Getting Started: The Essentials of Checking Your UK Tax Payments Picture this: You're sipping your morning tea, glancing at your latest payslip, and a nagging doubt creeps in – have I really paid the right amount of tax this year? As a tax accountant with over 18 years helping folks across the UK, from bustling London offices to quiet home-based setups in the Midlands, I've seen this...

Understanding Making Tax Digital for Self-Employed Individuals So, the big question on your mind might be: do self-employed people really need to comply with Making Tax Digital (MTD)? As someone who’s spent 18 years guiding UK taxpayers through HMRC’s maze, I can tell you the answer depends on your income, but it’s a question worth tackling head-on. MTD is HMRC’s push to...

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Understanding the Tax Framework for UK FreelancersIn the United Kingdom, the terms "freelance" and "self-employed" often intertwine. Both apply to individuals who work independently, offering their services to various clients rather than being tied to a single employer. This distinction is important as it shapes their tax obligations significantly. Freelancers and self-employed individuals in the UK must register for Self-Assessment with Her Majesty's Revenue and Customs (HMRC), pay income tax a

Discover how to find a company’s VAT number in the UK with practical steps, HMRC tools, and post-Brexit tips.

Understanding Your UK Tax Code NoticeIn the UK, understanding your tax code is crucial for ensuring you're paying the right amount of tax. A tax code is used by your employer or pension provider to determine how much Income Tax should be taken from your pay or pension. This article aims to guide UK taxpayers on how to get a copy of their tax code notice, understand its components, and ensure its accuracy.What is a Tax Code Notice?A tax code notice, also known as a PAYE notice of coding or Form P

Discover S455 tax, its rates, and rules. Learn how it applies to loans and ensure compliance with this comprehensive guide.