi...

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Barely a weekend goes by in the UK without some sort of pet or dog-related event taking place (particularly in the summer!). These can be fantastic events to attend, whether you’re looking for new business opportunities, want to meet like-minded people, or simply you fancy a doggy day out. But which ones are the best to visit in your area?

In this guide, we’ve picked out some of the best dog and pet trade shows in the second half of 2023 across the UK. Whether you’re interested in food, products, activities or just dog culture in general, there’s bound to be a pet industry trade show for you to explore.

Paws in the Park

If there could ever be such a thing as a dog version of Glastonbury, then this is probably it! Paws in the Park are huge outdoor festivals that bring all sorts of canine activities together over an entire weekend. The first event of 2023 at Ardingly in West Sussex has already passed, but the autumn version is still to come, hosted at Detling in Kent in the middle of September.

There really is something for everyone at Paws in the Park: agility events, water sports, trade stands, shows and exhibitions, and plenty of food and drink options for owners and dogs alike. Book in advance and you can even camp there over the weekend and turn it into a short, fun-packed, dog-friendly holiday.

Dogfest

Similar to Paws in the Park, Dogfest is a national tour that takes a variety of dog activities and exhibits to people all over the country every summer. There are three Dogfest dates still to look forward to in 2023, at Ashton Court in Bristol, Knebworth House in Hertfordshire and Harewood House in Yorkshire.

It’s a very active event to visit, with sport demonstrations, advice and workshops, and plenty of activities that your own dog can take part in. There’s also some fantastic food and drink to enjoy (for both human and canine consumption), and you’ll also get the chance to explore a beautiful stately home at the same time.

Edition Dog Live

Dog beauty and wellbeing has become big business in recent years, whether it’s thanks to keen owners who want their pets to look their best, or competition dog owners preparing their pooches for contests like Crufts. Either way, there are lots of businesses and treatments to explore, and Edition Dog Live – run by one of the UK’s leading dog magazines – is the place to check them all out.

This year’s event is on 27th August at the NAEC in Coventry, so the combination of a central location and a Bank Holiday weekend makes it easy for everyone to access. You’ll see a range of exhibitors across wellbeing, nutrition and holistic care in particular, so this should definitely be one in the diary for everyone who takes dog care seriously.

The Game Fair

Working dogs have very different demands to pets in terms of training, care and ownership, and so owners often need specialist products and advice to keep their dogs in tip-top condition. The best place to get those tips and insights is the Game Fair, and this year’s edition is at Ragley Hall in Warwickshire over the last weekend of July.

There is a wide selection of trade stands and retailers devoted to gundog equipment, specialist dog food, and other areas like health and wellbeing, and transportation. But the event isn’t the sole preserve of the working dog owner: in previous years, there have been dog photographers and portrait artists exhibiting too, so it may be worth a trip to see some of their examples.

North East Dog Festival

If you’re in the north of England or in Scotland, and some of the events listed above look a little far from your reach, then don’t worry: the North East Dog Festival in September has you covered.

It takes place at Kirkley Hall near Newcastle on the first weekend of September and is packed with things to do for both dogs and owners. Some of them are activities you’ll be used to such as exhibition, trade stands and dog agility trials, but there’s also plenty that you might not have seen before, such as scentventure, gundog scurries and dog parkour.

And if you’re worried that some of the activities might be a bit too ‘expert’ for your dog, then fear not: there are plenty of chances to ‘Try Your Paw’ at skills like flyball.

London Vet Show

This might not sound like the most exciting or dog-friendly event in the world – after all, what kind of dog enjoys a trip to the vet? But if you run a dog business that’s involved with health and wellbeing, then this could well be worth a visit to Excel in London on 16th and 17th November.

You’ll get to hear from some expert speakers who’ll give you a real insight into the present and future of animal health. But there are also a huge range of exhibitors with innovative products that are breaking into the market, or that will be making their own mark in the months and years ahead. Whether you want to find products to sell, or want to get your own concepts to a wider, engaged audience, this isn’t an event for you to miss.

BETA International

This is a good show for people who live in the countryside, or love to take their dogs there. This show at NAEC Coventry on 10th-11st September isn’t just a dog show: it’s aimed at the wider pet, equestrian and countryside industries, too.

