Catherine Heinen, FCCA
Catherine is a Technical Content Writer at TaxAssist Accountants, and a qualified accountant. With experience working at two accountancy practices in the UK top 50 accountancy firms according to Accountancy Age, Catherine has significant experience in accounts, tax returns and advising clients. Catherine ensures businesses, business owners and individuals are kept up to date and informed by providing concise and informative technical material.
How do I register as self-employed?
I started a side-hustle in October 2023 which has really taken off and I need to know how to register as self-employed with HMRC.
Find out moreWhat you need to know when completing a P11D form
Understanding the intricacies of the P11D form can be a daunting task for UK employers. This guide demystifies the P11D form so you can prepare your business ahead of the deadline.
Find out moreIs the state pension taxable?
Is the income I receive as part of my state pension taxable and when do I need to report it to HM Revenue & Customs?
Find out moreA guide to company secretarial duties and responsibilities
The company structure offers businesses the benefit of limited liability protection with the company being a separate legal entity to the individuals who own and run it.
Find out moreA guide to understanding the Seafarers Earnings Deduction
If you are an employee and work at sea outside of the UK, you may be able to reduce your income tax bill using the Seafarers Earnings Deduction (SED).
Find out moreWhen to incorporate your sole trader business
When starting a business, thinking about business structure is an important conversation. For some, the choice is to start as a sole trader or partnership then, as your business expands, look at incor...
Find out moreShould I use the cash basis for my accounts?
With the restrictions to the cash basis being removed from 6th April 2024, should I change the way I am accounting?
Find out moreWhat are the changes to company size classifications?
I have heard that the size classifications of companies between small and medium are changing. Is this correct?
Find out moreWhy would I buy a property through a company?
I want to expand my investment in property with a view to making it my main job. I am wondering whether setting up a company to do this would be the best way as the corporation tax rate is lower than...
Find out moreUnderstanding an overdrawn director’s loan account
Managing the financial health of a limited company involves many responsibilities, including maintaining a balanced director’s loan account.
Find out moreWhat has changed for the new tax year?
The new tax year starts on 6th April. This is often the date that new tax rates and rules come into force, so what does the new tax year have in store for you and your business?
Find out moreEssential updates for employers: Spring 2024
In the dynamic world of UK employment, the only constant is change. Staying abreast of the latest updates is imperative for employers.
Find out moreHMRC makes cuts to helpline access permanent
HMRC has announced changes to its helplines from 8th April 2024, to encourage customers to use their online services.
Find out moreIs Capital Gains Tax reducing?
I am getting ready to sell a property that I’m renting out and I know that I may need to pay Capital Gains Tax. I’ve heard that it is going down, is this correct?
Find out moreTips for managing multiple rental properties
In 2021, the Government said that almost half of landlords (43%) have one rental property. Another 39% have between two and four properties, and 18% have five or more properties.
Find out moreHow is National Insurance changing for directors?
I am a director and shareholder in my own company and, having heard the announcement that the class 1 NIC rate for employees is reducing. What is the most tax-efficient method of profit extraction fro...
Find out moreWhat does the abolishment of Furnished Holiday Lets mean for me?
I have a property that I let out as a Furnished Holiday Let (FHL). With the news in the Spring Budget that the FHL scheme will be abolished from April 2025, what does this mean for me?
Find out moreAccounts and Tax guide for the hospitality industry
The hospitality industry is a dynamic and competitive business environment for hotels, restaurants, pubs and bars. Effective financial management is crucial for success and growth.
Find out moreA guide to accounts and tax for new businesses
Thinking of starting a business in the UK or have you already begun? In this guide we look at the accounting and tax aspects you need to consider when starting a new business.
Find out moreYear-end tax planning tips for UK businesses
As the 2023/24 tax year draws to a close, it's crucial for UK businesses to stay informed and prepare for the upcoming year end to maximise your efficiencies. Take a look at our UK business tax planni...
Find out moreCompanies house to increase fees
Companies House has announced that it will be increasing company registration fees from 1st May 2024.
