by James McBrearty | Oct 1, 2023 | Blog, Personal tax, Self-employed, Start-up
Why the 31st October 2023 and not 31st January 2024? Although the very final deadline to complete your 2022/23 tax return is 31st January 2024, that is also the same day that you have to make payment of any tax that you owe for last year.This may also include payments... 
by James McBrearty | Sep 26, 2023 | Blog, Personal tax, Self-employed, Start-up
As we are now in the last days few before October starts, there’s an important date that many individuals in the UK might not be aware of: October 5th, the deadline for registering for self-assessment. This date might not elicit the same excitement as a birthday... 
by James McBrearty | Sep 18, 2023 | Blog, Personal tax
Introduction Selling a second home can be a significant financial milestone, but it also comes with certain responsibilities that might catch you off guard if you’re not adequately prepared. One such obligation is dealing with Capital Gains Tax (CGT), which... 
by James McBrearty | Jun 11, 2023 | Blog, Personal tax, Self-employed, Start-up
Some shocking news was announced on 8th June 2024. With only four day’s notice, HMRC announced that they would be disconnecting their Self-Assessment telephone helpline for three months. The self-assessment helpline is to be closed from 12th June 2024 until 4th... 
by James McBrearty | Jun 11, 2023 | Blog, Personal tax
It is expected that there will be three million of these bonus payments made this year. For tax, they may have to be declared on the next tax return as they are classed as interest income. Depending on the total bank interest received in the year, you may not have to... 
by James McBrearty | Apr 24, 2023 | Blog, Personal tax, Self-employed
It is now time to start preparing the 2023 personal tax returns, which cover the year 6th April 2022 to 5th April 2023. You may receive a notice from HMRC, called a SA316, which confirms that they are expecting you to submit a tax return. It also means that they will... 
by James McBrearty | Mar 29, 2023 | Blog, Personal tax, Self-employed
Every year, thousands of people use my website to locate the paper tax return form online, as it wasn’t easy to find on the GOV website. I have been posting a link each year to help people, but with very short notice HMRC had initially announced that they will... 
by James McBrearty | Dec 22, 2022 | Blog, Personal tax, Self-employed, Start-up
It has recently been announced that the digital tax system introduction has been postponed from 2024 to 2026.Making Tax Digital for Income Tax Self Assessment (MTDITSA) is the new system that applies to those with income from either properties or... 
by James McBrearty | Nov 28, 2022 | Blog, Personal tax, Self-employed, Start-up
On the 17th of November there were several changes announced that will affect tax for future years. Personal Tax & National Insurance bands The thresholds at which these apply are to be frozen at their current levels until April 2028. (For anyone who... 
by James McBrearty | Sep 27, 2022 | Blog, Personal tax, Self-employed, Start-up
** Many changes announced in the Growth Plan have now been abandoned as below ** On Friday 23rd September, the previous Chancellor announced several plans that will affect individuals and the self-employed: 1% Reduction in income tax From April 2023, it is planned to... 
by James McBrearty | Apr 14, 2022 | Blog, Personal tax, Self-employed, Start-up
The 2021/22 tax year ended on 5th April 2022, tax returns for that year can now be submitted.It is highly recommended that returns are completed as early as possible in the year, that way nasty surprises are avoided. By leaving things later in the year, there is less... 
by James McBrearty | Apr 5, 2022 | Blog, Personal tax, Self-employed, Start-up
In the recent Spring Statement, several changes to National Insurance were announced.These are not straightforward, and this is further compounded by only applying part way through the new tax year – from 6th July 2022 onwards.The reason why the changes are not... 