Change to Self Assessment Threshold: Are you affected? The world of tax is always evolving, and we understand how crucial it is for our clients to stay informed. Recent changes by HMRC regarding the Self-Assessment threshold could affect many taxpayers, and we're here to break it down for you. Increased Threshold for Self-Assessment from 2023-24 … Continue reading Self-Assessment Threshold Change for 2023-24: Find out if you’re affected
How to claim work from home tax relief in the UK When you-re self-employed in the UK, understanding your National Insurance contributions (NICs) is critical for both compliance and for securing your future benefits such as the State Pension. For the 2023-24 tax year, the HMRC highlights two primary classes of NICs that self-employed individuals … Continue reading Class 2 and Class 4 NICs: Quick Reference for Self-Employed Individuals in the UK
Key HMRC Deadlines for July and August 2023 As we step into July and August 2023, it's essential to stay updated with the upcoming deadlines from HM Revenue and Customs (HMRC). Here's a comprehensive guide to help you navigate these crucial dates and ensure that your business remains tax compliant.1 July 2023 - Corporation TaxThe … Continue reading Key HMRC Deadlines for July and August 2023 You Need to Know
HMRC’s Self-Assessment helpline closed on 12 June 2023 and will re-open on 4 September 2023. This closure is part of a trial to direct Self-Assessment queries from the helpline to HMRC’s digital services, including online guidance, digital assistant and webchat. This move has been planned for a ‘quiet’ time for Self-Assessment queries and the helpline will … Continue reading HMRC-s Self-Assessment line summer closure
Guide to tax relief for work expenses in the UK If you find yourself paying for job costs out of your own pocket, making the most of available tax reliefs is essential. In the UK, HM Revenue and Customs (HMRC) offers tax relief for certain job-related expenses that are not reimbursed by your employer. In this blog … Continue reading Guide to tax relief for work expenses in the UK
Do I need to file a Self Assessment Tax Return for rental income? If you are earning rental income in the UK, understanding your tax obligations is crucial. Filing a self assessment tax return for landlords can be complex, but with the right knowledge and guidance, you can ensure compliance and maximise your financial benefits. … Continue reading Self Assessment Tax Return for Landlords in the UK
