Are you self-employed and will have trouble meeting the tax payment deadline?

If you have set up your Government Gateway account you can now ‘self-serve’ to make arrangements to pay your tax bill by instalments. The conditions for this are: You have filed your 2021 tax return What you owe is less than £30,000 You are within 60 days of the payment deadline Can pay it off […]

Rental properties

The question we always get asked is “should I buy this rental property in my name or a limited company?”.  The answer is no longer straight forward and will depend on your individual circumstances and it is not just about the tax.  People started buying residential investment properties in limited companies to avoid having the […]

Autumn Budget 2021

Universal Credit claimants to keep more wages Many employed and self-employed people claim Universal Credit as they have low or unpredictable levels of income. It provides a much needed top-up to their earnings but the benefit is reduced as the worker earns more due to the Universal Credit taper rate. Currently the taper rate is […]

September 2021 Newsletter

Going digital in advance of MTD From 6 April 2023 all unincorporated businesses will have to keep their business records in a digital format and submit quarterly reports derived from those records to HMRC using MTD-compatible software. These are the basic obligations under making tax digital for income tax self assessment (MTD ITSA). The start […]

Will the Government delay the new rules for the self-employed?

From 6th April 2023 the self-employed, and certain landlords, will need to start reporting their income to HMRC on a quarterly basis.  The Office for tax simplification is also looking to have all partnerships and sole traders change their accounting date to 31st March or 5th April if their current accounting date is different to […]