Periodically we put together information that you find of interest:

 

04Jun 2016

Once you decide to work for yourself you become ‘self employed’ or a ‘sole trader’. You need to register with HMRC as soon as you can after starting your business. At the latest, you should register by 5 October in your business’s second tax year. It’s a relatively simple process and can all be done on-line – […]

19Apr 2016

Back in the July 2015 budget the tax free allowance for renting a room – which applies to landlords who rent a spare room out in their house – rose from £4,250 to £7,500 a year. This great news has been followed with two new £1,000 tax-free allowances offered on income from people making relatively small amounts of […]

28Mar 2016

Compulsory Registration Her Majesty’s Revenue and Customs (HMRC) require a business to register for VAT if: Turnover (Sales) are more than £83,000 (the threshold) in a 12 month period You receive goods from the EU over £83,000 You expect to go over the threshold in a single 30 day period You can register voluntarily if […]

29Feb 2016

You need to register with HMRC as soon as possible after starting your business and at the latest by the 5th October after your first year of trading. How to register This depends on your circumstances. Newly self employed who’s not sent tax returns before Tell HM Revenue and Customs (HMRC) you want to be […]