Code

Authors • 

Lucinda Watkinson

Lucinda Watkinson

Lucinda is our Deputy Head of Accounting and has been helping startups and small businesses with their accounting for over 12 years. Since Lucinda joined the Crunch team in August 2015, she’s worked tirelessly to ensure our industry-leading accounting processes are streamlined and accurate.

Accreditations & Qualifications

  • Fully qualified FCCA accredited accountant

Name

Lucinda Watkinson

Social Media Links

All articles by

Lucinda Watkinson

Increase in National Insurance and Dividend Tax from April 2022, image of a nurse tending to an elderly person | Crunch
News and opinion

The UK government have announced an increase to National Insurance and Dividend Tax, which come into effect in 2020.

Business mileage rates – who can claim and how much does HMRC allow? Image of a driver on a dark night | Crunch
Tax

When you’re self-employed, or director of your own limited company, it can be confusing to know how to claim back business mileage. We've got you covered.

Cryptocurrency, cryptoassets, tax and HMRC investigations, image of Bitcoin | Crunch
Tax

Cryptocurrency is becoming more and more popular, but what's HMRC position on it, and can self-employed people do business with it?

How to claim the fifth Self-Employment Income Support Scheme (SEISS) grant, image of someone wiping a table | Crunch
Personal finance

HMRC will allow you to apply for the fifth and final COVID-19 Self-Employed Income Support Scheme grant (SEISS) in July 2021.

Crunch
Tax

Thinking about contracting in Europe or further afield? Learn all about your tax liabilities and how to maximise your take home pay working abroad.

VAT registration and reporting explained, image of a man working out tax on a calculator | Crunch
Tax

Although the ins & outs may be tricky to grasp for first-timers, the sooner you get your head around the HMRC VAT system the sooner you can benefit from it.

New tax year new you - Crunch - image of fireworks
Tax

Want to make this tax year the most profitable yet? Our top financial resolutions and guidance will set you on the course to success.

Is my contract inside our outside IR5 - Crunch - image of a man looking at papers
Tax

If HMRC decide your contract is inside IR35, it can be a costly and time consuming. We look at the best ways to ensure you're not caught out.

File you Self Assessment early - Crunch - image of hands and a calculator
Tax

Filing early will mean you avoid the mid-January dread felt by many freelancers & contractors, and enjoy a well-earned worry-free rest over the holidays.

Tax rates, thresholds, and allowances, image of a pound coin | Crunch
Tax

There are many different tax rates in the UK affecting both individuals and businesses - we've pulled them all together so you can keep on top of them.

How much should I take as a salary? British pound coins | Crunch
Tax

What's the most tax-efficient salary to take as a company director? Here are the benefits of taking a high or a low salary, without the jargon.

Freelancing on the side, image of a woman doing taxes | Crunch
Tax

Here's how to make sure you're paying the right amount of tax when deciding to freelance on the side, and how to stay in HMRC's good books!|Here's how to make sure you're paying the right amount of tax when deciding to freelance on the side, and how to stay in HMRC's good books!

Crunch Free - Simple Online Bookkeeping
Tax

Freelancer, contractor, or small business owner looking to reduce outgoings and increase productivity? There’s a new solution - Crunch Free!

Crunch - Image of someone struggling with bookkeeping - The value of bookkeeping software for small businesses
Tax

Bookkeeping software may not be able to make bookkeeping fun, but it can definitely make it much easier. Here's a few ways how.

Grants, loans and freebies: financial help for your business
Get paid

A handy side-effect of the entrepreneurial zeal sweeping the country is that there are now many schemes in place specifically to help small businesses.

Managing business expenses: How to record, store and back-up your receipts, image of someone at a laptop | Crunch
Tax

Expenses are great. By claiming all your allowable expenses, you reduce your company profits, meaning less tax to pay on them. Here's what to do.

