Can I Request an Extension for my Tax Bill Deadline?

Filing your tax return and paying your tax bill on time are essential if you’re hoping to stay out of trouble whilst managing things like cash flow, budgets and expenses. But if your cash flow takes a hit, what happens if you’re having problems paying the tax you owe? Let’s take a look at HMRC…

Your Guide to Making Tax Digital

Making Tax Digital, or MTD for short, is an initiative actioned by HMRC to create a simpler, more efficient tax system for everyone involved. The scheme significantly changes the way businesses record and report tax information in a bid to streamline both processes and systems. MTD rules are rolling out in stages, with VAT-registered businesses…

What Are Payments on Account?

If you’re about to submit a Self Assessment or you’re still fairly new to it, then you might stumble across ‘payments on account’. These are basically advance payments that you make towards your self-employed tax bill, but not everyone needs to make them. To help you plan ahead and manage your cash flow, we explain…

National Insurance for the Self Employed

National Insurance for the Self-Employed in 2023/24 and 2024/25

Nobody enjoys seeing deductions come out of their hard-earned cash, but paying National Insurance is one of the necessary evils of self-employment. The amount that you pay towards NI depends on how much you earn, and even how you earn it, such as through an employer or as someone who works for themselves. Why do…

Can I Pay Tax Online?

You can do almost anything online nowadays, from grocery shopping to learning how to play the guitar. Whatever springs to mind – there’s a virtual way to make it happen. But what if you just want to pay your taxes? The good news is you absolutely can pay your taxes online. There are different ways…