This discussion is based on the tax return deadline. The process of paying taxes and fulfilling all the demands related to it can turn out to be daunting at times. This guide will help you to gather everything that you need to know in this regard. Let us get started. Get in touch with […]
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Are you worried about adding pension contributions to the tax return? Retirement planning is an essential aspect of personal finance. A pension plan is one of the most important components of a financial retirement plan. A pension plan is a scheme in which an individual saves and invests for their retirement. It’s crucial to consider
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Even if you pay all your tax through PAYE, you may still need to complete a Self-Assessment tax return if you are a high earner. For 2022/23 and earlier tax years, this is the case if your income is more than £100,000. However, for 2023/24 onwards, the trigger threshold is increased to £150,000. Unless you
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If you incur expenses in doing your job, you may be able to claim tax relief. While the rules governing the availability of relief are strict, the process for claiming relief where it is available is relatively straightforward. Availability of Tax Relief Expenses that may qualify for tax relief include travel expenses incurred in
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There are possible chances of making a mistake in the tax returns. If you are the one who is dealing with the same issue right now, the first thing you would want to know is how to amend tax return errors. There are several people who are confused with thinking that this is not possible
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If you need to file a self-assessment tax return for 2021/22, you must do this online by 31 January 2023 if you want to avoid a late filing penalty. However, if you received your notice to file a tax return after 31 October 2022, a later deadline applies; you must file the return within three
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If you receive rental income from properties that you let out, you will need to tell HMRC about it on the property pages of your self-assessment tax return. The exception to this is where you let a furnished room or rooms in your home and the income that you receive is below the rent-a-room limit
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If you are a freelancer or self-employed person, you have to submit your tax returns yourself to the HMRC. On the contrary, if you are employed in a company, your employer is responsible to manage your tax deductions from your wages and NICs. Do I need to complete a tax return as a self-employed person
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All the limited companies are required to file a company tax return to Her Majesty’s Revenue and Customs (HMRC) within the given period. In this short blog, we’ll discuss what is a company’s tax return, how to file it, and who’s responsible for filing it. Understanding Company Tax Returns: Company Tax Return is
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