If you are an employee who needs to use their own money to pay for things used as part of your employment, you may be able to claim tax relief. In most cases, you can claim tax relief on the full cost as long as you only use these things for your work. Tax relief is reduced if your employer provides a financial contribution towards employment expenses, and no relief is available if you receive all the money back or you are incurring the cost to purchase alternative equipment to that provided by your employer (e.g. you are provided with a basic laptop but you want a better model).
 

If you are an employee who needs to use their own money to pay for things used as part of your employment, you may be able to claim tax relief. In most cases, you can claim tax relief on the full cost as long as you only use these things for your work. Tax relief is reduced if your employer provides a financial contribution towards employment expenses, and no relief is available if you receive all the money back or you are incurring the cost to purchase alternative equipment to that provided by your employer (e.g. you are provided with a basic laptop but you want a better model).
 

If you have recently taken on a second job which is classed as a second income, you may need to tell HMRC about the additional income, as it can impact your income tax obligations.  
 

If you have recently taken on a second job which is classed as a second income, you may need to tell HMRC about the additional income, as it can impact your income tax obligations.  
 

The online service for the fifth and final Self-Employment Income Support Scheme (SEISS) grant will be available from late July 2021.

Taxpayers should take note of an important upcoming deadline – the 31 January 2020. This date marks the self-assessment tax return deadline for last year’s tax year (6 April 2018 – 5 April 2019). 

These are the important tax dates for your diary this month. 

Now that we are approaching the end of the 2019-20 tax year it’s worth noting that you are required to keep your self-employed business records – that underpin your self-assessment tax return for 2019-20 - for 5 years after the 31 January 2021 submission deadline.

The end of the calendar year is a popular accounting date for many businesses, but for those of us with a year-end accounting date of 31 March 2020, reviewing your management accounts for the nine months to the end of December 2019 is a must-do.

Being self-employed and working from home offers numerous benefits such as unlimited income potential, savings on transportation, clothing and tax deductions.

See important tax dates for January here.

See important tax dates for January here.

As the year draws to a close, the thought of your tax return is there, at the back of your mind. But with so much time before the deadline, you decide not to worry about it for now.

As the year draws to a close, the thought of your tax return is there, at the back of your mind. But with so much time before the deadline, you decide not to worry about it for now.

If you have received a refund from a PPI claim, the premiums refunded are not taxable.

However, many successful claims are being paid out with a simple 8% interest to compensate the time you were without the benefit of your money.
 

If you have received a refund from a PPI claim, the premiums refunded are not taxable.

However, many successful claims are being paid out with a simple 8% interest to compensate the time you were without the benefit of your money.
 

Working parents can start applying for two new Government childcare schemes launching this year – Tax-Free Childcare which begins immediately and 30 hours free childcare which starts in September.

Working parents can start applying for two new Government childcare schemes launching this year – Tax-Free Childcare which begins immediately and 30 hours free childcare which starts in September.

Following on from the previous article, we thought readers might be interested in the consequences if they fail to pay their Self Assessment tax on time.
 

Following on from the previous article, we thought readers might be interested in the consequences if they fail to pay their Self Assessment tax on time.
 

Are you self-employed? If you are, or if you are someone who doesn't pay all their tax at source, you may need to make your second payment on account for 2016-17, due date for payment is 31 July 2017.
 

Are you self-employed? If you are, or if you are someone who doesn't pay all their tax at source, you may need to make your second payment on account for 2016-17, due date for payment is 31 July 2017.