Category Archives: Financial

Importance of Completing a Self-Assessment Form

Permanent workers are usually paid via Pay As You Earn (PAYE). PAYE ensures that the employee's income tax, national insurance, and student loan repayments have been deducted before the employee receiving their pay. However, self-employed individuals must pay to ensure that they have paid their taxes, national insurance contributions, and student loan repayments. If you are self-employed you must complete a self-assessment form to figure out what you owe and ensure that you have made payments before the deadline.

What Your Self-Assessment Covers

self-assessment The tax year runs from April 6th through to April 5th - if you have earnt over the tax threshold you'll need to pay a percentage of tax on earnings over this percentage. For the 2018/19 tax year, everyone receives a personal allowance of £12,500, earnings of £12,501...

Budget 2018

Budget - The Chancellor’s Autumn announcements were made on the 29th October...here's a summary of what transgressed. MORE MONEY FOR NHS AND AN END TO AUSTERITY? As previously announced, these were the main themes of the Chancellor Phillip Hammond’s third budget but what we were waiting to hear was where the extra money was going to come from? Had he found a “Magic Money Tree”, or would tax and borrowing have to increase? We now know that the extra money will come from better than expected economic growth and consequential increased tax revenues. But there may have to be a Spring 2019 Budget if Brexit negotiations don’t go to plan…. PERSONAL ALLOWANCE AND HIGHER RATE LIMIT INCREASED EARLY The Government’s manifesto pledge back in 2015 was that the personal allowance would rise to £12,500 in 2020 and the higher rate...
Sign up for our Newsletter

Sign up and get the latest information

Your Name

Your Email

Subscribe!