Proof of address - bank statement, credit card bill, utility bill, or mortgage statement dated within the last three months, or council tax bill, HMRC coding letter (the one showing your tax code), benefit entitlement letter, state pension letter, or tenancy agreement dated within the last 12...
How much tax will I pay if I freelance as a second job? HMRC will consider your employed job as your main income source and you’ll get a personal allowance for this. The standard Personal Allowance is £12,570 and you don’t pay tax on earnings up to this amount. If you claim ...
“Even if you have not received such a notice, you may still need to file a tax return if you had a new source of income or capital gains in the last tax year on which you need to pay tax—if so, tell HMRC straight away.” You also need to register for Self Assessment well befo...
You can register for both quickly and easily with HMRC. If you don’t know whether you have an EORI number, you can check online. For restricted goods, like firearms and ammunition, you’ll also need to get an import licence.What is anti-dumping duty? Anti-dumping duty is an extra ...
However, if your employer is not payrolling your benefits, then you will need to report the car benefit to HMRC either through the P46/P11D reporting process or by self-reporting via HMRC.gov forms. This ensures that HMRC is aware of the car change and can update your tax code accordingly...
You’re definitely going to need your UTR when you submit a self-assessment tax return for the first time. What if I’ve lost my UTR number? If you’ve lost or forgotten your UTR number, you can easily recover it from an HMRC document. But when you can’t...
An employee’s tax payments depend on their tax code and National Insurance category letter. If you’re doing manual payroll calculations, you can use HMRC’s calculators and tax tables to check that you’re on the right track. You can also use them to check tax, NICs and student loan ...
Crypto holdings for personal investment are subject to the Capital Gains Tax rules. If crypto assets are held for business activity, then the income is subject to income tax rules. HMRC identifies a business activity on a case-to-case basis. ...
transactions, ensuring each transaction is distinct. In contrast, a Unique Taxpayer Reference (UTR) is a ten-digit number assigned by tax authorities, such as HMRC in the UK, to identify and manage individual taxpayers’ or businesses' tax records for tax filings and communications with tax ...
New tax year – the view from Sage Basis period reform changes Get up to speed with various changes Martin Swain, Director of Intelligence and Law Enforcement Engagement at Companies House, writes about its new proactive role in the fight against economic crime in his recent...