Find out moreHMRC backtracks on tax changes for double cab pickups
HM Revenue and Customs (HMRC) has reversed its changes to the classification of double cab pickups from 1st July 2024.
Find out moreWhat are the changes for double cab pickup trucks?
I own a pickup truck for my business and I am not sure if the tax changes later this year will affect me – what is changing?
Find out moreCan electric cars be used in a salary sacrifice scheme?
I am a business owner and I want to improve my green credentials. I have heard that a way to reduce the emissions is to consider providing a salary sacrifice scheme for employees wanting to buy an ele...
Find out moreWhat is the 60% tax trap?
Income tax rates in England, Wales and Northern Ireland are spread over three taxes. Those in the Basic Rate Band (BRB) pay tax at 20% while those in the higher and additional rate bands pay 40% and 4...
Find out moreWhat tax relief can I claim on property repairs?
I have a rental property that I bought four years ago, I have carried out extensive repairs in that time and I am confused as to what I can and can’t claim as tax relief. Please could you clarify what...
Find out moreChanges at Companies House – what this means for you
The changes to the Economic Crime and Corporate Transparency Act (ECCTA) received royal assent on 26th October 2023. Companies House is “aiming to introduce some of these changes on 4th March 2024… th...
Find out moreChanges coming to reporting employment benefits from April 2026
The reporting and payment of income tax and Class 1A NICs on benefits in kind (BIK) will be made through payroll software from April 2026
Find out moreHow long do I need to keep my tax records?
Now that I’ve submitted my tax return, can I throw the supporting documents relating to my business and P60 away? I’ve got a lot of paperwork from over the years and it’d be great to have a sort out.
Find out more10 year-end tax planning tips for individuals
The UK tax year ends on 5th April and now is the perfect time to think about tax planning. The action you take over the next couple of months can help to maximise your income tax savings.
Find out moreSole trader or limited company – which structure is best for my busine...
Choosing a legal structure is one of the most important decisions for a new business owner, and understanding the options can be challenging.
Find out moreWhat you need to know about associated companies
From 1st April 2023, new associated company rules were introduced, replacing the old rules. We look at what has changed.
Find out more10 things you need to know if you are self-employed
As a self-employed individual you’re paramount to your business. Whether you’re new to self-employment, or you’d like a refresher, check out our top 10 key points in this article..
Find out moreHow do I claim child benefit?
I claimed for child benefit using paper forms and the postal service for my previous children, but I hear there’s an online service now available. How do I claim child benefit for my new baby?
Find out moreReduced National Insurance Contributions – what should I expect on my...
Will I get more take home money this month, following the changes to National Insurance rates?
Find out more5 things you need to know about limited companies
Many see running their business as a limited company as a tax advantageous business structure. We’ve summarised the top 5 insights that you need to know about limited companies.
Find out moreMore businesses turn to their accountants to help navigate the cost-of...
The cost-of-living crisis has resulted in businesses needing more services from their accountants.
Find out moreWhen is my company accounts filing deadline?
I run a company with the 31st March year-end, is my deadline the same as the 31st January tax return filing deadline?
Find out moreHMRC targets the self-employed for side hustle tax
Self-employed individuals with side hustles are the focus of a new HM Revenue and Customs (HMRC) initiative to improve tax collection and regulation management with digital platform reporting rules.
Find out more5 things directors need to know
As a director, we understand you're busy. We want to keep it brief, but we want to make sure you know what you need to so we’ve condensed this information into five points
Find out moreTop expenses for your self-assessment tax return
As a business owner, or self-employed individual, the last thing you want is to pay more tax than you need to. Knowing what allowable business expenses you can include on your self-assessment tax retu...
Find out moreThe Cash Basis: What did the Autumn Statement change?
The Government has considered feedback in relation to its consultation on the expansion and simplification of the cash basis for accounting.
Find out moreWhat is business asset disposal relief?
