Tax can be a complicated subject, but they are an unavoidable part of running a business. What tax do you pay? When and how do you report your earnings? And how do you (legally) reduce how much you pay to HMRC? Wonder no more! In this section, you’ll find guides that cover all aspects of taxes, such as corporation tax, self-employment tax,income tax allowances and VAT.
Not sure where to start with going self-employed? Start here! In this guide, I explain how HMRC registration & taxes work along with some other useful stuff you need to know when you embark on your journey to be your own boss.
Wondering if self-employment is the right choice for you? Here are some of the pros and cons of self-employment to help you decide.
Find out about the tax return filing extension, which penalties will be waived and for how long, as well as how interest will be charged.
Find out how you can arrange for more time to pay your self assessment tax bill with HMRC by setting up a payment plan.
If you’re self-employed, read this guide to find out if you need to file a tax return by 31 January 2022.
Find out about the SA250 form issued by HMRC to taxpayers in the UK, when it is issued and what information it contains. 1. What is an SA250 from HMRC? An SA250 is a welcome letter issued by HMRC to taxpayers newly registered for self-assessment. Once successfully registered, HMRC allocates the individual with a UTR …
Understand what tax you need to pay on affiliate income, tax-free exemptions that exist so you can keep what you earn & letting HMRC about your income.
Understand employers national rates, how employers pay NI on the salaries they pay as well as on benefits in kind.
Understand the secondary threshold for national insurance, the 2021/2022 NI rates payable and how these will change in the future tax years.
Find out what an SA1 form from HMRC is, when it should be used as well as where to find it online and tips on filling it out.