If your only income is from employment, your tax payments are pretty straightforward. But if you have other sources of income – things like dividends, self-employment or property rental – your tax affairs can get a bit more complicated. Under the self-assessment system, you’ll have to make ‘payments on account’ for your income tax liabilities. But […]
Tag Archives: self-assessment
19
Apr
Apr
If you’re self-employed, a partner or a company director, then HMRC will ask you to submit an annual self-assessment tax return. However, every year will see some people failing to register on time for self-assessment – and facing some stiff penalties as a result! So, who needs to fill out a self-assessment tax return? And, if […]
05
Jan
Jan
As we start to recover from the worst effects of the Covid 19 Pandemic, many owners, directors and self-employed individuals remain concerned about having enough funds to pay their self-assessment income tax bill. The good news is that HM Revenue & Customs (HMRC) does have a facility for spreading out your income tax payments. HMRC’s ‘time-to-pay’ […]