Five Self-Assessment deductions you didn’t know you could claim
With the Self-Assessment deadline passing on 31 January, it’s clear that many sole traders and business owners aren’t using allowable expenses and deductions to their full potential.
With the Self-Assessment deadline passing on 31 January, it’s clear that many sole traders and business owners aren’t using allowable expenses and deductions to their full potential.
When making the decision to become a freelancer, you have two options. You can either set up as a sole trader or start a limited company.
Recent data from HM Revenue and Customs (HMRC) reveals a significant trend – an increasing number of UK taxpayers are filing their Self-Assessment tax returns within the first week of the new tax year.
HM Revenue and Customs (HMRC) has always been at the forefront of embracing technological advancements to make tax-related processes more straightforward for businesses and individuals.
The clock is ticking for taxpayers, as the countdown to submit online Self-Assessment tax returns has begun.
Late filing and late payment penalties will be waived for one month to give taxpayers more time to prepare their 2020 to 2021 Self Assessment tax return, it has been announced.
Sole traders who have not correctly reported their Self Employment Income Support Scheme (SEISS) grants may be forced to repay them in full, it has been warned.
If you are, then keep reading…
Self employed workers who believe they may struggle to pay tax this year should consider arranging an affordable payment plan, HM Revenue & Customs (HMRC) has said.
Taxpayers should remain vigilant to tax scams “threatening arrest” following a surge in reports, HM Revenue & Customs (HMRC) has warned.
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