Category › Personal Tax › Income Tax – Self-Assessment & Filing › Chapter-1 : Who Needs to File (Eligibility & Obligation)
Chapter-1 : Who Needs to File (Eligibility & Obligation)
Income taxes and National Insurance contributions accounted for 43% of the UK government’s funding in 2021/22, totaling £230 billion and...
Do i need to file a self assessment tax return?
Income taxes and National Insurance contributions accounted for 43% of the UK government’s funding in 2021/22, totaling £230 billion and...
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Who must send in a tax return
From self-employment to rental income, there are many reasons you may need to file a Self-Assessment return. Know the triggers...
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Self-assessment threshold change
The -100,000 threshold for Self-Assessment change for taxpayers taxed through PAYE only, increased from -100,000 to -150,000 with effect from...
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Self-assessment threshold change for 2023-24: find out if you’re affected
Change to Self Assessment Threshold: Are you affected? The world of tax is always evolving, and we understand how crucial...
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Are you self-employed?
Self-employed taxpayers should notify HMRC as soon as practicable when they begin working for themselves. HMRC must be officially notified...
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Connected persons for tax purposes
The definition of a connected person for tax purposes varies. A statutory definition of “connected persons” for Capital Gains Tax...
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Do you need to file a tax return
There are a number of reasons why you might need to complete a Self-Assessment return. This includes if you are...
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Do you need to submit a self-assessment tax return?
There are a number of reasons why you might need to complete a Self-Assessment return for the first time. This...
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Is income from hobbies taxable?
Not every money-making hobby counts as a business for tax purposes. Knowing when a hobby crosses into trading territory is...
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Is your trade in goods or services a business
Selling goods or services? It-s vital to know if HMRC considers this a business. From regular sales to earning commissions,...
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Less could be more
Is there mileage in the old adage that it is unwise to keep all your eggs in one basket? Most...
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Understanding the uk-s bank deposit guarantee scheme
The UK government offers a robust safety net for savers through the Financial Services Compensation Scheme (FSCS). This scheme is...
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What if you no longer need to submit a tax return
You must tell HMRC if you no longer need to file a tax return. Whether you have stopped trading or...
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When is a hobby a business
Not sure if your hobby is actually a taxable trade? HMRC uses -badges of trade- to assess whether an activity...
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What is an acceptable pensions income?
Determining an acceptable level of pension income for retirement depends on individual circumstances, including lifestyle expectations, health, and financial commitments....
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Self-employment cannot be used as a tax smokescreen for contracted employees
A complex celebrity case arose recently in which the First-tier Tax Tribunal (FTT) was asked to consider the application of...
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Who needs to file a self-assessment tax return
There are several reasons why you might need to file a self-assessment tax return. This could apply if you are...
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