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How to start a side hustle and boost your income

Running a side hustle alongside your full-time job is a great way to increase your income. This guide shows you how to get started.

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Thousands submit their self-assessment tax returns on Christmas Day

As many as 4,757 self-assessment taxpayers chose Christmas Day as the ideal time to submit their online tax returns for the 2022-23 tax year.

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Top 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...

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Key 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.

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Tax for the self-employed

For self-employed individuals, the responsibility for reporting and paying the necessary tax relies solely on the individual. It is therefore important to understand what your obligations are and when...

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Who needs to file a tax return?

Self-Assessment is the system that was created by HM Revenue & Customs (HMRC) to ensure the correct amount of tax is collected for a tax year. You should therefore check each year whether you need to...

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A guide to the changes to penalties for late self-assessment tax retur...

The Government is reforming the system of penalties for late submission of tax returns and late payment of tax. This guide outlines the upcoming changes to penalties for Income Tax Self-Assessment (IT...

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600,000 miss the self-assessment tax return deadline

This year saw a record 97% of taxpayers in the UK filing their 2021-22 self-assessment tax returns ahead of 31st January, but an estimated 600,000 still missed the deadline, earning instant £100 late...

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HMRC seeks out online traders and freelancers over unpaid tax

HM Revenue and Customs (HMRC) is targeting online traders, content creators and social influencers about their tax obligations from digital earnings.

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HMRC pilots text system trialled to cut waiting times

HM Revenue and Customs have started trialling a text service, which sees routine calls answered by text instead of a human to reduce waiting times.

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Self-assessment taxpayers urged to remain vigilant ahead of 2021-22 ta...

The number of tax fraudsters operating in the UK rises on the eve of the self-assessment tax return deadline and this year is no different.

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What are the penalties for filing a late tax return?

The deadline for filing your 2022/23 self-assessment tax return online is 31st January 2024. The paper tax return deadline was 31st October 2023.

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5.7 million yet to file their self-assessment tax return as deadline l...

The 31st January 2023 deadline for 2021-22 self-assessment tax returns is fast approaching. HM Revenue and Customs (HMRC) states that almost 5.7 million individuals are yet to file their returns and c...

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Almost 800,000 fraudulent tax-related emails and texts issued in 2021

HM Revenue and Customs has received reports of approximately 800,000 scam texts and emails so far this year, all purporting to relate to self-assessment tax returns and tax rebates.

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Do you need to complete a self-assessment tax return?

Although not everybody needs to complete a self-assessment tax return, there are several situations where you could be required to complete one, even when you are an employee and have tax deducted fro...

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How 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.

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Airbnb host earnings now received by HMRC

HM Revenue and Customs (HMRC) now has access to the income of Airbnb hosts, highlighting the importance of landlords being transparent about their taxable lettings income.

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The benefits of having your tax return filed early

Although the deadline is months away, did you know there many benefits to filing your return sooner rather than later?

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Paper self-assessment tax returns will no longer be sent automatically

HMRC has stated from this April it will no longer send out paper returns to self-assessment taxpayers in a bid to encourage them to use the online service and reduce paper waste.

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Over 100,000 tax returns filed by the TaxAssist Accountants network

Now the 31st January deadline for 2018-19 self-assessment tax return submissions has passed, TaxAssist Accountants can confirm it has filed more than 100,000 personal tax returns on behalf of its nati...

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Nearly one million miss the self-assessment tax return deadline

This year saw 95% of taxpayers in the UK filing their 2018-19 self-assessment tax returns ahead of 31st January, but 958,296 missed the deadline, earning instant £100 late filing penalties.

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Survey finds that doing your own tax return is a false economy

An independent survey of UK taxpayers revealed almost a third of those who file their own self-assessment tax return don’t fully understand what they can and can’t claim for.

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What your accountant needs to file your tax return

The records you provide to your accountant ahead of the self-assessment tax return deadline may change each year. Our guide explains what they will need to file your tax return.

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Act now so you don’t miss the Tax Return deadline

HM Revenue and Customs (HMRC) has reminded UK taxpayers eligible for 2019-20 self-assessment to complete their tax return before the 31st January 2020 deadline.

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What 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.

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The benefits of filing your tax return today

The deadline for tax returns is on January 31st. It's important to file yours early for various reasons.

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What is a payment on account?

If you are self-employed or have income that is not taxed before you receive it, you may have a tax bill to pay, but are you aware how the tax stage payments can impact your cashflow?