There are countless retailers and exhibitors showing off the latest products and techniques, and it’s an excellent place to meet people with similar interests. This is an especially good show to visit if you’re running a dog-related business and want to get your products out to a wider audience.

All About Dogs

This is another fantastic tour of fun dog festivals that tours the country during the summer, and there’s one more still to come in 2023, at the Norfolk Showground over August Bank Holiday weekend.

This is one of the best events to go to if you want to get your dog to try lots of different activities: lure racing, dock diving, fastest recall and flyball are all available to sample. You’ll also get to see some displays from some superb dog teams, and there are also four show rings and nearly 50 classes that are open for you to enter. As well as a range of exhibitors, there will also be expert advice on offer from certified animal behaviourists and more.

Looking ahead to 2024

If you don’t have the time to make it to any of the above events still to come this year, then there are plenty of excellent dog and pet events to enjoy in 2024, too.

Crufts

Crufts has already confirmed its return to the NEC in Birmingham for 7th-10th March next year, and needs no introduction for anyone who loves their dogs. The Kennel Club’s showpiece event has been running since 1891 and now attracts more than 18,000 competing dogs each year. Outside of the contests, there are also demonstrations by emergency service and medical detection dogs, and the chance to see virtually every breed of dog that the Kennel Club recognises.

Woofstock

Down in Devon at Powderham Castle, Woofstock is a dog festival by day and music festival in the evening, making it a perfect weekend getaway for dogs and owners alike. The 2024 edition is on 14th-16th June and tickets are already on sale. And at the Goodwood Estate in West Sussex perhaps better known for the Festival of Speed, Goodwoof features competitions, workshops, talks and free interactive activities in a beautiful setting. Next year’s event will take place in May, with the exact date being confirmed soon.

Get pet business insurance with Protectivity

Whatever your interest in visiting pet trade shows later in 2023, it’s likely that you’ll be attending in a business capacity. And however you want to grow your business and increase your profitability, you need to do so in the confidence that you’re insulated against any financial shocks beyond your control. The best way to do that is to make sure you have the best-quality insurance cover in place for your specific enterprise.

Protectivity has years of experience insuring entrepreneurs like yours across a range of different canine businesses, including insurance for dog walking, dog grooming insurance, pet sitting insurance and much more. That way, if you’re subject to a compensation claim, or an accident or injury occurs to you, a customer or a dog, you won’t end up out of pocket. Depending on the policy, we may also be able to insure your equipment, and cover you for Care, Custody and Control.

Take a couple of minutes today to explore our full range of pet business insurance policies and find one that’s right for you.

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16:43:03 GMT • 13 November 2024

What skills and qualities do you need to be a personal trainer?

16 June 2023

•

6 mins read

Contributors

My main focus is managing the blog and product content for the Protectivity website ensuring everything aligns wi...

Personal trainers are in high demand in many parts of the UK, as people of all levels of fitness look for support in improving their performance or in losing some weight. At first glance, it’s easy to think that learning how to become a personal trainer is relatively simple, and just needs some decent know-how on fitness and exercise. But there’s a lot more to it than you might think.

Running a personal training operation is much like running any small business, and needs a certain level of aptitude in many different areas, from promoting your enterprise to how you deal with customers. In this guide, we’ll explore eight of the most important skills you need to be a personal trainer, including:

Fitness knowledge
Marketing skills
Communication
Positive attitude
Willingness to improve
Reliability
Flexibility
Patience

Fitness knowledge

Firstly, let’s cover off the obvious: you’ll need to have strong, up-to-date knowledge of training routines, general health and fitness trends, and how different exercises and techniques can affect the human body. If you don’t have any formal qualifications in this area, it’s essential to get some so that you can run a professional operation and give your customers confidence that they’re in good hands.

Marketing skills

Getting your name out there and finding new clients is a major challenge, especially when you’re starting out from scratch. But it’s crucial that you learn how to market your enterprise well (if you haven’t done so already): that means engaging and interesting posts on social media, a clear and well-written website, and creating eye-catching advertising within your local community. The personal training market can be saturated and competitive in some places, making it especially important to stand out from the crowd.

