HMRC are now writing to more and more sole-traders who have incorrectly claimed any one of the FIVE SEISS (self employment income support scheme) grants during 2020 and 2021 demanding repayment. You should be aware of the conditions for repayment and make the necessary arrangements to repay sooner rather than wait for HMRC to add…
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Check out the short clip below, many thanks to Pixel Click and Kardesign!
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UK Tax rates explained in plain and simple English (using buckets!)
People often get confused about tax and a common misconception is around how tax works for the higher tax bands. People often think “Oh I don’t want to earn too much as I’ll get taxed at 40% and I’ll lose out”. THAT’S NOT HOW IT WORKS! Here’s a handy guide to simplify and explain things.
Read MoreSelf Assessment Tax Return How-To Guide by LeeP Accountants Peterborough
Get your records in order Record-keeping is a vital for every self-employed person. You have a range of legal obligations when it comes to record-keeping – but entirely apart from this, the Self Assessment process will be significantly easier if you have the relevant documents easily to hand, and organised in an effective way. The…
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Bit of surplus cash? Here’s how to invest tax efficiently….
So, you have a bit of surplus cash and you want to make sure it is invested as tax efficiently as possible… What about Stocks and Shares? 1. Share-based investments You could buy shares… These could be shares from a private or, if you knew what you were investing in, a public (plc) company such…
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I Only Earn A Small Amount Of Rental Income (Inc. Airbnb Income)- Do I Have To Declare It?
I have been asked this question many times and the answer is invariably the same – “As a UK resident with any rental income you most certainly do need to declare your rental income”. There is no such thing as a minimal level which HMRC would not be interested in. Whether you have to pay…
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