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What to do if you miss the tax return deadline

The deadline for filing your 2022/23 self-assessment tax return online was 31st January 2024. The deadline for paper tax returns was 31st October 2023.

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Late tax returns and reasonable excuses

The deadline for filing 2022/23 self-assessment tax returns is 31st October 2023 for paper returns and 31st January 2024 for returns filed online.

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Read our expert answers to your Self Assessment Tax Returns questions

How 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.

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Is 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...

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Can 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...

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What 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?

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When 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?

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Is 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...

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Why should I do my self-assessment tax return early?

Are there any benefits to doing my tax return early, other than being organised?

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Can 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?

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What interest will I be charged if I pay my tax late?

I don’t believe I will be able to pay my tax liability due on 31st January and wondered what interest HMRC will charge on the underpaid tax?

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Do I have to complete a self-assessment tax return?

I have heard that I may need to complete a self-assessment tax return, but how do I know?

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Why you should not delay filing your tax return

I thought that HMRC had 12 months from the tax return deadline to open an enquiry into my self-assessment tax return which is why I normally wait until then to submit the return. Is this a sensible ap...

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I 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?

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Do I need to complete a self-assessment tax return if I have done a ca...

My real-time capital gains tax return for the sale of my residential property has been submitted but what happens next, do I still need to do a self-assessment tax return?

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Self-Assessment Tax Return: Missed your second payment?

I don’t have enough money to pay my second payment on account in July, what should I do?

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Receiving interest when lending your company money

I have lent my company some money, can the company pay me interest?

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When to pay a second payment on account

My second payment on account is due by 31st July 2023, do I have to pay this?

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Choosing to be a limited company or sole trader as a contractor

As a CIS contractor on top of the normal issues surrounding whether to be a limited company or a sole trader, are there any CIS specific issues to be aware of?

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How do I get a tax refund if I am a subcontractor?

I’ve been working as a labourer for a couple of years now. One of my friends mentioned that he'd just got a big tax refund. How do I get a tax refund?

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Why can I only claim Self-employment Income Support Scheme up to the e...

At the moment the Government scheme only covers the period until the end of May

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Self-Employment Income Support Scheme: what is meant by profits?

I think I may be eligible for the Self-Employment Income Support Scheme, as the guidance says my trading profits must be less than £50,000. What is meant by ‘profits’? Are these the sales that I make...

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Tax Credits renewal for self-employed

Before I fill in my Tax Credits renewal form, do I have to complete my tax return first if I am a sole trader?

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Consequences of paying tax late

I am newly self-employed and have been rather unorganised this year. I just managed to get my 2020/21 tax return filed online on 31st January 2022, but I didn’t have enough cash put aside for my tax b...

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Can I amend my Income Tax Return?

I rushed the submission of my tax return in January, and realised that I missed off the interest I received from my bank accounts and dividends received from some investments during the 2018/19 tax ye...

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Are you able to prevent receiving penalties for missing the tax return...

I missed the 31st January deadline for filing my self-assessment tax return – can I stop HM Revenue and Customs (HMRC) from issuing any penalties?

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Does my P11D have to go on my tax return?

I am in employment but I also have some rental income so I need to complete a tax return. Does my P11D need to go on my tax return? 

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Are professional fees and subscriptions allowable for tax?

I am employed as a teacher and pay several professional fees and subscribe to a few journals such as Educate magazine. Am I entitled to tax relief on these payments?

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How do I register to file a tax return?

I have just received my Unique Taxpayer Reference (UTR) as I need to file a tax return this year. What is the next step to filing my tax return?   

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Do I need to complete a self-assessment tax return?

I have heard that the deadline for completing a self-assessment tax return is 31st January, but I am not sure whether I need to complete one?

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Cannot pay my tax bill

I filed my tax return on time, but I cannot afford to pay my tax bill. What should I do? 

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Can I pay my tax bill through my PAYE tax code?

I have just prepared my tax return online and have tax to pay for 2020-21, can I pay this through my tax code?

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Why is my tax bill so high?

I have just completed my tax return online for the first time and it says I owe £8,000 in tax this January. I had already estimated it would be in that region, so that wasn’t a surprise. However, it a...

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How 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?

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What penalties can I expect for a late tax return?

I am yet to file my tax return. What penalties can I expect?

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What should I do if I cannot pay my tax bill?

I filed my tax return ontime, but I could not afford to pay my tax bill.  What should I do? 

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Filing tax returns

I have just received my Unique Taxpayer Reference as I need to file a tax return this year. What is the next step to filing my tax return?

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