Coronavirus tax advice for the self-employed

UK Tax Back

Are you searching for tax advice for the self-employed? Has the pandemic had a negative impact on your business? Are you struggling to pay your taxes and free up cash to invest in your business? While the Government introduced tax relief for some sectors and financial assistance to self-employed, the system is complicated and can […]

3 Bits of Software Business Owners Need for Running a Business Online

Bits of Software for Running a Business

Anyone who is self-employed and runs their own business knows that it can be hard work and bring its own challenges. In light of this, it is wise to get all the help you can to work smarter and be more productive. Business management software packages are certainly helpful and can improve efficiency. Using the […]

How do you calculate your business income for your self assessment tax return?

How do you calculate your business income

How do you calculate your business income for your self-assessment tax return? In the UK, individuals who run a business are deemed as self-employed. As a business owner, you are responsible for filing and paying your own UK Tax each year, as well as filing the relevant corporate or sole trader accounts for your business. […]

UK tax changes for the self-employed – 2020-2021

Self-Employed Tax Changes for 2020-2021

From 6th April onwards, millions of employees and self-employed people will pay less tax due to an increase in the threshold for the 2020-21 tax year. After the coronavirus pandemic fallout, are you going to be better off after the 2020-21 tax threshold changes? Here are some tax reforms you will need to learn about […]

New Tax Free Personal Allowance

What’s the Tax Free Personal Allowance in the 2020-21 and 2021-22 Tax Year? On the 6th of April each year the new tax changes come into effect and this is when you could see a changes to your tax free allowance. Regardless of your tax free allowance, there may be other factors that mean you’re […]

Important UK Tax Deadlines: 2021-22

New Rules To Claim Tax Refunds UK in 2021-22 This article lists important deadlines to adhere to when submitting your 2021-22 tax returns. The HMRC has introduced some changes for the new tax year and you need to get updated in order to avoid delays and penalties and claim your UK tax refund on time. […]

Do you know if you need to file a Self-Assessment tax return?

Working at home from bed

How do I know if I need to file a Self-Assessment tax return? Failure to file income tax on time usually results in fines and penalties that would have been avoided when diligence is practiced. But a new problem arose due to a mad dash to beat tax deadline – unnecessary filing of self-assessment. Take […]

Self-Employed Individuals Encouraged to Reach New Deadlines for Tax Returns

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 […]

Falling Inside IR35 Tax Rules – UK Tax Advice For The Self-Employed

Falling Inside IR35 Tax Rules

If you fall within IR35 tax guidelines, it means that HMRC sees you as an employee in the ‘off-payroll’ working laws, for tax purposes. Here’s more UK tax advice on IR35. What Does It Mean To Be ‘Inside IR35’? In 2000, the off-payroll working rules were introduced by HMRC to make sure contractors, who would […]

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