Communication

This is one of the most important skills on this list, not only because it’s how you can help your clients get the most out of their sessions, but also because it’s a very flexible skill. No two clients will be the same, and while some will like to be strongly encouraged and pushed to their limits, others will respond much better to a softer approach. Understanding different clients’ feelings and how best to connect with each one of them individually is absolutely key.

Positive attitude

The last thing anyone who is struggling will want is to feel downbeat about their performance. Criticism that isn’t constructive will not go down very well – especially given that your clients will be paying you for the privilege! Try to put a positive spin on everything as much as you can, especially at the end of a session: this will maximise the chances of a client wanting to persevere and continue to use your services in the future.

Willingness to improve

Just as your clients come to you so that they can improve themselves, so you should make the same effort to lead by example and improve yourself. As well as maintaining a good level of fitness, you should also take a continuous approach to learning about new techniques and training styles, and pick up more qualifications as and when you can. The personal training sector can change very rapidly in terms of customer demand and new trends, so it’s vital to stay on top of things.

Reliability

Your clients will be paying you good money for a session at a designated time, and won’t be happy if you continually turn up late or without all the equipment that’s needed for the session. If they can’t trust you to deliver a reliable service that helps them meet their goals, then they can easily find another PT who will. Make sure you turn up on time, every time, and always give every session 100% commitment.

Flexibility

If you want a nine-to-five job, then being a personal trainer is most definitely not the job for you. Most clients will want their sessions to fit around their work and home lives, which means weekday evenings and weekends will be most in demand. This applies whether you’re self-employed, or are working as a PT in a gym. So you’ll need to be prepared to work unsociable hours, and to adjust to short-notice demands as and when required.

Patience

It can be easy to forget that the people that you’re training aren’t as proficient or knowledgeable about fitness as you are. Similarly, they may not have the drive or discipline to stay fit and eat healthily outside their sessions, meaning they might not make the progress either they or you would like. That’s why it’s vital to be patient with your clients and encourage them along, without rushing them or making them feel like they’re under pressure.

Get personal trainer insurance with Protectivity

Very few personal trainers start out with every single one of the above skills covered: it’s a learning process to work out where you’re strong, and identify the other areas where you need to improve. And because nobody is perfect, it’s easy for mistakes to be made along the way – which can cause a problem if there are financial consequences as a result.

That’s why every personal trainer, whether they operate outdoors or in a gym, should always have comprehensive insurance cover in place. That way, if someone gets injured while taking part in one of your sessions, or any of your equipment gets lost, damaged or stolen, you won’t end up out of pocket.

Protectivity is one of the UK’s leading providers of personal trainer insurance, and our policies include public liability cover, professional indemnity, and up to £250 of free cover for your equipment. Take a few minutes to explore our personal trainer insurance policies and gym liability insurance and discover how they can give you all-important peace of mind as you grow your business.

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16:46:04 GMT • 13 November 2024

Personal trainer quotes

14 June 2023

•

8 mins read

Contributors

My main focus is managing the blog and product content for the Protectivity website ensuring everything aligns wi...

Personal training isn’t just about the physical exercise: it’s also about getting maximum mental performance and drive out of a client, so that they can push themselves on to achieve their goals. That’s why motivating clients – and motivating yourself – is such an important part of the trade.

To give you some inspiration, we’ve put together this compilation of some of the best personal training quotes around. Not only can you use them within your sessions to inspire your clients to greater things, but they can also be used as social media content to help you promote your business to a wider audience.

So that you can find the right personal trainer quotes for your needs, we’ve curated them into four categories: inspirational, motivational, funny and thought-provoking.

Inspirational personal trainer quotes

“The hard days are what make you stronger.”

“Continuous improvement is better than delayed perfection.”

“It is not the size of a man but the size of his heart that matters.”

“You don’t train to add days to your life. Instead, you work out to add life to your days.”

“When you feel like quitting, remember why you started.”

“If you fail to do what’s best for the body, you are setting your body up for failure.”

“Fitness is not about trying to be better than those you train with. It’s all about being fitter than you used to be.”

“You will never know what your body can do, unless you are willing to push yourself to the limits.”

“Muscles work like cars. If you want them to run well in the morning, you must be ready to warm them up first.”

“The difference between your body this week and next week is what you do for the next seven days.”

