10 essential items of information you need for Self Assessment (and where to find them)

Filing a Self Assessment tax return can seem daunting, so it makes sense to gather all the necessary information before you start. In our latest blog, we list the most common items you’ll need and provide advice on where to find them.

The benefits of submitting your Self Assessment tax return early

Filing your self-assessment tax return might not be the most exciting task on your to-do list, but submitting it early comes with several significant advantages. Whether you're self-employed, a landlord, or have other income that requires a self-assessment, getting it done well before the January 31st deadline can save you time, money, and stress. Here are the key benefits of filing your tax return early.

Debunking common myths surrounding Self Assessment tax returns

Filing a self-assessment tax return is a task that many dread, often because of the myths and misconceptions surrounding the process. These myths can lead to unnecessary stress, missed deadlines, and even financial penalties. To help clear up some of the confusion, let’s debunk some of the most common myths about self-assessment tax returns.

10 key expenses to claim for on your tax return

Filing a Self Assessment tax return as a self-employed individual can be a complex process, but it's also an opportunity to reduce your tax liability by claiming allowable expenses. However, many self-employed people miss out on deductions they’re entitled to because they overlook certain expenses. 

To ensure you’re maximising your tax savings, here are the key expenses you should not overlook when completing your Self Assessment tax return.

Understanding basis period reform and the transitional year rules as a self-employed individual

If you’re self-employed, you might have heard about something called “basis period reform” and the “transitional year” rules. These terms can sound confusing, especially if you’re not familiar with accounting or tax practices. This article will break down what these changes mean and how they could affect you.

10 common mistakes people make when filing a Self Assessment tax return (and how to avoid them!)

Filing a Self Assessment tax return can be a daunting task, especially if you're doing it on your own. From missing deadlines to making calculation errors, many taxpayers make avoidable mistakes that can lead to fines, penalties, or even investigations. To help you navigate the process smoothly, here are ten of the most common mistakes individuals make when completing their Self Assessment tax return.

Taxes - Time to Pay

There are a range of business support measures available for businesses and individuals, which include deferring payment of certain taxes.

Self-Employed Income Support Scheme: “one of the most significant economic interventions”

Last night the Government announced a scheme that assists the self-employed across the country during the COVID-19 pandemic. The Self-Employed Income Support Scheme will provide self-employed individuals a taxable grant worth 80% of trading profits, up to £2,500 a month for the next three months. It will also apply to members of partnerships.