If you do not pay your self-employment tax, you may face penalties and interest charges. The amount of the penalty depends on how late you are in paying your taxes. If you miss the deadline for submitting and paying your self-assessment, you may have to pay a penalty as well. ...
Completing your Self Assessment can be daunting. Read this guide on submitting a tax return for sole traders or self-employed and learn all you need to know.
Self Assessment, Investigations & Audits Even if you haven’t made a mistake on your tax return and don’t have anything to hide, the prospect of an HMRC investigation can be worrying. So, what triggers an HMRC investigation, what does an HMRC investigation involve and what could be the ...
The Self Assessment tax return deadline is looming, as the 31st January creeps ever closer. But what exactly does this deadline mean? Does a Self Assessment tax return even apply to you? And, if it does, how do you file tax returns correctly? Here, GoSimpleTax tells you everything you...
IT'S that time of year again when tax self-assessment forms are thumping on to our doormats. More than 92 million of us are now forced to endure the agonies of self-assessment, so whether you're a middle-income earner, have a second property or simply have some extra income from ...
Get ready for the 2024/25 Self Assessment deadline with expert tips and insights from Quickbooks. Discover essential strategies to prepare for stress-free tax.
As a self-employed individual you pay tax under the self-assessment system. You pay Preliminary Tax (an estimate of tax due) on or before 31 October each year and make a tax return not later than 31 October following the end of the tax year. Y...
Around 12 million people are expected to submit a self-assessment tax return this year. Missing the deadline can be costly with an automatic £100 penalty, even for those who don’t owe any tax. The deadline for paying the bill is also the same as filing, so if you miss...
Make the most of tax relief For every £80 you put into your pension, HMRC will usually add an extra £20. If you’re a higher or additional rate taxpayer, you could also benefit from extra tax relief through self-assessment. Tax treatment depends on individual circumstances and may be...
Self-Assessment Quiz Are You Ready to Move Abroad? Choose the answer to each question that best describes you or your current situation, and learn how ready you are to start a life abroad. Email entry will be required to see your results. Let’s Start Step by Step: How to Report ...