Free tax tips and advice for UK self-employed, freelancers and sole traders
Over the years HMRC has given conflicting advice when it comes to deciding whether a director needs to register for self-assessment. The result is that this is a much-debated question amongst accountants and Company Directors. So if you aren’t sure whether you (or your client, if you are an accountant) should be registered, read on.
Understand the K tax code including how it is worked out by HMRC, what it means and why it is given to individuals in certain situations.
ISAs are a tax-free way of saving money in the UK, designed to encourage individuals to save money. Find out how much you can invest, the types of ISAs available & what happens if you withdraw your money.
In this simple guide, I’ll give you an overview of IR35 so you can understand what it all means, including how it works, why it was set up over two decades ago and show you how to determine whether you fall ‘inside the rules’ because you are what is known as a ‘disguised employee’.
Inheritance tax is the tax paid on the estate someone leaves behind when they pass away. Read about how this tax works, the applicable rates payable on an individuals estates and commonly used allowances and exemptions as part of inheritance tax planning.
If you’ve made a mistake on your tax return, then you can correct it online by amending the return you submitted. Here’s how to do it.
Essential tax dates and self assessment deadlines for the self-employed including registration, filing deadlines and tax payment dates.
One of the common mistakes people make when they are filling in their tax return is forgetting to include bank interest. Here’s how to show it and how tax works on savings as well as the allowances available to reduce how much tax you pay.
The tax return deadline, normally 31 January each year, has been extended to 28 February 2021 for this year only in response to the number of people struggling to file their tax return in these unprecedented times.
If you’re filling in your tax return, the traditional accounting can benefit you in certain circumstances or cause you to pay more tax. Find out more about this way of accounting and alternatives if you think it is making you pay extra income tax.