Category: Self-Employed Tax

If you receive income from property in the UK, you may need to tell HMRC about it through Self Assessment, and one of the forms you are likely to come across is the SA105 form. The name can make it sound more complicated than it really is, because SA105 is simply the property section of…

If you are self-employed in the UK and complete a Self Assessment tax return, you may come across two forms called SA103S and SA103F. Both are used to report self-employed income and expenses to HMRC, but they are designed for different types of businesses. The names can make them sound more complicated than they really…

Can I Do Tax Return Myself? Yes, you can do your own tax return in the UK if you are confident that you understand the rules and your tax affairs are relatively straightforward. HMRC provides an online Self Assessment service that allows you to complete and submit your return yourself. Many people successfully file their…

A Unique Taxpayer Reference (UTR) is a 10-digit number issued by HMRC to identify you for tax purposes. If you need to complete a Self Assessment tax return, register as self-employed, or run certain types of businesses, your UTR is one of the most important numbers you will have. Your UTR normally stays with you…

If your Self Assessment record has been closed by HMRC, you usually do not need a new UTR number. In most cases, your original Unique Taxpayer Reference (UTR) stays with you for life, but your Self Assessment account may become inactive if HMRC decides you no longer need to file tax returns. If you become…

It depends on how you choose to calculate it. You can either claim a flat rate of up to £26 a month (if you work from home for 101 hours or more per month) using HMRC’s “simplified expenses”, or you can calculate the actual proportion of your household bills that are used for business. If…

You are entirely exempt from the Construction Industry Scheme (CIS) if your work falls outside HMRC’s definition of construction. This includes architects, surveyors, carpet fitters, people who deliver building materials, companies that manufacture building supplies, and businesses that hire out scaffolding without providing the labour to set it up. Additionally, if you are a homeowner…

What is the second payment on account? If your tax bill last year was over £1,000, HMRC makes you pay this year’s tax in advance. They split this estimated bill into two equal halves. The “second payment on account” is simply the second half of that bill. For example: Let’s say your tax bill for…