Benefits of an online accountant - Crunch
Tax

Why use online accounting software when you can download an Excel spreadsheet for free? Well, the reasons are numerous.

What is a limited company? Crunch - image of people looking at computer screens
Limited company

Limited companies are governed by the regulations contained in the Companies Act 2006. All company registration & records are managed by Companies House.

Employment intermediaries rules: how to work out if you're affected, image of co-workers talking | Crunch
Employment law

When is a business classed as an intermediary, and what does this mean for intermediary businesses and contractors? Our article has the information you need to know about employment intermediaries, whether your business is one, and what is expected of you if you are.

Changes to off-payroll working (IR35) rules effective from April 2020
News and opinion

Get your small business insured in minutes. With our low premiums & low excesses, you’ll be amazed how affordable business insurance can be. Contact us now!

Tax

So, you're a small business owner who is VAT registered. Therefore, you have to add VAT onto your invoices or the goods you sell.

Dividends - What Are They and What Taxes Do I Pay on Them? Image of someone working on a tablet | Crunch
Tax

Dividends are payments made to company shareholders from company profits after corporation tax. If you run a ltd company they can be really tax-efficient.

HMRC & Companies House late filing & payment penalties for 2021/22, image of an hourglass beside money | Crunch
Tax

How to stay on top of the deadlines for your tax filings as a freelancer, contractor or small business in the UK.

What is a director’s loan account, and what are the tax implications? | A freelancer hard at work | Crunch
Tax

This article will cover exactly what a director’s loan is, the HMRC rules, and your tax obligations. So you'll avoid any problems or unexpected tax bills.

What is a P11d - Crunch. Image of a woman on a laptop
Tax

Confused by P11D forms? Unsure whether you need to file one? Want to avoid the common mistakes? Read our articles and you'll be an expert in no time.

Tax

If you pay for something for your business with your own money don't forget to claim it back as a business expense, we show you how.

Can I make pension contributions through my limited company?
Tax

Payment on account is not something that is widely known about among people who have never been part of the Self Assessment system. Learn more now!

Someone registering as self-employed
Becoming self-employed

Planning on registering yourself as self-employed? Here are the boxes you need to tick to make sure you stay in HMRC’s good books.

Becoming self-employed

If you are running a limited company without a shareholder's agreement, you'll want to read on about this important legal documentation and why you need it.

Self Assessment: What happens if I miss the deadline?, image of coins on a table | Crunch
Tax

If you don’t file your Self Assessment and pay any tax due by 31st January deadline you’ll face fines – and potential extra penalties. Here's all the info.

HMRC
Tax

HMRC's systems can be a little tricky to navigate, and you might not always know which department you're looking for. Thankfully, we've compiled a handy guide to point you in the right direction.

Contracts

We take a look at the pro's and con's of subcontracting and how it can be utilised by freelancers who need a bit more help with projects.

Sole Trader vs Limited company or umbrella - what's best. Image of a team of people working on a project | Crunch
Becoming self-employed

There are advantages and disadvantages to each approach, particularly when it comes to tax issues. Here's what you need to know!

What is a zombie company - Crunch - image of a pound coin and a graph
Get paid

What are zombie companies and are they necessarily bad for business and the economy? We take a close look at them and what to do if you become one.

People discussing advisor concept
Running a business

What are your options when you are working as a contractor? We take a look at the pro's and con's of both agency work and finding clients directly.

A meeting with a lawyer
Becoming self-employed

Freelancers need all the legal advice they can get. Here are six things you need to know (but might be afraid to ask your lawyer).

Non-compete clauses: Advice for freelancers and contractors, image of a business meeting | Crunch
Running a business

Some clients insert non-compete clauses into contracts, curbing your freedom to work. But you don’t need to be held captive. We explain without the jargon.

Can I claim lunch expenses?
Tax

Claiming back money spent is one of the biggest perks of being self-employed - but you can't just claim everything. What's the deal with lunch expenses?

