Payment on Account – What is it and do I have to pay it?
When you start working for yourself as a sole trader, one of the initial benefits is that you don’t have to pay tax as money comes in – unlike the PAYE system, in which employees’ earnings have tax deducted at source. As a self-employed worker, your first tax bill is likely to be due on the […]
Do I have to complete a Self-Assessment tax return?
Of the many questions you’ll have when you first start to consider going self-employed, one unlikely to top your list is, “do I need to complete a Self Assessment?” It’s probably one of the most important ones, though. A Self Assessment is one of the most significant tax documents you’ll be dealing with when you’re self-employed, […]
What is Self Assessment?
What is Self Assessment Every year millions of people in the UK have to complete a Self Assessment by the 31st January each year. This involves completing a Self Assessment (or Form SA100) and is usually done online, though it’s still possible to file in the old fashioned way with a paper form. Self Assessment […]