“Of course it’s hard. It’s supposed to be hard. If it were easy, everybody would do it. Hard is what makes it great.”

“You are only one workout away from a good mood.”

“Sweat is just fat crying.”

“Do something today that your future self will thank you for.”

“No matter how many times you come up short during your workout or how slow your progress is, you are much better than everyone else who hasn’t started.”

“If you want something you’ve never had, you must be willing to do something you’ve never done.”

“You may hate every minute of your training. But, you should never consider quitting, regardless of how tough it gets.”

“You either have results or excuses. But you can’t have both.”

“It may hurt you today, but you will be stronger tomorrow.”

Motivational personal trainer quotes

“It never gets easier. You just get better at it.”

“I can accept failure, everyone fails at something. But I can’t accept not trying.”

“You miss 100% of the shots you don’t take.”

“A one-hour workout is 4% of your day.”

“Shift the focus from what your body looks like to what it can do.”

“Don’t stop when you’re tired. Stop when you’re done.”

“What seems impossible today will one day become your warm-up.”

“We don’t need to be perfect… we just need to get started.

“The same voice that says “give up” can also be trained to say “keep going”.

“You can’t put a limit on how much you can improve and how much you can do. There are no limits on what you can be, do, or have in life.”

“Each day is another chance to change your life.”

“Procrastination is one of the most common and deadliest of diseases and its toll on success and happiness is heavy.”

“The only way to do great work is to love what you do.”

“If you think you can do a thing or think you can’t do a thing, you’re right.”

“Motivation is what gets you started. Habit is what keeps you going.”

“You can’t out-train a bad diet.”

“Every morning we are born again. What we do today matters most.”

“A goal is a dream with a deadline.”

“Whether you think you can or think you can’t, you’re right.”

Funny personal trainer quotes

“I hate personal trainers because they make me do things I don’t want to do.”

“If you still look good at the end of your workout, you didn’t train hard enough.”

“I need to get in shape. If I were murdered right now, my chalk outline would be a circle.”

“I’m always weirdly proud when my pee is clear…”

“I hate cardio.”

“No pain, no gain. Shut up and train.”

“Don’t give up on your dreams. Keep sleeping.”

“Sore? Tired? Out of breath? Good… it’s working.”

“I’m sorry for what I said when I was hungry.”

“Unless you puke, faint, or die, keep going!”

“It’s your workout. You can cry if you want to.”

“My favourite exercise is a mix between a lunge and a crunch… I call it lunch.”

“The only BS you should need in your life is breakfast and squats. Nothing more, nothing less.”

“Train like a beast and look like a beauty.”

“Aspire to be a MILF: Mom In Love with Fitness.”

“Dear Abs, I may not see you, but I feel you brewing something serious under that layer.”

“My gym playlist is 50% music, 50% grunting noises.”

“If I worked out every time I said “I’ll start tomorrow,” I’d be a fitness model by now.”

“My fitness goal: to have a body that makes people question if I have a life outside the gym.”

“The only bad workout is the one you didn’t post on social media.”

“I don’t sweat, I sparkle.”

“If fitness came in a bottle, every person would have a killer physique.”

“I love working out so much that I sometimes wear my gym clothes to bed just in case.”

“If you want to know the correct way to perform an exercise, the answer is: “Whatever hurts most”.”

“I have trust issues because of personal trainers who say “last one”.”

Thought-provoking personal trainer quotes

“Challenges are what make life interesting; overcoming them is what makes life meaningful.”

“The only limitations that exist are the ones you create in your mind.”

“Believe in yourself, and anything is possible.”

“Progress, not perfection, should be the ultimate goal in fitness.”

“Your body can accomplish almost anything. It’s your mind that you need to persuade.”

“You are going to achieve your fitness goals if you are persistent. And you are going to keep pushing if you are consistent.”

“Life has its ups and downs. And they are called squats.”

“Your body is a reflection of your lifestyle; make it a masterpiece.”

“Whether you think you can crack that workout or you think you cannot, either “answer is right. It all depends on your mindset.”

“Exercise not only changes your body, it also changes your mind, your attitude, and your mood.”

“It’s not about having time; it’s about making time for what matters.”

