Doing your own self assessment? Here’s everything you need to know! From HMRC registration, self assessment and tax returns to deadlines, these guides to take you through the basics every self-employed business owner needs to know when it comes to handling their own taxes.
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.
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.