HMRC

All things related to HMRC.

Do I need to do a Self Assessment tax return for 2024/25?

If you are asking yourself “do I need to do a Self Assessment tax return?”, you are in very good company. Every year, millions of people in the UK feel confused, stressed, or slightly panicked when Self Assessment season rolls around.

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Self Assessment

Self Assessment penalties: how much you’ll pay if your tax return is late in 2025/26

If you are getting close to the 31 January deadline and have not filed your tax return yet, that sinking feeling is completely normal. Every year, thousands of people in the UK find themselves asking what happens if they miss the deadline and how bad the penalties really are.

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Self Assessment

7 reasons you should file your Self Assessment early

If you are a sole trader, landlord, contractor, company director, or PAYE employee with a bit of side income, there is a good chance you recognise this pattern. You tell yourself you will deal with Self Assessment “later”. Summer turns into autumn, autumn turns into December, and before you know it, January arrives with a familiar sense of dread.

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Self Assessment

Making Tax Digital 2026: what sole traders and landlords need to do starting April next year

If you are a sole trader or landlord who already files a Self Assessment tax return, chances are you have heard a lot of noise about Making Tax Digital and are wondering what it actually means for you. Is Self Assessment ending? Will you really have to file something every three months? And do you need to start doing anything now?

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Registrations

What is Value-Added Tax (VAT) and how does it work?

Have you heard of Value Added Tax? Do you know how it works? Well, if you don't, you're in the right place.

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Registrations

What are UTR Numbers?

Did you know that, according to the House of Commons Library, the UK government raises over £800 billion yearly in receipts that come from income from taxes as well as other sources, with income tax making up £195 billion of this amount?

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Registrations

What is a Tax Return? 8 Things to Know Before Filing

If you’re an entrepreneur, investor, or sole trader, chances are you’ve made an income that hasn’t been taxed yet. If this is the case, it’s important to report any untaxed income to HMRC so you can pay the correct amount of income tax and remain compliant. This is done by filing a self assessment tax return, commonly referred to as a tax return.

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Registrations

10 Biggest Tax Return Mistakes to Avoid

Filing your self assessment can be a daunting task, especially if you’ve never done it before. It is important to ensure all information is complete, all reference numbers are correct, and all income amounts are calculated accurately. One mistake can lead to overpaying taxes, penalty fines, missing out on tax reliefs and delayed or rejected tax returns.

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Registrations

How Does VAT Work? 7 Things You Need to Know

If you’re based in the UK or EU, chances are you’ve paid VAT (value-added tax) on certain purchases. You may know that it’s a type of tax, but how does VAT work when you run a business? How do you keep your company compliant with all VAT regulations?

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