HMRC issue some tax refunds automatically. In other cases, you need to actively claim tax refunds. For example, for job-related expenses that you paid for yourself, you need to make a claim by completing form P87. For refunds relating to the 2019/20 tax year, you need to make your claim by 5 Ap...
The noise about ‘side hustle tax’ is showing no signs of dying down and we are still seeing incorrect information circulating online about the tax position of people selling items via online platforms. We previously published a flowchart trying to provide clarity on the rules. In this, our thir...
The deadline for sending most online 2022/23 self assessment tax returns to HMRC, and for paying the related tax, is 31 January 2024. If this deadline applies to you, make sure you file your 2022/23 tax return online and pay any tax you owe by 31 January 2024 to avoid penalties and interest....
Despite ongoing efforts by tax professionals up and down the land, we are still seeing a large amount of confusion about the ‘new’ side hustle tax reporting rules for online platforms. There is no new tax on side hustles. Here, we reiterate the main things you need to know, provide a new flowchart t...
The Self-Employment Income Support Scheme (SEISS) grants were available to help support eligible sole-traders and partners in partnerships during the coronavirus pandemic. HMRC are checking that individuals who claimed the fourth and/or fifth SEISS grants were eligible to do so. The aim of the le...
Are you one of the many self-employed people intending to complete your online Self Assessment tax return over the festive period? If you are worried about doing this, then read on to find out about the helpful guidance available on our website. Many sole-traders and partners will be completing t...