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.
Making Tax Digital for Income Tax Self Assessment (MTD ITSA) is going to transform the way landlords and business owners report what they earn to HMRC. Despite the confusing acronyms, it’s vital that business owners and landlords familiarise themselves with Making Tax Digital and what it means for them, so they can be fully compliant…
Making Tax Digital (MTD) for VAT is in full swing, and HMRC will soon launch a new system for issuing VAT submission and payment penalties. The new points-based penalty system for Making Tax Digital for VAT will apply from January 2023. You can still be fined under the existing rules until then! Will I be…
Nobody wants to pay more tax than they need to, and there is no reason why you should pay more than your fair share. So, in this post, we’re going to look at the different allowances and tax reliefs that a self-employed person can claim. This isn’t tax avoidance, or any kind of shady practice….
Running your own business is very exciting, but there are some aspects that perhaps you could do without. For many people, one of these is dealing with HMRC. Quite apart from the dread of another brown envelope dropping through the letterbox, there are the deadlines, and the fact that HMRC seem to speak another language….
Making Tax Digital, or MTD, is the government’s plan to improve the way that businesses record and report their tax. The rules are already in place for VAT registered businesses, and from April 2026 will expand to include Self Assessment. The changes mean that self-employed people and landlords earning over £50,000 a year must be…