This article looks at the importance of the capital gains tax relief "Business Asset Disposal Relief" (formerly entrepreneurs’ relief). In an evolving tax landscape business owners seek strategies to...
Find out moreMaking Tax Digital for Income Tax: What did the Autumn Statement chang...
In November 2023, the Chancellor announced the Autumn Statement. While he did not mention Making Tax Digital in his speech, there have been some changes announced in the executive summary.
Find out moreKey tax dates you need to know if you are self-employed
Staying on top of key dates will ensure you stay on track, meet deadlines and avoid paying penalties and interest. We list the key dates sole traders need to be aware of in this concise guide.
Find out moreKey dates limited companies need to know
Staying on top of key dates will ensure you stay on track, meet deadlines and avoid paying penalties and interest. We list the key dates sole traders need to be aware of in this concise guide.
Find out moreThe Minimum Wage and the pursuit of a Real Living Wage
Employers must pay their employees at the hourly rate known as the National Minimum Wage (NMW). In this article, we'll explore the history and growth of minimum wage and the idea of the Real Living Wa...
Find out moreIs my bank interest income taxable?
I have received a lot more interest from my bank this year because of the increase in savings interest rates. I am a higher rate taxpayer and earned almost £1,000 of interest across my accounts. Pleas...
Find out moreSmall and micro companies face accounts reporting changes
The Government is planning to introduce new filing requirements for small and micro businesses to “make the filing requirements easier to understand, reduce fraud and error, and improve transparency”.
Find out moreHow to protect yourself from tax scams
Tax scams are common and often peak around the tax return filing deadline. HMRC responded to over 200,000 tax scams in past year to January 2024, up 14% from the previous 12 months.
Find out moreFive questions you should ask your accountant
As a business owner you want your business to be a success and so should your accountant. The relationship with your accountant is important. They are offering a service and you should be satisfied th...
Find out moreCan I pay my underpaid income tax through my PAYE code?
I’ve just finished my self-assessment tax return and have a balance of tax to pay. I have employment income as well as other earnings that have resulted in the under payment of tax. In previous years...
Find out moreWhat are income tax payments on account?
My tax return has been submitted and I’ve been advised that I need to make payments on account. What does this mean; and how do I work them out?
Find out moreWill I need to pay tax on child benefit income?
My husband and I both work and I am receiving child benefit for our son. Someone has told me about the ‘High Income Child Benefit Charge’. I’m worried I’m going to have to pay tax on the income, pleas...
Find out moreCan I claim mortgage interest as a deduction on my rental property acc...
I have a portfolio of four rental properties and I want to ensure that I am claiming all relevant expenses against the income. I am a little confused over the changes to the claim of mortgage interest...
Find out moreOur Guide to Understanding P60s
A P60 is important as it proves the income tax you have paid on your employment or pension. You can use it as evidence to third parties who may ask to see it. Our guide will explain your P60, includin...
Find out moreBasis period reform – what do I need to do?
I am self-employed and my accounts have a September year end. I keep hearing about the changes to basis periods do I need to do anything
Find out moreWhat tax does a business have to pay?
To help you determine what tax you and your business may be liable for, read this guide.
Find out moreAre flu vaccines for my staff tax free?
I’m a director of company and - to reduce staff sickness - I want to offer to pay for the flu vaccination for my employees. What tax implications do I need to consider?
Find out moreA guide to paying corporation tax
Corporation tax rates changed from 1st April 2023 for the first time since 1st April 2015. It is important to understand and anticipate these changes to allow you to budget for your tax payment.
Find out moreWhen is the tax return deadline for the 2022-23 tax year?
I have heard that the deadline for submitting my self-assessment tax return to HMRC is the end of October. What should I do if I have not sent my tax return information to my accountant yet?
Find out moreWhat is the VAT threshold?
I am an electrician and my income has increased compared to last year. How do I know if I should register for VAT?
Find out moreIs the threshold for filing a self-assessment tax return changing?
I have heard that HMRC will be changing the threshold for taxpayers who pay tax through PAYE to complete a self-assessment tax return. Could you please confirm what the new threshold is and when it wi...
