How to Get Copies of Old Tax Returns
While working on your tax return, for one reason or another you may have to refer to a previous year’s tax return. But what if you can’t find your old tax returns? Can you request a copy of a tax…
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What is a Benefit in Kind? Examples and Definitions
Benefit in Kind: It’s not something that all self-employed workers will have to think about, as it mainly comes into play if you employ staff for your business. But even if you don’t employ staff for your self-employed business, it’s…
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How To Tell Clients Your Prices Are Increasing
If you’re a self-employed freelancer or contractor, or you run a small business, then you will have to raise your prices from time to time. The news is full of the effects of inflation, the minimum wage and National Insurance….
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What is Class 4 National Insurance?
Class 4 National Insurance is for self-employed people with annual profits over £12,570. But to really understand Class 4 National Insurance, it’s worth learning about the other National Insurance classes, and who pays them. What is Class 2 & 4…
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How to Become a Dog Walker & Start a Business
Dogs need lots of fresh air and exercise every day. But not all dog owners have the time or the energy to take their dogs for daily walks. That’s why there’ll always be a demand for dog walkers! So if…
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What is Turnover for the Self-Employed?
If you’re new to the world of self-employed work, then you’re probably also new to the world of UK tax law. So you’ve probably come across a lot of terms and concepts for the very first time – turnover, expenses,…
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Self-Employed: How Much Do I Need to Earn to Pay Tax?
As soon as you register as self-employed, HMRC will send you a Unique Taxpayer Reference (UTR) number by post. On top of this, they’ll set up an online HMRC account for you, and send you instructions on how to access…
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What Are the Allowable Expenses for Self Employed?
Once you start working on a self-employed basis, you’ll soon realise just how pricey it can be to run any sort of business. No matter what type of goods or services you offer, you’re going to incur lots of expenses….
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How to Pay Self-Employed National Insurance, and What Happens if You Don’t?
Self-employed people must pay National Insurance contributions. But the good news is that the rate you’ll pay is lower than the rate employees pay. This is your essential guide to National Insurance for the self-employed. We’ll explore how much you…
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Who Needs to Do a Self-Assessment Tax Return?
If you’re new to the world of freelancing, then you may also be new to the world of tax returns. When you work for a company, tax is relatively straightforward – it’s just a figure that shows up on your…
