The Focus: Deciding on a legal structure.
What to cover: The simple differences in liability, setup costs, and privacy. Explain how a sole trader is personally responsible for debts, while a Limited Company acts as a separate legal shield.

Replacement Session 2: Money Infrastructure – Setting Up Your Business Banking and Tax Pots

The Focus: Segregating your money cleanly from day zero to avoid an accounting nightmare.
What to cover:
- The Golden Rule of Separation: Why using a personal bank account for a Limited Company is illegal, and why doing it as a Sole Trader is an absolute nightmare for your accountant at tax time.
- Modern Business Banking: A look at traditional high-street banks versus digital business accounts (like Starling, Monzo, or Tide) that offer instant setup, low fees, and direct integration with software.
- The "Tax Pot" System: How to automate your accounting by setting up separate digital sub-accounts (pots) inside your banking app. Teach them to immediately move a percentage of every single invoice into a dedicated "HMRC Pot" (e.g., 20% for income tax/corporation tax and 20% for VAT if registered) so they are never caught short when the tax bill arrives.
- Keep the Receipts: A quick introduction to digital receipt capture (using phone apps like Dext or the built-in software cameras) to stop paper receipts from fading in a shoebox.

Events