How to check if you need to file a tax return 2023
This guide will explain what is Self Assessment and how to check if you need to send a Self Assessment tax return to HMRC. What is Self Assessment? Self Assessment is way of paying income tax to HMRC. The idea of Self Assessment is that you are responsible for completing your tax return for the…
What are the tax return penalties?
If you are self-employed, a director or partner in a business, or you are the trustee of an estate, you will need to complete a self-assessment tax return and ensure that you pay it on time. Your tax return should be completed by the 31st January 2022. You may also need to complete a tax…
Do I have to file a self-assessment tax return?
Do I have to file a self-assessment tax return? | 3 minute read Whether you are self-employed as a sole trader and earned more than £1000 or you are a partner in a business, you must file a tax return to HMRC. A self-assessment form is a different type of tax, which is designed to…
Our guide to completing a VAT return
As soon as you reach the VAT threshold, which is currently £85,000, you will be expected to pay VAT on all taxable sales. However, you may also be entitled to claim back VAT that has been charged on business purchases. As part of this process, you will also need to submit a VAT return to…
Your guide to self-assessment tax return
Your guide to self-assessment If you find the thought of filing your self-assessment tax return form a daunting prospect, you’re certainly not alone! It’s a common misconception that filling out your self assessment form is a complex process when in fact, if you are organised, prepared and understand what you need, the process can be…
How to get your accounts in order for the New Year
We are fast approaching the end of the year and I think for the vast majority of us, we will all be pleased to see the back of 2020, right? And as we look ahead to a new year, now is the perfect time to start thinking about getting your accounts in order for a…
