by Pi Accountancy | Dec 15, 2021 | Business, Corporation Tax, HMRC, MTD, Self-Employed, Taxes, VAT
Making Tax Digital (MTD) is a Government initiative that aims to provide the UK with one of the most digitally advanced tax administrations in the world. Under MTD, taxpayers are required to keep electronic records and report to HMRC digitally. The new MTD timetable...
by Pi Accountancy | Aug 31, 2021 | Director, HMRC, Self-Employed, Taxes
Unique Taxpayers Reference A UTR is your Unique Taxpayers Reference Number, is what identifies you personally with HMRC. It’s 10 digits in length and is quoted on any correspondence you receive from HMRC, including: Your tax return A Welcome to Self-Assessment letter...
by Pi Accountancy | Jul 2, 2021 | HMRC, Self-Assessment, Self-Employed, Taxes
If you are self-employed, you will pay Class 2 and Class 4 National Insurance contributions if your profits exceed the relevant thresholds. Class 2 National Insurance contributions are the mechanism by which you build up qualifying years to earn entitlement to the...
by Pi Accountancy | Jul 2, 2021 | COVID-19, HMRC, SEISS, Self-Assessment, Self-Employed, Taxes
As the Coronavirus Job Retention Scheme (CJRS) enters its final months, now is the time to review grants that you have claimed under the scheme, and pay back any amounts claimed in error. You may also choose to repay voluntarily funding that you have received under...
by Pi Accountancy | Jul 2, 2021 | COVID-19, HMRC, Job Support Scheme, SEISS, Self-Assessment, Self-Employed
Claims for the fifth grant under the Self-Employment Income Support Scheme (SEISS) will open from late July. If, based on your tax returns, HMRC think that you are eligible for the grant, they will contact you in mid-July and give you a date from which you can submit...
by Pi Accountancy | May 12, 2021 | Business, COVID-19, HMRC, Self-Employed, Taxes, VAT
As more people are now working from home, the desire for a designated workspace has become a priority for many. The past year has forced many workers to fill up the dining table and any other flat surface available with monitors, computers, laptops, cables, Wi-Fi...