“Remember that every accomplishment starts with the decision to try.”

“The only way to achieve the impossible is to believe it is possible.”

“Success is not just about what you achieve in the gym, but also how you apply those lessons to your everyday life.”

“Every day is another chance to transform your body and become a fitter version of yourself.”

“It’s not about how much time you spend in the gym, but the quality of your workouts and your dedication to change.”

“Fall in love with taking care of your body, and it will take care of you in return.”

“When you feel like giving up, remember why you started in the first place.”

“Pain is temporary, but quitting lasts forever.”

“Your mind is your strongest muscle; train it well.”

“Success in fitness is built on a foundation of consistency and discipline.”

“You can’t control everything, but you can control your effort and dedication.”

Get personal trainer insurance with Protectivity

As motivated and positive as you and your clients might feel thanks to these personal trainer quotes, there is still the risk of something going wrong during a session. If either you or a client gets injured, or some of your equipment gets lost, stolen or damaged, you could suffer serious financial loss – however inspired you might feel.

Comprehensive insurance cover is the only way to protect yourself and make sure you don’t end up out of pocket. Protectivity’s policies for personal trainer insurance give you a range of different cover types, including public liability, professional indemnity, and up to £250 of free equipment cover. So even if the unforeseen happens during your PT sessions, you’ll still be able to grow your business with confidence.

Our policies are available from just a few pounds a month, thanks to our flexible payment plans. Take a closer look at our personal trainer insurance and gym public liability insurance policies today.

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16:48:14 GMT • 13 November 2024

Businesses you can start for under £1000

6 June 2023

•

8 mins read

Contributors

My main focus is managing the blog and product content for the Protectivity website ensuring everything aligns wi...

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Millions of people all over the UK dream of being their own boss and starting their own business. And while it’s unlikely that an entrepreneur will become the next Elon Musk or Jeff Bezos, it’s still immensely rewarding to start a business from scratch and develop it into a viable, profitable success.

The only problem that stands in many people’s way is the need to ‘speculate to accumulate’: that is to say that it can take a lot of initial investment to get a business idea off the ground. This can be off-putting if it involves getting into large amounts of debt in the early stages, or simply impractical for those who don’t have access to that kind of startup capital.

However, that doesn’t mean that it’s impossible! There are countless small business ideas out there that require minimal initial outlay – and in some cases, nothing at all – making them viable for anyone who wants to strike out on their own. In this guide, we’ve picked out 14 of our favourite small business ideas that can be set up for less than £1000.

Online retail

The ability to buy and sell goods from anywhere in the world has fundamentally changed the retail world forever, and opened up new opportunities for small business operators to grab their own slice of the action. You don’t need a huge amount of capital to get things up and running: just the right platform for selling your goods, and an initial amount of stock to get you started. By taking small steps, you can gradually grow your business without taking on too much debt.

Reselling and upcycling

These are two trends which have gained real popularity as hobbies in recent years, but have now grown to the extent that many people are now pursuing them as full-time jobs. Whether you find bargains in charity shops, in auctions, at car boot sales or from other sources online, selling on goods for profit can help generate a good income if you know what you’re looking for. It’s a relatively simple business to set up and manage, too.

Creative services

If you have a creative mind, then there are many different options that you can explore on a freelance basis. If you’re a good wordsmith, for example, then you can work as a copywriter, while those of a more artistic bent may want to consider becoming graphic designers and web designers. These are jobs that are perfectly practical to do from home – all you’ll need is a good computer, internet connection and any relevant software.

Pet grooming

When it comes to hiring, there are two ways in which people make mistakes when starting a business. The first is taking on too many full-time staff members too soon. The second is not bringing in any help at all.

When your business is still finding its legs it’s important to strike a balance between areas where it’s more important to save time, and where it’s more important to save money. Bringing in staff, be they full-time or part-time, can help to spread the workload, saving you time and energy, but it runs the risk of being a drain on your funds – at least at first.

Pet-sitting

When pet owners go away on holiday or for work reasons, they want to make sure that their dogs, cats and other animals will be cared for. Putting them in kennels and catteries can be expensive, so hiring a home-based pet-sitter is often a cheaper and more personalised alternative for them. You can provide a dedicated service that caters for an animal’s specifics, and you have full choice of which pets you’re willing to accommodate and which ones you aren’t.

