031 Why Self-Employed People Don’t Need An Accountant

Lots of self-employed people assume that they will need an accountant to help them to manage their finances and submissions to HMRC, but is that really the case?  No, definitely not according to Elaine Clark of CheapAccounting.co.uk and TaxBootCamp.  Now, Elaine is herself a Chartered Accountant and her business includes providing accountancy services to self-employed […]

YOUR Income Could Be Reported Directly To HMRC

The Financial Times has reported that online marketplaces such as Amazon, Airbnb, Deliveroo, eBay and Uber will be required to report the income made by sellers on their websites and apps to HMRC from January 2023, in a move affecting gig workers, freelancers and self-employed people. This move forms part of the government’s implementation of […]

HMRC’s ‘Simplification’ For Self-Employed Accounts

HMRC has issued plans to alter how self-employed people manage and pay their tax costs, due to come into effect in 2023.  In essence the proposal replaces the ‘current year basis’ method for establishing taxable profits / allowable losses with a ‘tax year basis’ method instead.  This means that self-employed people will be required to […]

019 Going Freelance Mid-Pandemic

We all know that unfortunately many people have lost their jobs as a result of the pandemic, and a number of those have since gone on to set up their own self-employed business.  Today we’re chatting to one such successful entrepreneur, Jessica Ross, about her experience of setting up her business mid-pandemic.  When we invited […]

Fun Facts About Self-Assessment

Now that we are just weeks away from the self-assessment deadline, here are some fun facts issued by HMRC: 96,519 people filed their tax return on 6 April 2020 (first day of the tax year); It’s now the 20th anniversary of Self Assessment internet filing, the service began on 3 July 2000; In January 2011, […]

009: Freelancing and Finding Work With a Disability, a Chat with Paralympian Liz Johnson

Today we’re privileged to be talking to Paralympian Liz Johnson about disability and the inequitable experience of disabled work-seekers who are often self-employed freelancers.  This is a really eye-opening chat as there are so many things that we ought to be aware of in relation to being inclusive.  We talk about the concept of #oneworkforce […]

COVID-19 could be a reasonable excuse for late filing of your tax return

HMRC has confirmed that COVID-19 could be a “reasonable excuse” for filing your tax return late, but this is not automatic and taxpayers will need to provide details to justify their case.  There are approximately 5 million people that have not yet submitted their tax return (deadline 31 January) and HMRC are encouraging everyone to […]

2,700 tax returns were filed on Christmas Day

According to official HMRC figures, some 2,700 people filed their self-assessment tax return on Christmas Day in 2020.  The peak time for completing tax returns was 14:00 to 14:59, with more than 200 customers pressing send on their online form. In total, 31,400 customers completed their 2019 to 2020 tax returns between 24 and 26 […]