Filing a Self Assessment tax return is how individuals in the UK report their income to HM Revenue and Customs (HMRC) when tax is not automatically deducted through PAYE. You must declare your earnings, calculate what you owe and pay any tax due. You usually need to file one if you are self-employed, a freelancer, […]
Making Tax Digital (MTD) is a UK government scheme that requires businesses and self-employed people to keep digital records and submit tax details to HMRC using approved software. The aim is to improve accuracy, reduce errors, and make tax reporting more efficient. For construction workers operating under the Construction Industry Scheme (CIS), MTD represents a
Missing the 31 January deadline can be stressful, especially for freelancers, landlords, personal trainers, or construction workers. The good news is that you are not alone facing this scenario, and the situation can be resolved. Thousands of self-employed individuals across the United Kingdom miss the deadline every year, and there are proper steps you can
Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) is one of the most significant changes to the UK tax system in recent years. Instead of relying on paper records or annual submissions alone, MTD requires taxpayers to keep accurate digital records and submit updates using approved software. Crucially for CIS subcontractors, HMRC calculates your
Benefits in kind are non cash perks that employers provide to employees in addition to their regular pay. Although these benefits are not paid in money, they still have a taxable value. Common examples include company cars, private medical insurance, fuel benefits, and employer-provided accommodation. Because these perks form part of an employee’s overall reward
The UK government has introduced a new property tax known as the Mansion Tax (officially the High Value Council Tax Surcharge, or HVCTS), set to affect high-value residential properties worth £2 million or more starting April 2028. Proposed in the Autumn Budget 2025, this tax will be based on valuations conducted by the Valuation Office
Benefits in Kind (BiKs) are extras that employers provide to staff in addition to their wages. These benefits often have a tax cost. Common examples include company cars, private medical cover, and other workplace perks. Many benefits are reported to HMRC after the tax year ends. This can lead to mistakes and unexpected tax bills
Identity verification is now a major requirement for all UK company directors and anyone involved with company filings. These new rules help make sure every business is linked to real, verified people, which protects companies from fraud and keeps the Companies House register accurate and secure. To complete verification, directors must provide the correct ID