Leasing through your limited company
Tax

What is leasing? And how do you go about leasing through your limited company? We explore your options and the pro's and con's.

Volunteers
Tax

We all agree that donating to a charity is good for everyone but did you know that there are tax-efficient benefits to donating? We take a look.

What sort of travel can I claim for as a limited company? | Crunch, image of someone on a bus
Tax

As a limited company, your travel expenses are generally allowed as a business expense where all of the following conditions apply you are responsible for paying the travel costs, the travel is necessary for your work. Find out more here!

Crunch
Tax

Find out what's actually on a Limited Company Statement of Financial Position (formerly referred to as a Balance Sheet), and why you might need one.

Company year end accounts checklist for limited companies, image of a woman typing at laptop | Crunch
Tax

A company year end can be a daunting undertaking for first-time limited company directors. However it needn't be the end of the world. Here's what you need to know to get your year end accounts sorted.

International currency
Get paid

If possible, you should always asked to be paid in your native currency, as an appropriate rate elsewhere can be a very low rate in the UK.

Tax

If you’re hoping to start the new tax year afresh, a full check-up like this will give you some sound knowledge of your business and what you could be achieving, leaving you confident and assured about the future.

Worker conducting some research, image of someone working at a desk | Crunch
Tax

If you've undertaken some R&D work, or even if you’ve worked for another company on a project, you could be due Research and Development tax relief.

A tattooed freelancer doing their taxes
Tax

We take a closer look at how the new Flat Rate VAT scheme and the Limited Cost Trader test will affect you if you’re a VAT registered small business.

Crunch
Running a business

From 6th April 2020, all new agency workers must be given a ‘key information document’ (KID) before agreeing terms with an employment business or agency.

RTI How-To: Filing for free with Basic PAYE Tools, image of someone working | Crunch
Tax

Do you find Real Time Information confusing? We show you how you can download PAYE tools and how to use them in order to make your filing simpler.

Expenses

Recent changes to the way you claim travel and subsistence expenses have left small business owners bewildered. We take a close look.

Traffic
Expenses

HMRC set rules which will determine whether you have the right to claim travel and subsistence expenses whilst you work - check out our guide.

HMRC
Tax

In the 2014 Budget, the government revealed they were handing new powers to HMRC to recover debts. We look at the legislation and what this means.

Crunch
Tax

Received an email about a tax refund and not sure it's real? We'll teach you how to recognise and deal with HMRC tax refund email scams quickly and easily.

Crunch
Tax

Are you planning on hosting a summer party for your employees this year? We look at the exemptions that are awarded to you by HMRC and the rules.

Subcontracting abroad
Tax

Small businesses and freelancers alike need to wise up to the tax implications of subcontracting to workers abroad. We explore.

Why business owners love us

Sonia

September 2, 2021

James Faalvey who is an accountant was fantastic during our long call. He was very knowledgeable. Helped to understand my personal situation and gave me advice accordingly. He was detailed, thorough and very patient as I had a lot of questions. I really appreciated his expertise and guidance.

More

Alina Z

September 1, 2021

I recently switched to Crunch premium, and it has been great experience. My account manager is Aidan, and he really makes accounting not so horrible! Greatly recommend! The app is also very easy to use!

More

Sian

August 27, 2021

Phil and Karly at Crunch Mortgages really helped make our lives easier as we decided on our forever home. Unfortunately due to complications we had to restart the process with 3 different properties and they were both extremely supportive, providing us with updated figures and documents and continuously checking in with the progress made. We finally completed today and could not be happier with the service we received.

More

Running a business can be confusing. We're here to help.

We’ve got over 10 years experience and have helped over millions of businesses with guidance and advice. Our knowledge articles, jargon-free business guides, handy videos and helpful tools and calculators will help answer all your questions. We’ve even got a free self-employed community, Crunch Chorus, with over 50,000 members just like you.