Registering Late For Self-Employment has Tax Implications Starting a brand new business requires massive personal energy and dedication. Consequently, many enthusiastic entrepreneurs focus entirely on websites, branding, and opening corporate bank accounts. However,...
Self-employment registration represents the vital first step for anyone launching a new UK business venture. Launching a company involves many moving parts like building websites and opening bank accounts. Typically, these exciting tasks take priority over boring...
Paying sufficient National Insurance for a full state pension remains vital for your future financial security. Moreover, the UK state pension depends entirely on your personal qualifying years. Most people require thirty-five years to claim the maximum single-tier...
Side Hustle Tax Rules apply to anyone making money through online platforms. Many people think selling on Vinted or Etsy is just a fun pastime. However, HMRC might see your activity as a formal business. You must understand where you stand to avoid unexpected tax...
All things being equal, a pay rise is a victory, but there is a £100000 Tax Trap. It signifies success. It usually means more money in the bank. However, in the UK tax system, all things are not equal. Recent press reports highlight a strange trend. Many professionals...
Cash Based Accounting, have you heard of it? Tax rules change. They evolve. Sometimes, they even simplify our lives. In our previous blog post on cryptocurrencies, we explored how complicated HMRC regulations can get. We looked at the digital frontier and the tax...
The Changing Face of Tax Returns Change is coming. The tax world is shifting. You might feel worried. That is normal. Making Tax Digital for Income Tax Self Assessment is the new reality. We call it MTD for ITSA. It becomes mandatory soon. Mark the date: 6 April 2026....
A simple guide to the Autumn Budget November 2025. Understand tax rises, frozen thresholds, ISA changes, dividend increases, and future rules. Clear advice and a call to book a Tax Diagnostic with I Hate Numbers. The Autumn Budget November 2025 delivered a long list...
How to Register for UK Self Assessment Why bother with registration? Should you Register for UK Self Assessment, most people instantly think tax hassle. But for the self-employed, side-hustlers, or directors, knowing how to register for Self Assessment UK is one of...
Have you had Class 2 National Insurance Charged in Error? Mistakes with National Insurance create stress and extra cost. Recent Class 2 changes caused confusion and wrong charges. This blog explains what changed and what to do next. You will also see practical tips to...
Are you a sole trader, landlord, or both? Do you earn from property or self-employment? If yes, Making Tax Digital for Income Tax (MTD for ITSA) could soon apply to you. The rules are changing. Deadlines are coming. Preparation now will save stress later. This guide...
You can Claim tax relief for work expenses online in 2025 If you spend money doing your job, don’t miss out on tax relief. You may be entitled to claim tax relief on work expenses, even if you have paid them yourself. If your employer hasn’t reimbursed you, then a...
What are the benefits of filing your tax return early. Why could this be one of the best financial decisions you make this year. While the Self Assessment deadline for the 2024/25 tax year isn’t until 31 January 2026, early submission has real advantages. Let’s break...
MTD and Incorporation , not something you normally see in the same sentence. From April 2026, self-employed individuals and landlords earning more than £20,000 annually will need to comply. If that’s you, get ready for big changes in how you report your income. But...
Starting a business as a sole trader means lots of decisions to make and stuff to do. One of the first questions is whether to run the business as a sole trader to set up a partnership with others or whether to form a company How you operate your business determines...
If you're a parent in the UK, you might be familiar with Child Benefit. It’s a helpful allowance provided to those responsible for raising a child. However, something called the High Income Child Benefit Charge (HICBC) goes hand in hand with it. Financial aid but...
Are you part of the digital gig economy? Do you work on Upwork or Fiverr? Maybe you host on AirBnB. Major tax policy changes are underway in this segment. And I’m here to let you know exactly what so that you are prepared. Watch this video about the upcoming tax...
Five mistakes to avoid on your UK tax return is this weeks short video. Are you dreading your UK tax return for 21-22, and want to avoid making mistakes and facing penalties? Have no fear, I Hate Numbers is here to guide you through the process, and help you avoid...
Many small businesses in the UK are Using the cash basis for tax. This is a simple and straightforward way of accounting for your business income and expenses. In this video I'll explain how to use the cash basis for tax and highlight some of the benefits it offers. ...
Completing your self employed tax return 21-22 can seem daunting, but it doesn't have to be. This video, part 2 of 2, follows on from last week. The process is broken down, so you can ensure that you're getting the most out of your tax return. Whether you're a first...
How to prepare your tax return 21-22 may not get the pulse racing. For some it may cause anxiety, apoplexy and poking eyes with sticks may come to mind. However, if you are one of the 10.2 million + people that must complete a self-assessment tax return it’s a...
Preparing your tax return is a must for millions of taxpayers. Moreover, do you know why? In this video I'm going to Firstly show you who needs to complete a personal tax return Secondly, the key information that you need to include, Thirdly, some costs you can claim...
Are you a carer and want to know How to claim Carers Allowance? What is Carer’s allowance? This is money given to people who look after someone with substantial caring needs. It’s not means-tested, so it doesn’t matter how much you earn or own. ...
Understanding the differences between tax avoidance and tax evasion, is an essential piece of knowledge for all taxpayers, whether you are an individual or whether you are a business. Tax avoidance and evasion is typical and headline news. Jimmy Carr, Gary Barlow, Ken...