This week’s Spring Statement brought two announcements that will matter to anyone running their own business or earning income from property.
Self employed & self assessment
Hidden charges alert as 2.3 million miss Self-Assessment deadline
To many taxpayers, it must seem like the ongoing effects of the pandemic are an endless nightmare of tax deadlines, after the endless nightmare of lockdowns.
Late filing penalties waived for one month to give taxpayers more time to prepare 2020/21 tax return
Late filing and late payment penalties will be waived for one month to give taxpayers more time to prepare their 2020 to 2021 Self Assessment tax return, it has been announced. Read more
HMRC asks sole traders to correctly report SEISS grants or “repay in full”
Sole traders who have not correctly reported their Self Employment Income Support Scheme (SEISS) grants may be forced to repay them in full, it has been warned.
Are you a Self-Assessment taxpayer?
If you are, then keep reading… Read more
Self Employed? HMRC’s self-serve Time to Pay facility may help you pay tax
Self employed workers who believe they may struggle to pay tax this year should consider arranging an affordable payment plan, HM Revenue & Customs (HMRC) has said. Read more