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…
-
-
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…
-
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…
-
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…
-
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….
-
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…
-
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…
-
Difficulties Paying HMRC – What If You Can’t Pay Your Tax Bill?
Can’t pay your tax bill? Don’t worry. There are some steps you can take, whatever the issue you’re facing. If you can’t pay your tax bill for financial reasons, this post will explore the help and support that’s available. But…
-
How Does HMRC Know About Undeclared Income?
When you submit your tax return at the end of the financial year, you have to tell HMRC about all the income you’ve received from all sources – including self-employment, property, capital gains, and so on. This is so HMRC…
-
How to Get Your UTR Number
UTR stands for Unique Taxpayer Reference. The government uses your UTR number as a means of keeping track of you for tax purposes. They can’t use your name for this, as lots of people might share the same name. Nor…
