The end of the tax year is fast approaching and some of you, whose accounting year end follows the tax year, will soon become embroiled in finalising your small business accounts. But, before you leap into self-assessment mode, it’s worth taking a quick review of your taxes and personal finances. Here are 6 simple things […]
Payments on account – a guide for sole traders
Things have really shifted up a gear for you recently, you’re thriving. All the blood, sweat and tears are starting to pay dividends as you look to celebrate your first profitable year in business. 31st January fast approaches and you complete your first self-assessment tax return. You work out the tax due but the amount HMRC […]
10 Reasons why it pays to submit your tax return early
Who has sat down at the last minute to do their tax return only to discover that there is something they don’t understand, paperwork that can’t be located or that their tax position is more complicated than first envisaged? And, then the problem you discover is that there’s not enough time to figure it out […]
I’m a sole trader – will I need to submit 4 tax returns a year?
You’re a sole trader running a small business. You’re feeling comfortable with the whole annual self-assessment tax process and you’ve mastered Excel spread-sheets. But, brace yourself. The government has planned a big digital overhaul of the tax system with a raft of new tax changes coming your way. The rationale behind the “Making Tax Digital” plan is HMRC’s […]