You’ve decided to branch out on your own. Your business plan is solid and you’ve chosen how to trade. You’ve sorted your bank account, insurance is covered and you’ve registered with HMRC. You’ve got a swanky new office, your employees are due to get paid at the end of the month and everything feels pretty
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Tag Archive for Tax returns
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How to save yourself a £100 fine for late filing
by Owen Gough • • 0 Comments
The Low Incomes Tax Reform Group (LITRG) urges taxpayers who miss the Self-Assessment filing deadline on Tuesday (31 January) but who have a reasonable excuse for the delay, to appeal against penalty for late filing. LITRG supports HMRC’s efforts to encourage people to file returns and pay tax due from them by the proper date. But
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Study highlights SME distaste of long tax return processes
by Owen Gough • • 0 Comments
With the tax self-assessment deadline fast approaching on 31st January, many tax payers will be preparing to submit their return on time, or risk facing a penalty. Perhaps unsurprisingly, not everyone is a fan of this process. New research, carried out by YouGov for 1Tap Receipts, the expenses management app for the self-employed, finds that over
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Sole traders spend 9.5 million hours doing their tax returns
by Owen Gough • • 0 Comments
With the self-assessment deadline looming, new research highlights the huge burden that the current tax returns system puts on sole traders. The research, carried out by YouGov for 1Tap Receipts, finds that 45 per cent of sole traders spend five hours or more completing their tax returns, and 22 per cent say they spend ten hours or more
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Sole traders spend 9.5 million hours doing their tax returns
by Ben Lobel • • 0 Comments
This equates to a total of 1.89 million sole traders in the UK who are spending the best part of a working day on their self-assessment each year, according to a study carried out by YouGov for 1Tap Receipts. The research identifies that most sole traders are taking an independent approach when it comes to managing
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Why small businesses need to be diligent with digital tax returns
by Owen Gough • • 0 Comments
The deadline to submit a paper tax return for self assessment is looming (on October 31st). However, the majority of UK businesses have already made the switch over to digital tax returns. This past tax year 89 per cent of customers (9.24 million) opted to use HMRC’s online self assessment service for their tax returns. With
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