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This Freelancer Bookkeeping Basics Quiz turns all those important money concepts into simple, real-life scenarios so you can test your knowledge without the boring jargon.
Ready to see how well you know your books? Let’s begin!
Think you’re a bookkeeping ninja? Prove it.
Ben mixes personal and business spending in one bank account. What problem might he face?
Being unable to open a savings account
Losing access to online banking
Confusing personal and business expenses
Paying higher National Insurance
Correct!
Wrong!
Sarah is a freelance photographer. She uploads receipts and records expenses but never checks her bank transactions. What key bookkeeping step is she missing?
Reconciling her bank account
Reviewing monthly profit
Uploading receipts
Sending invoices
Correct!
Wrong!
Omar uses his personal phone for both business and personal life. His bill is £30 and 50% is business. What should he do?
Claim none of it
Claim only the personal portion
Claim the full £30
Claim only the business portion
Correct!
Wrong!
Jade earns £45,000 and is not VAT-registered. What does MTD require her to do right now?
Do nothing yet
Register for Corporation Tax
File monthly tax returns
Switch to digital tax submissions immediately
Correct!
Wrong!
Tom wants the simplest freelance setup with the least admin. Which option fits best?
Limited company
Charity structure
Sole trader
Partnership
Correct!
Wrong!
Priya earns £2,000, spends £500, and wants to know how much she can withdraw. What must she understand first?
The VAT threshold
Salary calculation
Her profit
Her bank fees
Correct!
Wrong!
James sends an invoice in January but gets paid in March. When should he record the income?
When the client pays him
When he remembers
When he files his tax return
When he sends the invoice
Correct!
Wrong!
Maria works from home and wants to claim home office expenses. What should she do?
Avoid claiming anything
Claim 100% of household bills
Only claim expenses with paper receipts
Use either the simplified flat rate or a fair percentage of bills
Correct!
Wrong!
A client pays Lewis in cash. What should he do?
Record the income and include it in his bookkeeping
Only record it if it’s over £100
Spend it immediately
Keep it off the books
Correct!
Wrong!
Harriet earns £80,000 as a freelancer. Which MTD rule applies to her?
She must use MTD software from April 2026
She is exempt from MTD
She only needs MTD if she registers for VAT
MTD starts for her in 2030
Correct!
Wrong!
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Freelancer Bookkeeping Basics Quiz
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