Find out moreCan I claim for working from home tax relief?
As a self-employed builder I am mostly working elsewhere but I do work from home to do my books. Am I able to claim for use of home on my tax return?
Find out more5 things landlords need to know
Being a landlord can be difficult and it’s important to prioritise what you need to know. This short guide to help you on your way, whether being a landlord is new to you or you’d just like a refreshe...
Find out moreMaking Tax Digital: Where are we now?
The Government’s initiative to make the UK’s tax system more efficient was first rolled out in 2019. This guide provides an update on the latest developments with Making Tax Digital and what is to com...
Find out moreA guide to crypto tax
Learn everything you need to know about paying tax on gains and income made from the buying, selling and investing in cryptoassets.
Find out moreNational Minimum Wage Rate Changes
I’ve heard the national minimum wages figures are changing from April, what will they be?
Find out moreI can’t file my self-assessment tax return by 31st January, will I get...
I have to file a 2022/23 self-assessment tax return but am not going to be able to get it filed by 31st January 2024, will I get a penalty if I file it by the middle of February 2024?
Find out moreHow much National Insurance do I pay as an employer?
Employers in the UK pay National Insurance Contributions (NIC) based on the amount you pay your employees. These NICs contribute to a state pot, which funds state benefits.
Find out moreHow bookkeeping works for a sole trader
Unsure what accounting records you need to keep for your business? Learn more about your business bookkeeping responsibilities as a self-employed person, and what information your accountant needs fro...
Find out moreHow much National Insurance do I pay?
Individuals in the UK will make National Insurance Contributions (NICs) based employed income or self-employed profits. These NICs contribute to a state pot, which funds state benefits.
Find out moreThe tax benefits of electric vehicles
The Government is delaying the ban on new petrol and diesel cars by five years. This delay is causing setbacks in the transition to electric vehicles. The requirement is now for all new cars to be zer...
Find out moreChanging from sole trader to limited company
Find out how to change from being a sole trader to being a limited company, including related costs and transferring property ownership.
Find out moreThe benefits of online accounting in a changing business climate
Although manual records, spreadsheets and desktop accounts software have done the job for many years, the evolving needs of small and medium-sized businesses require a more agile bookkeeping solution.
Find out moreWhy and how sole traders can become VAT registered
Find out everything you need to know about registering for VAT as a sole trader, including the current earning threshold past which you must become VAT registered.
Find out moreChanges to landlord Capital Gains Tax rules
Changes to the Capital Gains Tax tax free allowance, the CGT tax rate for higher rate taxpayers and the abolishment of multiple dwellings relief in England and Northern Ireland and Furnished Holiday L...
Find out moreEight steps to making your Payroll Year End easier
The payroll year ends on 5th April, here is our eight-step guide to help you put your payroll in order.
Find out moreFive tax benefits available to your business for going green
Being a green, sustainable business offers improved reputation and makes businesses more attractive to customers and employees. Being green also improves the commercial viability of your operation and...
Find out moreTax saving tips for you and your business
Delving through the array of allowances and reliefs available to help minimise your tax liability can be a daunting process. It can be tricky for small business owners to establish what's available an...
Find out moreFive reasons to outsource your payroll
If your business is expanding and you’re thinking of taking on employees or already have employees but are after some assistance with your payroll look no further. It's understandable to feel daunted...
Find out moreWhat you need to know when filing your tax return and paying your tax...
More than 12 million people are expected to file a self-assessment tax return for the current tax year.
Find out moreMaking Tax Digital
Making Tax Digital (MTD) is the UK Government's plan to modernise the UK's tax system and was announced in the 2015 Budget.
Find out moreHow do I amend my tax return?
I have received a letter from HM Revenue & Customs (HMRC) stating that I may not have told them something and owe tax. I am not sure what to do, please could you help?
Find out moreWhat is the Confirmation Statement?
The Confirmation Statement replaced the Annual Return (AR01) in June 2016.
Find out more