Significant changes are scheduled for the UK tax system in 2026. MTD ITSA will become mandatory for sole traders and landlords earning over £50,000 from 6 April 2026. Employers should also prepare for updates in benefits reporting. Although HMRC initially planned to mandate payrolling of most benefits in 2026, this has now been postponed to […]
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,
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
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
Many people worry about whether HMRC can secretly access their bank accounts or withdraw money without warning. The government’s growing focus on tackling tax evasion and undeclared income, these concerns are understandable. While HMRC (His Majesty’s Revenue and Customs) does have certain legal powers to access financial information, it is crucial to understand when and
It’s tax season again, and the self-assessment deadline is quickly approaching. It’s important to get everything in order to avoid any last-minute stress. In this blog, we’ve answered some of the most common questions about Self Assessment from key deadlines and filing methods to what to do if you make a mistake. 1. When is
Self Assessment season is coming , and while most taxpayers are busy preparing their returns, fraudsters are also on the lookout. Every year, thousands of people fall victim to scams designed to steal personal and financial information. These scams often appear as emails, texts, or phone calls that look like they come from HMRC. It’s
Making money from YouTube, TikTok, Instagram, or freelance projects counts as self employment in the eyes of HMRC. Even if it’s only a side hustle, you’re responsible for keeping track of your earnings and paying the right taxes. Filing taxes properly helps you avoid fines, stay organised, and understand how much you really earn after
