Self assessment tax returns

SA103 self-employment tax return form

How to Complete the SA103 Self-Employment Tax Return Form?

Self-assessment is a tax system in the UK that imposes an obligation. This is on individuals and businesses to declare their income, deductions, and taxes payable. To comply and avoid legal consequences, it’s crucial to file your self-assessment tax return on time and with all the necessary details. Here’s a detailed guide to help you […]

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MTD for self-assessment

What is MTD for Self-Assessment?

Let’s dive into the world of MTD for self-assessment. This is an initiative introduced by HM Revenue and Customs (HMRC) in the UK to modernise and simplify the process of reporting and paying taxes for self-employed individuals. With the implementation of digital record-keeping and online tax return submissions, the aim is to make the process

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Accounts for Sole Traders

A Beginner’s Guide Based on Setting up Accounts for Sole Traders!

If you intend to associate yourself with self-employment or trading as a sole trader, the most important process you need to learn is to record your income and expenses. Here comes the need to set up your accounts. To set up sole trader accounts, be vigilantly aware of factors like national insurance and tax that

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fraud risk assessment

What Is a Fraud Risk Assessment and How to Conduct it?

As a business owner, you need to work on your business reputation for its long-term sustainability to maintain market confidence and public trust. But frauds and misconducts can adversely affect those efforts leading your business towards legal, monetary or reputational damage. For this reason, successful businesses are using effective strategies to mitigate those risks. That’s

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working as a freelancer

Working As a Freelancer? Here Are Tips to Plan Your Working Year!

It is challenging to fill the empty days of the whole year with a smart working plan that increases your chances to become a high flyer. However, before you aim to fly high in the business world, you have to adopt the skills like forward thinkers and plan your year as a Freelancer. You might

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