Thousands of Self-Employed Workers Overpaid SEISS Grant
HMRC has admitted making mistakes when calculating self-employed entitlement to the SEISS grant meaning thousands have been overpaid.
Tax
Free tax tips and advice for UK self-employed, freelancers and sole traders
How to Calculate Class 4 NICs
You pay Class 4 NICs when you are self-employed earning over a certain threshold. In this guide, I show you what those thresholds are and how to calculate class 4 NICs payable.
What is Gift Aid and How Does it Work?
Gift aid is a UK tax incentive scheme that allows charities to claim back an extra 25% on eligible donations made to them. In some cases, the taxpayer making the donation can also claim a tax rebate on their tax return.
Sole Trader Tax Guide
The complete guide to sole trader taxes, filing tax returns and claiming expenses, reliefs and allowances that reduce your tax bill.
Tax Tips for Sole Traders
Whether you’re starting out, are a seasoned professional, or finally deciding to go into business for yourself – tax can quickly become a costly nightmare. So, here are some top tax tips for sole trader to take the sting out of tax time and reduce your tax bill the legal way. Open a Separate Business … Read more
Self Employed Tax Explained
In this guide I answer common questions about self employed tax that I see online and was most asked in my previous life as a Chartered Accountant.
Starting Rate for Savings
The starting rate for savings allows certain UK taxpayers to earn £5,000 of savings interest without paying tax. Find out what you are eligible for here and how you can claim it.
What Counts as Taxable Income in the UK?
Taxable income is the income that you must pay tax on in the UK. Not all types of income are taxable, some are non-taxable, tax-free or covered by income tax allowances and reliefs. Use this checklist to learn which ones are taxable and which aren’t.
Income Tax Allowances and Reliefs
Here are the main income tax allowances and reliefs that reduce the amount of tax you have to pay. The ones you can claim depend on your personal circumstances and business spending.
Personal Savings Allowance
The personal savings allowances lets UK individuals earn a certain amount of interest on their savings and investments tax-free every tax year, depending on the rate of tax they pay.