Tutoring

There are always people who want to expand their education and knowledge, whether training for a particular qualification, studying for an exam or even just learning to play a musical instrument. In any of these cases – and a whole lot more – you can offer one-to-one tuition from the comfort of your own home. Along with your expertise, you’ll need some relevant qualifications, plus a DBS check if you’re planning to tutor children.

Cooking and baking

If food is your passion, then why not take that passion to a wider audience? All over the country are bakers, caterers and street food vendors that started their business on the strength of their own recipes and ingenuity. If you’re able to travel to events to sell your creations, then your expenses are pretty much limited to your transportation costs – as just about all the other equipment you’ll need is already in your kitchen!

Hairdressing

You have two equally exciting options to pursue if you have talent and experience in cutting and styling hair. The first is to provide hairdressing services from a designated space in your own home; alternatively, you could set yourself up as a mobile hairdresser and provide sessions in customers’ homes instead. Either way, you’ll enjoy full flexibility in when you work, and can enjoy all the rewards of your efforts.

Beauty treatments

Similar to the hairdressing services mentioned above, the same principle applies to all sorts of beauty treatments, as long as they don’t require lots of space or specialist equipment. For example, there’s nothing to stop you offering manicures and nail-painting services from your own home, or the homes of customers, rather than having to invest in expensive high-street retail space.

Laundry and ironing

If you’re going to do housework, then you might as well get paid for it! There is a substantial marketplace for laundry and ironing services, from people who need a freshly ironed shirt for work to those who need their clothes washed, but don’t have the time or the appliances in their own home. If you already have a washing machine, iron and ironing board, then you’re good to go – although you may want to consider transport costs so you can offer collection and delivery, too.

Dog walking

Britain is a nation of dog-lovers, and there are lots of dog owners out there that don’t have the time to give their pet the exercise it needs… which is where you can come in as a professional dog walker! While dog walking fees are relatively small – between £10 and £15 per hour is commonplace, depending on the area – you can multiply this by walking several dogs at the same time. This makes it a lucrative job you can do in your local area.

Life coaching and therapy

Any services that involve simply talking to someone, or conducting a physical treatment, can be done from home (as long as you have the suitable qualifications and experience). Putting in place all the equipment to offer massages and physiotherapy may require more of a substantial investment. But areas such as mental wellbeing help and life coaching can be more viable – and can help you make a genuine positive difference to people’s lives.

Handyman/handywoman

Some people are much better than others at DIY and other repairs, and those who don’t are often willing to pay to get somebody in to do a job properly on their behalf. If you have a bit of common sense, you’re good with your hands and you’ve got a basic set of tools, then you can start a business doing odd jobs and other minor bits of work. You’ll need to be able to travel, but it will be mostly light labour – and you’ll probably get offered plenty of tea!

Event organiser

While there are countless jobs that can be done from home with a computer, one that you may not have considered is organising events professionally. From weddings and funerals to village fetes and sports competitions, many large-scale events need a coordinator who can pull everything together and make sure that everything runs smoothly on the day. As a freelancer, you have total freedom to pursue the types of events that interest you the most.

Get small business insurance with Protectivity

Even if your small business idea needs very little startup capital – or none at all – you’ll still need to take action to protect your revenue and assets as you grow. That’s because you never know what might happen, and even a minor issue that is beyond your control can easily escalate into a substantial claim for compensation.

At Protectivity, we’re dedicated to making sure that aspiring entrepreneurs like you don’t end up out of pocket when unfortunate or unforeseen circumstances arise. That’s why we provide a wide range of affordable small business insurance policies for a variety of different specialisms, such as hairdressing and pet businesses insurance, with additional policies such as event insurance and counsellors insurance.

To find out more on our policies and how we can protect your business, get in touch with our team today.

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16:50:14 GMT • 13 November 2024

How much tax would I pay as a limited company?

2 June 2023

•

11 mins read

Contributors

My main focus is managing the blog and product content for the Protectivity website ensuring everything aligns wi...

