Category: Self-Employed Tax
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Self employed National Insurance rates 2026/27
For the upcoming tax year (running from 6 April 2026 to 5 April 2027), here is exactly what you will pay in self-employed National Insurance: Taxes can feel incredibly overwhelming, especially when you are working for yourself and have to manage everything on your own. It is completely normal to feel a bit lost when…
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Can I claim for a laptop bought in March?
Yes, you absolutely can! If you are a self-employed sole trader in the UK, buying a laptop in March is a perfectly valid business expense to claim on your tax return. Here is a simple guide to how it works and why buying in March is actually a smart move. The “March” Advantage In the…
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HMRC late filing penalty appeal
Yes, you can appeal an HMRC late filing penalty. To succeed, you must have a “reasonable excuse” for missing the deadline, and you usually need to make your appeal within 30 days of the date on the penalty letter.+1 Step 1: Check if you have a “Reasonable Excuse” HMRC will not accept an appeal just…
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How long do I need to keep receipts UK?
You must keep your receipts for at least 5 years after the 31 January submission deadline of the relevant tax year. Since tax returns are filed nearly a year after the tax year ends, this usually means keeping records for about 6 years in total from the date of the receipt. How the dates work…
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Do I need to do MTD if I earn under 50k?
If your total income from self-employment and property is under £50,000, you do not need to switch to Making Tax Digital (MTD) in April 2026. You can continue using the normal Self Assessment tax return for now. However, the rules are changing in phases. If you earn more than £30,000, you will need to join…
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How do I get my tax year overview?
If you are self-employed and applying for a mortgage, your lender will need proof of your earnings. One of the most important documents they will ask for is the Tax Year Overview. Here is exactly how to find and print it from your HMRC online account: Step-by-Step Instructions Important Timing Note: If you have only…
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How to authorize someone to deal with HMRC for you
To authorize someone, you must choose the method based on who acts for you: Option 1: Authorizing a Paid Accountant (Tax Agent) A paid professional (like an accountant) acts as your “Tax Agent.” Once authorized, they can handle almost everything for you. They do not need you to be on the phone or sitting next…
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Where can I find guidance on Making Tax Digital for income tax?
The most up-to-date and official rules are found on the GOV.UK website. You should look for the collection titled: “Making Tax Digital for Income Tax” Specifically, search for the page “Find out if and when you need to use Making Tax Digital for Income Tax.” This is the definitive source from HMRC that is updated…
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How to register as self employed for the first time?
To register as self-employed, you must tell HMRC by registering for Self Assessment. The quickest way is online: Step-by-Step Instructions 1. Check if you actually need to register You generally need to register if you earned more than £1,000 from self-employment between 6 April and 5 April the following year. This £1,000 is your “trading…
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What happens if you don’t pay your tax by 31st January
If you miss the 31st January deadline, HMRC will start charging you interest immediately (from 1st February) on any unpaid tax. Do not ignore it. If you cannot pay, contact HMRC immediately to set up a “Time to Pay” plan. This stops the penalty fees, though interest will still build up. Missed the 31st January…