Claiming Food When You’re Self-Employed

If you are travelling around for business reasons it can mean food ends up costing you more money than normal. Especially if you work from home! There are rules that allow you to claim for food when you’re self-employed helping you to reduce your tax bill. When Can You Claim for Food Generally speaking, you (more…)

Is Self-Assessment the Same as Self-Employed?

Self-assessment is not the same as self-employed.  But they are connected. What is Self Assessment Self-assessment is the term given to the system by which anyone who receives untaxed income need to declare it to HMRC. Untaxed income can take many forms, not just self-employment such as: Dividends Interest Rental income Sale of properties Anyone (more…)

Self-Employed Tax Rates 2019/2020 (and 2018/2019)

The 2019/2020 tax year begins on the 5 April 2019 and if you are self-employed here are the new tax rates that will affect you. Personal Allowance The personal allowance is the amount you are allowed to earn tax free. The Personal Allowance you are entitled can increase if you claim the Marriage Allowance or Blind Person’s (more…)

Tax Advice for Self-Employed Gardeners

Here’s some tax advice for self-employed gardeners to help you understand: What taxes you need to pay; How to reduce your tax bill; More about self-assessment tax returns. Not yet registered as self-employed? Here’s how to do it What Taxes Do Self-Employed Gardeners Pay Self-employed gardeners are responsible for working out their own taxes and (more…)

PAYE Payment Reference for HMRC

PAYE Payment Reference for HMRC. Using the correct PAYE reference is crucial because it lets HMRC know how to allocate the payment you are making. Here’s how you work out your PAYE payment reference. As an employer, using the right payment reference for HMRC PAYE is essential for getting your payments over on time, allocated (more…)

Is Airbnb Considered Self-Employment?

Airbnb has become a popular way for people to make some extra cash and bump up their income. But does that mean you are considered self-employed? And do you need to let HMRC know what you are doing? Is Airbnb Considered Self-Employment? No, Airbnb is not considered self-employment. It’s easy to confuse Airbnb with self-employment (more…)

HMRC Advisory Fuel Rates 2019/2020

What Are the HMRC Advisory Fuel Rates for 2019/2020? The HMRC Advisory Fuels Rates are the amounts set out by HMRC that you need when: reimbursing employees for business travel who have company cars; setting rates that employees repay businesses for private fuel use on fuel cards; calculating VAT on mileage claims. You’ll need to (more…)

Should I Register my Business for VAT?

Businesses are responsible for collecting VAT from end consumers on behalf of the government – they collect VAT from their customers then pay it over to HMRC deducting any VAT they may have paid. Read on and find out more about the thresholds, legal requirements and how to register.     How Do You Know (more…)