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Tax
1 year ago

Payment on Account: Do you need to pay it?

Many taxpayers often overlook the ‘payment on account’ system. In this article, we aim to shed light on when...
Many taxpayers often overlook the ‘payment on account’ system. In this article, we aim to shed light on when you should be making your ‘payment on account,’ to HMRC, dissecting its essence, its bearing on y...
Tax
1 year ago

Navigating the Appeal Process for a Self-Assessment Late Penalty

Have you recently received a penalty notice for late submission of your tax return? If so, you’re not alone. Every...
Have you recently received a penalty notice for late submission of your tax return? If so, you’re not alone. Every year, HM Revenue and Customs (HMRC) issues countless automated penalties for late filings. The good news is, ...
Tax
1 year ago

LATE PAYMENT INTEREST IF YOU DO NOT PAY VAT OR PENALTIES ON TIME

Introduction to New VAT Late Payment Penalties Let’s face it – nobody likes to be late, especially when it c...
Introduction to New VAT Late Payment Penalties Let’s face it – nobody likes to be late, especially when it comes to paying taxes. And from 1st January 2023, His Majesty’s Revenue and Customs (HMRC) has implemente...
Tax
1 year ago

HMRC’s New Guidelines: Streamlining Error Reporting in VAT Returns

Her Majesty’s Revenue and Customs (HMRC) has recently introduced new guidelines to simplify and streamline the pro...
Her Majesty’s Revenue and Customs (HMRC) has recently introduced new guidelines to simplify and streamline the process of reporting errors in VAT (Value Added Tax) returns. These guidelines are aimed at businesses and provid...
Tax
2 years ago

The Tax Implications of Being a Contractor in the UK

The Tax Implications of Being a Contractor in the UK Are you considering working as a contractor in the UK? If so, it is...
The Tax Implications of Being a Contractor in the UK Are you considering working as a contractor in the UK? If so, it is important to understand the tax implications of this type of work. As a contractor, you are considered self-e...
Tax
2 years ago

The Top 9 Tax Planning Tips for Contractors

The Top 9 UK Tax Planning Tips for Contractors As a contractor, managing your tax affairs can be complex, time-consuming...
The Top 9 UK Tax Planning Tips for Contractors As a contractor, managing your tax affairs can be complex, time-consuming, and expensive. However, effective tax planning can help you save money and stay on the right side of HM Reve...
Tax
2 years ago

How to Budget for Your Business as a Contractor

How to Budget for Your Business as a Contractor If you’re a contractor, you know how important it is to have a bud...
How to Budget for Your Business as a Contractor If you’re a contractor, you know how important it is to have a budget for your business. But creating a budget can be overwhelming, especially if you’re just starting out...
Tax
2 years ago

How to Calculate Your Break-Even Point as a Contractor

How to Calculate Your Break-Even Point as a Contractor As a contractor, it’s crucial to understand your break-even...
How to Calculate Your Break-Even Point as a Contractor As a contractor, it’s crucial to understand your break-even point. This is the point at which your total revenue equals your total expenses, and you start making a profi...
Tax
2 years ago

How to Price Your Services as a Contractor

How to Price Your Services as a Contractor As a contractor, one of the biggest challenges you face is determining the ri...
How to Price Your Services as a Contractor As a contractor, one of the biggest challenges you face is determining the right price for your services. Pricing too low can result in lost profits, while pricing too high can drive pote...
Tax
2 years ago

What Are The Benefits of Outsourcing Your Accounting to a Contractor Accountant?

What Are The Benefits of Outsourcing Your Accounting to a Contractor Accountant? As a contractor, managing your finances...
What Are The Benefits of Outsourcing Your Accounting to a Contractor Accountant? As a contractor, managing your finances and keeping track of your accounting can be overwhelming. With the constant demands of running your business ...
Tax
2 years ago

Top Tips for Choosing a Contractor Accountant

Top Tips for Choosing a Contractor Accountant As a contractor, it’s essential to choose the right accountant to he...
Top Tips for Choosing a Contractor Accountant As a contractor, it’s essential to choose the right accountant to help manage your finances effectively. Not only can they assist with tax returns and bookkeeping, but they can a...
Tax
2 years ago

The Benefits of Cloud-Based Accounting for Contractors

The Benefits of Cloud-Based Accounting for Contractors As a contractor, you’re likely always on the go, whether yo...
The Benefits of Cloud-Based Accounting for Contractors As a contractor, you’re likely always on the go, whether you’re at a job site or meeting with clients. Keeping track of your finances can be a daunting task, but w...

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