Business Guides - Tax Advice

Managing your accounts as a freelancer

No prescribed format for self-employed accounting doesn’t mean there aren’t dos and don’ts.

The SEISS Grants and declaring it on your self-assessment

The SEISS grants are taxable which means that they are subject to Income Tax and National Insurance contributions in the tax year. 

What is Capital Gains Tax and when do I need to pay it?

An overview for freelancers on when CGT is due; how to pay it, and how to get relief.

Can I claim for Working Tax Credit when self-employed?

Working Tax Credit is a type of benefit designed to top up low income for people working in the UK, find out if you qualify. 

Why you should prepare to Make Tax Digital for Income Tax in 2021

There are a series of incoming tax changes that will impact how freelancers file their tax returns to HMRC as part of Make Tax Digital. 

Tax Rates and allowances 2021/22 for freelancers

Here are the main tax rates and allowances for 2021/22 that the self-employed/freelancer community need to be aware of

Freelancers – 19/20 tax return updates, extensions and support

It’s difficult to stay on top of tax law at a time of such uncertainty, so we have created this up to date guide on navigating taxes and deadlines. 

Filing your self-assessment by 28th February

Freelancers - Can you really afford to leave your self-assessment until 28th February? 10.7 million people submitted their 2019/20 self-assessment tax returns by 31st January deadline.

Freelancers' Questions: How to be self-employed in Italy if I leave the UK?

An expert on freelancing overseas ends a ‘viscous circle,’ but balks at the likely paperwork and controls involved.

Who needs a UTR number?

A self-employed freelancer in the UK is required to have a Unique Taxpayer Reference (UTR) as it helps HMRC identify and process tax returns against the correct taxpayer’s records.

IR35: Dos and don’ts to consider for 2021

With everything else that’s been going on the information regarding IR35 may have got a little lost lately, so we thought we’d write a no-nonsense article to keep you up to date

What you need to know about the SEISS 2nd grant

With a second grant opening in August 2020, a number of freelancers are set to benefit from further financial assistance.

 

Freelancers’ Questions: Why will a Spanish client want an EORI number, and VAT waived?

Reassurance for a part-time freelancer, not aware that self-employment and sole trading is one and the same.

Freelancers’ Questions: Is tax due on US income if I left Italy to be a UK sole trader?

Expert helps a self-employed creative eying a new start in Britain, albeit with an old client.

Thinking of going self-employed? Know this first

Thinking of going self-employed? We explain everything you need to know about your tax obligations as a freelancer/self employed in the UK.

Tax Rates and Allowances 2020/21 for freelancers

Here are the main tax rates and allowances for 2020/21 for freelancers. This guide will highlight any changes made from the previous tax year. 

10 Things to know about the Self-employment Income Support Scheme

Here are 10 things to know about the self-employment income support scheme and how to plan for the coming weeks if you miss out on the grant.

How to freelance in the UK for overseas clients

As a UK freelancer who carries out work for overseas clients, or who is based overseas yourself, you might wonder where and how to pay your tax bill. We look at how you can freelance in the UK for overseas clients

What can freelancers do to reduce their tax bills this year?

Saving money wherever you can is a priority for freelancers so here are ten things freelancers can do to reduce their tax bills this year. 

The impact Brexit will have on freelancers

As the Brexit machine continues to grind away, UK freelancers remain poised to discover exactly what will happen to them.

A complete freelancer’s guide to hiring accountants

Whether you are just starting out or are an established freelancer, you may need to look at hiring accountants for your freelance business. 

Common mistakes freelancers make when filing a self-assessment tax return

We look at some of the most common mistakes freelancers make when filing a self-assessment tax return and how to actually fix them. 

What financial records do freelancers need to keep?

When you are running your freelance business it can be difficult to determine what files and financial records you need to keep. Here we look at the financial records freelancers need to keep. 

What freelancers need to know about Making Tax Digital

Making Tax Digital (MTD), which started its first phase on April 1 2019, is one of those schemes that many people will have heard of but don’t actually know much about.

What to do if you’re investigated by HMRC

The guide highlights what to do if you’re investigated by HMRC. The main points highlighted included how the enquiries are triggered, what are the red flags, what happens when HMRC decide to investigate and what are the possible outcomes. 

Need-to-know tax information for freelancers

Here’s some important tax information to take into account if you are a freelancer or looking to go self-employed. This need-to-know- tax information for freelancers guide will help you get started on your taxes. 

Expenses freelancers can claim on their self-assessment

A guide for freelancers on the expenses they can claim on their self-assessment. The self-assessment deadline is right around the corner, therefore freelancers need to get their taxes into order. 

Top 5 Tax Tips for Freelancers

As a freelancer, do you always feel dread whenever tax season comes? In theory, you should always keep your accounts in order. It can be difficult to keep on top of your accounts and taxes, here are some tips on managing your taxes efficiently. 

Tax and rates allowances 2019/20 for freelancers

The tax rates and allowances for the year 2019/20 that are most relevant to small businesses. Although, this may change due to Brexit. 

Where do you go to for tax advice?

As John Antell explains, in England and Wales there are a number of professions who provide tax advice.

                             

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