Tax might be inevitable, but it’s also pretty confusing at times. Find out how and when you need to pay tax in your business, what tax relief and allowances are available, and discover tips and advice to help you keep good financial records quickly and easily.
Most HMRC services, such as viewing your tax account or submitting a return, are available online, so you’ll need a Government Gateway ID to verify your identity and access these. Your Government Gateway ID acts as a portal, connecting you to any services which you sign up for and link to your account. How…
Many self-employed individuals and businesses opt to use an agent to deal with HMRC on their behalf. This could be for several reasons from wanting to focus solely on their business, to needing an extra pair of eyes to ensure their taxes are accurate. Before an agent can act on your behalf, you’ll need to…
The simplicity of running a business this way means it’s no surprise that setting up as a sole trader is one of the most popular business structures in the UK. But where do sole traders stand when it comes to paying taxes? We’ll take a look at what you need to pay as a sole…
Taxes can be tricky to navigate, can’t they? As a self-employed business, keeping track of all your tax reporting deadlines is just one of the many crucial things you need to remember. No matter how busy you are though, missing the deadline to submit your tax return and pay the bill is best avoided (along…
Your Unique Taxpayer Reference number (UTR) is a 10-digit number you’ll receive after registering for Self Assessment or setting up your own limited company. Starting a new business is an exciting time, but can also mean lots of information flying about that you need to keep track of. Hidden within the onslaught of letters and…
