Personal accounting

Self Employed

Self-Assessment: HMRC announces new ‘enhanced payment plans’ for self-employed

Oct 06, 2020

From 1 October 2020, individuals who complete Self-Assessment tax returns will now be able to divide their tax bill into monthly instalments, without speaking to an HM Revenue and Customs (HMRC) adviser first. On 24 September 2020, the Chancellor announced that ...

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Self assessment tax return

Time to Pay threshold increased to £30,000

Oct 02, 2020

From this week, Self Assessment customers affected by Covid-19 can apply online to spread the cost of their tax bill into affordable monthly payments. The amount of tax liabilities which can be spread out has also been increased from £10,000 to ...

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Government urged to ensure young people gain access to the Child Trust Fund

Sep 02, 2020

The Government is being urged to ensure that young people gain access to the Child Trust Fund, which was set up by the Government in 2005 to provide young adults with a nest-egg. Those born between 1 September 2002 and 2 ...

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Self Employed

Self-assessment taxpayers can “automatically defer payments on account”, HMRC confirms

Jul 20, 2020

Self-employed taxpayers due to make a payment on account can automatically defer the payment until 31 January 2021, it has been confirmed. The second Self Assessment payment on account for the tax year 2019/20 is usually due at the end of ...

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SEISS

Check your eligibility and make a Self Employment Income Support Scheme claim

May 14, 2020

HM Revenue & Customs is currently contacting eligible individuals regarding the Self Employment Income Support Scheme (SEISS) so that they can begin the application process. You may be eligible for the scheme if: Your trading profits are no more than £50,000, ...

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Last call on tax returns, says HMRC

Jan 28, 2020

HM Revenue & Customs (HMRC) is calling on taxpayers who have yet to submit their tax return to do so urgently. With less than a week to go until the 31 January 2020 deadline, three million taxpayers have reportedly yet to ...

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Spotlight On… civil partnerships for mixed-sex couples

Jan 14, 2020

Mixed-sex couples are now able to enter civil partnerships after Parliament passed the required legislation, meaning that the Civil Partnerships, Marriages and Deaths Act has now become law. Couples were able to give notice for the first time from 2 December ...

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Majority of employees uncomfortable discussing finances at work

Nov 21, 2019

According to the latest research, two-thirds of employees do not feel comfortable talking about their finances at work, despite more than a fifth of people struggling to make ends meet. The research published by Business in the Community as part of ...

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Personal insolvencies on the verge of highest level for a decade

Oct 31, 2019

According to official figures, the number of people facing insolvency is set to reach the highest level for almost a decade, following an annual increase of more than 22 per cent in December. The figures showcase the ongoing problem many British ...

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Millions of workers boosting incomes through side businesses

Aug 05, 2019

According to the latest research, millions of British workers are boosting their income through 'side hustles'. The study of adults in full-time employment by Vistaprint found that almost a quarter of respondents had turned a hobby into a side business alongside ...

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