Get small business insurance from Protectivity

Starting a small business can be extremely exciting and rewarding. If there’s something you’re passionate about, you’ve spotted a gap in a market, or you just want to be your own boss, then there are plenty of opportunities out there for you to become an entrepreneur. And perhaps the best part about it is that there’s no limit to how successful your business can be and how much money you can make… except one.

Tax isn’t exactly the most fun part of doing business but it is an unavoidable fact of life. As a small business owner, you’ll be required to pay tax not only personally, but also for the limited company you operate. Unfortunately, this can be a fiendishly complicated subject to deal with, as there are many different taxes, thresholds, rates and deadlines to comply with.

This guide makes all the basic ins and outs of limited company tax digestible and easy to understand. If you’re starting a small business, or thinking about doing so, then it’s essential that you understand the key facts around tax – even if you intend to recruit a qualified professional to take care of your tax affairs on your behalf. We’ll cover all the main kinds of tax both you and your company will have to pay, how to (legally) reduce your tax bills, how to get help with tax, and the other key considerations to make as you begin your business adventure.

What types of tax does a limited company pay?

There are five main kinds of tax to watch out for if you’re running a limited company. Some of them may not apply to your business, and you may be able to apply for reliefs and exemptions for others. However, you should keep abreast of all of them, as the thresholds and requirements are liable to change on a regular basis (especially in the Government’s annual Budget, usually announced in March).

Corporation tax

So, how much is corporation tax for a limited company? Well, there’s no fixed answer to that question, as it depends on a number of things.

As and when your company makes a profit, you will be required to pay a certain proportion of it as corporation tax. Your profit is defined as your takings for the year, minus any wages and dividends you pay out, any pension contributions, any expenses (more on that below) and any allowances or reliefs that you may be entitled to.

The rates that apply depends on how much profit you make within your accounting year. Your first £50,000 of profit for the year is taxed at 19%. After this, a tax rate of 26.5% is applied to all profits up to the £250,000 mark, then 25% after that. This is so that larger companies pay tax at a higher rate overall, because it means that all companies that make more than £250,000 profit in a year pay a total rate of 25%.

Employer’s National Insurance contributions

If you employ any staff within your limited company (even just one) then you will be required to make National Insurance contributions, on top of those that employees make themselves out of their wages. These contributions also have to be paid on any employee benefits and expenses that employees claim. The rate is generally 15.05%, although people including the low-waged may be exempt.

Business rates and small-business rates relief

The simplest way to describe business rates is that it is the business version of council tax. It applies to any properties within your company that are primarily used for business purposes; if you are a one-person business working from a computer at home, then business rates generally don’t apply.

While the costs of business rates to your local council can be substantial, there are several reliefs available to small businesses that can lower the size of bills, or sometimes wipe them out altogether. These include (and are not necessarily limited to): farm buildings, religious buildings, properties used for the disabled, and businesses with a low rateable value. Retail properties can also apply for 100% business rate relief for three months.

VAT

If your business turns over more than £85,000 in any 12-month period, you are legally obliged to register for Value Added Tax (VAT). If your turnover is below the threshold, you can also voluntarily register for VAT as it can sometimes be advantageous to do so. The current VAT rate is 20%, and you’ll be required to charge it on top of your normal fees for any goods or services you sell, and pay it for any that you buy.

The amount of VAT that you have to remit to His Majesty’s Revenue and Customs (HMRC) is whatever you’ve taken in VAT from other businesses from your sales, minus any VAT you’ve paid out in goods and services you’ve bought. So, for example, if you’ve collected £10,000 in VAT within a three-month period, and you’ve paid out £3,000, then you owe £7,000 to HMRC.

The good news is that the system works both ways: if you have paid out more in VAT than you’ve taken in, then you can apply to reclaim VAT from HMRC and they will refund you the difference. As the example here, if you’ve paid out £5,000 in VAT, but only taken £1,500 in, then HMRC should pay you £3,500.

Capital gains tax

If you are a limited company, then capital gains tax (paid on any profits you make by selling assets) doesn’t apply in the same way it would to a sole trader or a partnership. However, you are required to pay corporation tax on the profit instead: the money you make will count as part of your overall CT profit and therefore taxed at the applicable rate (see above).

What kind of personal tax would I have to pay as a limited company owner?

