Daunted by self-assessment tax returns? With the deadline approaching for those that complete this particular form, nobody wants to be caught short. For those that use the paper forms, the deadline falls on the spooky festival of Halloween. Next year will spell the end of paper-based tax returns, with the new digital system being far …
Do you find tax returns…well, rather taxing? If so then you’re certainly not alone. Whether you’re self-employed, a sole trader or work as a partnership, tax returns can be extremely time consuming. And to make matters worse, the rules are often changing; it’s easy to feel like there’s a lot of small print involved. One …
Do you run your business with a partner? A partnership is a great way to share the responsibility of a business. However, no matter where each person’s responsibilities lie, tax returns surely aren’t popular with either of you. This process includes covering income on trades and professions, interest or alternative finance receipts, with tax deduced …
Tax is an unfortunate fact of life, and the way we all contribute towards society. An overcomplicated tax return, however, isn’t necessary. Self-assessment tax returns are the bane of the self-employed. Although you enjoy greater independence, there is no escaping this yearly obligation. When you’re tired after a long day’s work, the last thing you …
Being a sole trader is the most popular way to start a business. By definition, it means anyone who runs a business as an individual. A sole trader owns 100% of the business rather than a part of it. If you start a business with one other person, you are not a sole trader but …
Are you self-employed? Worried about your tax return? There are many advantages to being self-employed: the freedom, independence and an escape from the commute, to name a few. However, self-assessment tax return isn’t one of them. Few people enjoy this aspect of being self-employed. While tax is deducted automatically from most wages, anyone …
Self-assessment tax returns are notoriously difficult. This system of income tax was introduced in 1997 and shifted responsibility onto the taxpayer’s shoulders. If your tax is not currently covered by PAYE, you must complete a tax return online. Furthermore, even if your tax is covered by PAYE, there are lots of circumstances in which you …
Tax is an unavoidable part of life. But as someone once said, ‘You must pay taxes. But there’s no law that says you should leave a tip.’ Nobody should be paying more than they owe. Without a little help, filling in your tax return can be a lengthy process. Collecting information on your income and …