Class 4 National Insurance is for self-employed people with annual profits over £12,570. But to really understand Class 4 National Insurance, it’s worth learning about the other National Insurance classes, and who pays them. What is Class 2 & 4…
As soon as you register as self-employed, HMRC will send you a Unique Taxpayer Reference (UTR) number by post. On top of this, they’ll set up an online HMRC account for you, and send you instructions on how to access…
Once you start working on a self-employed basis, you’ll soon realise just how pricey it can be to run any sort of business. No matter what type of goods or services you offer, you’re going to incur lots of expenses….
Self-employed people must pay National Insurance contributions. But the good news is that the rate you’ll pay is lower than the rate employees pay. This is your essential guide to National Insurance for the self-employed. We’ll explore how much you…
If you’re new to the world of freelancing, then you may also be new to the world of tax returns. When you work for a company, tax is relatively straightforward – it’s just a figure that shows up on your…
Can’t pay your tax bill? Don’t worry. There are some steps you can take, whatever the issue you’re facing. If you can’t pay your tax bill for financial reasons, this post will explore the help and support that’s available. But…
When you submit your tax return at the end of the financial year, you have to tell HMRC about all the income you’ve received from all sources – including self-employment, property, capital gains, and so on. This is so HMRC…
UTR stands for Unique Taxpayer Reference. The government uses your UTR number as a means of keeping track of you for tax purposes. They can’t use your name for this, as lots of people might share the same name. Nor…
All businesses, big and small, should offer employee benefits beyond the salary. Good employee benefits are crucial if you want to attract and retain talented and passionate staff. They’ll also help increase morale and productivity, while improving relationships between staff…
It’s common for people to work multiple jobs. You could have a full-time job and a second job, perhaps working evenings or weekends. Or you could work multiple part-time jobs. Many also do some self-employed work alongside a second job….