self assessment tax return Do you have to register with HMRC if you are self-employed? | How to register as self-employed 20 March 2024 Mike Wakeford 0 comments Self-employed taxpayers should notify HMRC as soon as practicable when they begin working for themselves. HMRC must be officially notified by 5 October following the end of the tax year so that a self-assessment return can be issued on time and to avoid any unnecessary penalties. Read more Paying Tax by Direct Debit to HMRC | Can I pay my self-assessment tax return by Direct Debit? 16 November 2023 Mike Wakeford 0 comments One of the many ways payments can be made to HMRC is by using a direct debit. The direct debit can be set up online. Read more Paying Tax by Direct Debit to HMRC | Can I pay my self-assessment tax return by Direct Debit? 16 November 2023 Mike Wakeford 0 comments One of the many ways payments can be made to HMRC is by using a direct debit. The direct debit can be set up online. Read more Tax Diary October 2023 | Important Tax Year Dates and Deadlines 20 September 2023 Mike Wakeford 0 comments Key dates for your tax diary in October 2023. Read more Tax Diary October 2023 | Important Tax Year Dates and Deadlines 20 September 2023 Mike Wakeford 0 comments Key dates for your tax diary in October 2023. Read more How to Claim Tax Relief on Employment Expenses | Claiming Tax Relief for employee expenses 19 September 2023 Mike Wakeford 0 comments 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). Read more How to Claim Tax Relief on Employment Expenses | Claiming Tax Relief for employee expenses 19 September 2023 Mike Wakeford 0 comments 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). Read more When is the Deadline for Submitting My Self-Assessment Tax Return? | Key Dates for the 2023/24 Tax Year 16 August 2023 Mike Wakeford 0 comments You need to submit a tax return to HMRC if any of the following situations apply in the 2023/24 tax year, the 6th of April 2023 - the 5th of April 2024. Read more When is the Deadline for Submitting My Self-Assessment Tax Return? | Key Dates for the 2023/24 Tax Year 16 August 2023 Mike Wakeford 0 comments You need to submit a tax return to HMRC if any of the following situations apply in the 2023/24 tax year, the 6th of April 2023 - the 5th of April 2024. Read more Updating Your Tax Return | How To Amend A Self Assessment Tax Return 18 July 2023 Mike Wakeford 0 comments There are special rules to follow if you have submitted a Self-Assessment return and subsequently realise you need to change it. For example, this can happen if you made a mistake such as entering a number incorrectly or omitted information from the return. Read more Updating Your Tax Return | How To Amend A Self Assessment Tax Return 18 July 2023 Mike Wakeford 0 comments There are special rules to follow if you have submitted a Self-Assessment return and subsequently realise you need to change it. For example, this can happen if you made a mistake such as entering a number incorrectly or omitted information from the return. Read more What are the Tax-free allowance's on trading and property income? 2 May 2023 Mike Wakeford 0 comments A reminder that there are two separate annual £1,000 tax allowances for property and trading income. If you have both types of income highlighted below, then you can claim a £1,000 allowance for each. Read more HMRC temporarily extend online self-assessment tax return deadline 6 January 2022 Jonathan Green 0 comments HM Revenue and Customs (HMRC) is waiving late filing and late payment penalties for one month giving Self-Assessment taxpayers extra time (if required) to complete their 2020 to 2021 tax return and pay any tax due. Read more
Do you have to register with HMRC if you are self-employed? | How to register as self-employed 20 March 2024 Mike Wakeford 0 comments Self-employed taxpayers should notify HMRC as soon as practicable when they begin working for themselves. HMRC must be officially notified by 5 October following the end of the tax year so that a self-assessment return can be issued on time and to avoid any unnecessary penalties. Read more
Paying Tax by Direct Debit to HMRC | Can I pay my self-assessment tax return by Direct Debit? 16 November 2023 Mike Wakeford 0 comments One of the many ways payments can be made to HMRC is by using a direct debit. The direct debit can be set up online. Read more
Paying Tax by Direct Debit to HMRC | Can I pay my self-assessment tax return by Direct Debit? 16 November 2023 Mike Wakeford 0 comments One of the many ways payments can be made to HMRC is by using a direct debit. The direct debit can be set up online. Read more
Tax Diary October 2023 | Important Tax Year Dates and Deadlines 20 September 2023 Mike Wakeford 0 comments Key dates for your tax diary in October 2023. Read more
Tax Diary October 2023 | Important Tax Year Dates and Deadlines 20 September 2023 Mike Wakeford 0 comments Key dates for your tax diary in October 2023. Read more
How to Claim Tax Relief on Employment Expenses | Claiming Tax Relief for employee expenses 19 September 2023 Mike Wakeford 0 comments 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). Read more
How to Claim Tax Relief on Employment Expenses | Claiming Tax Relief for employee expenses 19 September 2023 Mike Wakeford 0 comments 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). Read more
When is the Deadline for Submitting My Self-Assessment Tax Return? | Key Dates for the 2023/24 Tax Year 16 August 2023 Mike Wakeford 0 comments You need to submit a tax return to HMRC if any of the following situations apply in the 2023/24 tax year, the 6th of April 2023 - the 5th of April 2024. Read more
When is the Deadline for Submitting My Self-Assessment Tax Return? | Key Dates for the 2023/24 Tax Year 16 August 2023 Mike Wakeford 0 comments You need to submit a tax return to HMRC if any of the following situations apply in the 2023/24 tax year, the 6th of April 2023 - the 5th of April 2024. Read more
Updating Your Tax Return | How To Amend A Self Assessment Tax Return 18 July 2023 Mike Wakeford 0 comments There are special rules to follow if you have submitted a Self-Assessment return and subsequently realise you need to change it. For example, this can happen if you made a mistake such as entering a number incorrectly or omitted information from the return. Read more
Updating Your Tax Return | How To Amend A Self Assessment Tax Return 18 July 2023 Mike Wakeford 0 comments There are special rules to follow if you have submitted a Self-Assessment return and subsequently realise you need to change it. For example, this can happen if you made a mistake such as entering a number incorrectly or omitted information from the return. Read more
What are the Tax-free allowance's on trading and property income? 2 May 2023 Mike Wakeford 0 comments A reminder that there are two separate annual £1,000 tax allowances for property and trading income. If you have both types of income highlighted below, then you can claim a £1,000 allowance for each. Read more
HMRC temporarily extend online self-assessment tax return deadline 6 January 2022 Jonathan Green 0 comments HM Revenue and Customs (HMRC) is waiving late filing and late payment penalties for one month giving Self-Assessment taxpayers extra time (if required) to complete their 2020 to 2021 tax return and pay any tax due. Read more