The benefits of completing your 2023/24 HMRC Tax Return early
Although the very final deadline to complete a 2023/24 personal tax return is 31st January 2025, leaving it until the last minute has many disadvantages. The paper tax return deadline is 31st October 2024, which is a good date to use as a final deadline instead. However, there is no need to even wait that […]
How can I download the 2024 HMRC Tax Return Form SA100?
One of the most frequent queries I received was how to download the paper tax return form from HMRC, as people were unable to find this on their website. In the past, I would be able to give them the web address of the page where they could download the form. In 2023, HMRC initially […]
The Spring Budget 2024
There were several announcements at the Spring Budget on 6th March: National Insurance contributions – There is to be a reduction to 8% for the Class 1 main rate of employee contributions. For the self-employed, the rate of Class 4 contributions is to be reduced to 6%. Both take effect from 6th April 2024. Child Benefit […]
The importance of HMRC’s 31st October 2023 tax return deadline
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 on account for next […]
Why Registering for Self-Assessment by October 5th 2023 is Important
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 or a holiday, but its significance cannot be overstated. […]
If you can’t contact HMRC – I can help you
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 September 2024. HMRC says this is a ‘trial,’ however according to statistics from last […]
2023 SA316 – HMRC Notice to complete a tax return
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 issue fines automatically unless […]
Where is the 2023 HMRC SA100 Tax Return Form?
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 no longer provide the form online […]
Low cost IT recommendations for a one-person business
When starting a business, you are looking to maximise the return on your investment of cash as well as reduce the time spent on administration. I launched my starting a business course in 2016 and gave a list of recommended equipment for someone starting out. Things have moved on in the last seven years, so […]
Digital tax introduction postponed until 2026
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 self-employment. MTDITSA replaces 1 tax return after the year end with 5 ‘tax returns’ […]
Tax changes following the autumn statement 2022
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 enters the 40% higher rate tax band as a result, […]
The Growth Plan September 2022
** 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 reduce the basic rate of income tax from the current 20% […]