Paying tax as you earn it: The proposal that could reshape Self Assessment
Anyone subject to the UK’s Self Assessment system knows the rhythm by now. Income is earned across the tax year and the bill for it lands the following January.
Category Self Assessment
Important updates to Making Tax Digital and late payment rates you might have missed in the Spring Statement
This week’s Spring Statement brought two announcements that will matter to anyone running their own business or earning income from property.
Earning between £100,000 and £150,000? Your tax return is changing
If you’re a high earner with between £100,000 and £150,000 in net adjusted income, you’ll soon receive a letter from HM Revenue & Customs (HMRC) regarding whether you need to continue submitting a Self-Assessment tax return.
Making MTD for ITSA easier for landlords
Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) represents a significant shift in how individuals, including landlords, must report their income and manage their tax affairs.
Five Self-Assessment deductions you didn’t know you could claim
With the Self-Assessment deadline passing on 31 January, it’s clear that many sole traders and business owners aren’t using allowable expenses and deductions to their full potential.
Tightening the reins on ‘side hustles’ – Navigating HMRC’s new powers
HM Revenue & Customs (HMRC) is now using new powers granted to them by the Government to target a key area of tax evasion – online traders.
100 days until the Self-Assessment deadline: Are you ready?
We are now only 100 days away from the Self-Assessment tax deadline on 31 January 2024.
Have you filed your online Self-Assessment form?
The clock is ticking for taxpayers, as the countdown to submit online Self-Assessment tax returns has begun.