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 […]

What Is A UTR Number And How Does It Apply To You?

What Is A UTR Number

The Unique Taxpayer Reference Number or UTR is an exclusive 10 digit code that’s allocated to you or a company by Her Majesty’s Revenue and Customs (HMRC).  This code helps HMRC personally identify you with reference to any tax responsibilities or rebates.  If You Have A UTR Number And: Work in trades, you need to […]

UK Taxation for Foreign Residents

Tax Refunds UK Expats Can Claim As an employed expat in the UK, you are obliged to file a UK tax return and also claim tax refunds UK taxpayers are entitled to. Not all taxpayers can claim a refund on tax, there are conditions when claiming a UK tax refund.  Taxback has helped many foreign […]

Step by step guide to completing the HMRC Self-Assessment Tax Return

Claiming UK Tax Refunds for Non-Residents This article covers a step by step guide to your Self-Assessment Tax Return. Once you register yourself for the self-assessed tax payer scheme, as a non-resident tax payer in the UK, your next step is filing your tax returns. This article lists a step-by-step guide on claiming UK Tax […]

UK Income Tax Rates For 2016/17 Tax Year

Online Tax Refund Application Forms

If you’re nearly ready to submit your self-assessment tax return for the 2015/16 tax year or perhaps you already have, then you may want to start thinking about the forthcoming tax year! With the 2016/17 tax year in mind, we thought we’d refresh you on your personal allowance so you know where you’re at when […]

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