As the owner and director of a company, you will naturally want to take some (or all!) of the fruits of your labours as your earnings. There are a number of different ways to do this that are open to you, and which will be better will depend on the state of your business and your own personal circumstances. But in general, there are two main taxes that will apply to you personally:

Income tax for employees

Much as you would if you worked for another business, any wages you take are taxed according to normal income tax rates.

As of the 2023/24 tax year, the first £12,570 you earn each year are exempt from any income tax, but all your earnings beyond this up to £50,270 will be taxed at 20%. Earnings beyond this are taxed at 40%, and if you’re doing well enough to be earning more than £125,140 a year, then the highest rate of 45% applies. Please note that slightly different thresholds apply in Scotland.

You’ll also have to make National Insurance contributions in the same way as a ‘normal’ employee. This is in addition to the Employer’s National Insurance contributions mentioned above.

Dividend tax

You can pay dividends out of your company to yourself whenever you want, but this will be subject to dividend tax. As of the 2023/24 tax year, the tax-free dividend allowance is £1000, and this is expected to be cut again to £500 in 2024/25. Beyond this, dividends are taxed at 8.75%, which still represents a tax-efficient way to pay yourself compared to regular income tax.

However, if your normal pay plus your dividends totals more than £50,270 a year (which would normally move you into the higher rate of income tax), then you’ll have to pay 33.75% dividend tax on all your dividends above this threshold.

When should limited company taxes be paid?

These requirements vary from one tax to another, depending on the time of year you started your business, how much you pay yourself and other employees, and whether certain taxes are applicable to you. As a general guide, the following timescales normally apply:

Corporation tax: nine months after the end of your business year (i.e. if your business year runs from 1 January to 31 December 2023), then your Corporation Tax bill will be due around the end of September 2024

VAT: this should be remitted to HMRC quarterly, no more than 37 days after the end of each designated three-month period. You are still expected to submit a VAT return every three months if registered, even if you don’t have any VAT to pay for that period

Business rates: you will normally receive a business rates bill around February or March, detailing the monthly instalments you’ll be required to pay for the following financial year

Employers’ NI: should be paid at the same time as you make each payment of wages to your employees (i.e. weekly or monthly)

Income tax and dividend tax: this could be through Pay-As-You-Earn, an annual Self-Assessment with associated payments every six months, or a combination of the two

What should I do about tax when starting a limited company?

If you’re worried that the above is overly complicated and too much to keep track of, then don’t panic: you’re certainly not alone in that. Even the most experienced entrepreneurs and small business owners can find limited company tax requirements perplexing.

That’s why it’s always a good idea to hire the services of a good accountant when starting a limited company. They will be fully up to speed with everything mentioned in this guide, and any upcoming changes that may affect you. They will be able to organise your payslips and tax returns, and give you all the information you need about what you need to pay and when.

How can I legally reduce my limited company tax bill?

Tax evasion is illegal and never a good idea, even if your business is struggling. However, the complexity of tax regulations means that there are a number of legal ways that you can reduce the amount of tax your or your business has to pay. Using dividends instead of PAYE to pay some of your wages, as mentioned earlier in this guide, is an excellent example of this and common practice among small business owners around the country.

This is another area where having an accountant really comes into its own. They’ll have the expertise and experience to advise on areas where you can bring your tax bill down, such as business expenses you can claim that you may not have been previously aware of. While you’ll need to commit a certain amount of money to hire an accountant’s services, they can often save you many times you outlay in tax each year, making it a very worthwhile endeavour.

Get small business insurance with Protectivity

If you’re just starting out with a small business, there’s a lot to get your head around – and tax is just one of the complex challenges to navigate. Given the risks of starting a business, anything you can do to protect yourself and your enterprise from financial harm is worth doing, which is why good insurance cover is essential right from the start.

At Protectivity, we specialise in comprehensive insurance cover for countless small businesses just like yours. We offer hairdressers insurance and insurance for pet businesses and dog groomers. We can give you peace of mind that if the unforeseen happens, such as an injury or damage to property, you won’t be out of pocket. Our flexible, affordable policies start from just a few pounds a month, meaning you can safeguard your future without breaking the bank.

To find out more on our policies and how we can protect your business, get in touch with our team today.

Get Small Business Insurance from Protectivity

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