Accountants use their skills and expertise to help grow your business by managing your financial accounts. It’s common knowledge that a lot of what they do is recording and inspection. However, can they actually save you money? A lot of businesses are ultimately trying to save more money and cut costs, so we will find […]
Covid-19 is not only a health crisis for self-employed launches but also a pressing employment crisis. The HMRC has begun to contact over 3 million taxpayers who could be qualifying for the Self-Employment Income Support Scheme (SEISS) of the government to clarify the application process and encourage them to plan for a claim when the […]
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Important Dates In The UK Financial Year – Key 2020 UK Tax Dates
The UK Tax Year 2019-2020 – Dates to Remember to Avoid Penalties UPDATED: 2nd April 2020 The UK Tax Year runs from 6 April to 5 April of the next year. Within this period, all of your income, whether earned or remitted in the UK, may be subject to tax. Whether you owe tax or […]
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Self-Employed Individuals Encouraged to Reach New Deadlines for Tax Returns
The COVID-19 crisis is having far-reaching financial effects on individuals and companies alike in the UK and around the world. The Low Income Tax Reform Group (LITRG) says that self-employed individuals who have yet to submit their 2018/19 self-assessment tax return have until 23 April 2020, else they will risk missing out on potential government […]
If you were self-employed from 6th April 2018 to 5th April 2019 and have earned more than £ 1000, then you need to file a self-assessment tax return and pay any tax that you owe before 31 January. Self-Assessment is a method used by HMRC to levy income tax. So if you are running a […]
Companies in the gambling industry were all dealt a financial blowback in April 2019 when fixed odds betting terminals (FOBTs) had their max stake reduced to £2 from £100. It was a sensible move by the Department for Digital, Culture, Media and Sport (DCMS) at the time but it’s since led to betting shop closures […]
As Employers start to hand out P60 forms to millions of Employees many of which could be due to a uk tax refund There are Many Reasons Why you may be due a tax Refund Here are a few examples. Here are 10 reasons why you could be owed a UK Tax Refund If you […]
Got a Tax Refund due in 2020? Here’s 6 ways to spend it wisely and maybe even make more money. Are you expecting a tax refund in 2020? Although you deserve to spend it any way you want, you might want to do it wisely. Treat it as an investment that should provide you with […]
What you should know when calculating Your Business Income? If you run a business, you are basically self-employed. While preparing a Self Assessment tax return seems fairly easy, you might be unsure of what to indicate as your business income on the box designated. This is why you must calculate beforehand your business income. Ideally, […]
UK Tax Blog, UK Tax News, UK Tax Returns
How do I know if I have to file a UK Self Assessment tax return?
How do I know if I don’t have to file a UK Self Assessment tax return? When dealing with Paye tax refund, or self-assessment tax return, you need to be on the ball and act quickly. Delays usually mean fines and penalties. HMRC expects a tax return on time, and if you think you no […]