After navigating your way through our FAQ: What is personal services income and do I earn any? blog the next step is to determine if your business is a personal services business (or a PSB). The good news is the restrictions around a PSB are not as tight as personal services income (PSI). But first, what is a PSB?

Inspired by tidying queen, Marie Kondo, in our last blog post, we looked at the basic benefits of spring cleaning your business . Now you’ve let go of what you don’t need, and created some order around what you’re keeping, let’s go deeper into organising the business-specific categories. To recap, in her book, Kondo suggests a specific order to sorting your categories, from easy, low value items, through to rare or high value items that evoke an emotional response. Sorting your items this way makes it easier and less painful, so you’re more likely to commit to completing the task. With that in mind, I’ve devised the following order to help simplify sorting your business categories…