Category: Tax Returns

Motor expense guide for the self-employed

What are allowable expenses? If you’re travelling exclusively for business purposes, you can claim your motor expenses as “allowable expenses”. Although it doesn’t include if: You travel between just your home and your permanent workplace Private travel How do you calculate your motor expenses? If you don’t have receipts for all your travel, then you…

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Find A Lost National Insurance Number

If you live in the UK, you should automatically get a National Insurance (NI) number just before your 16th birthday. HM Revenue & Customs no longer issues plastic NI cards. If you have lost or forgotten your NI number, you can find it on your payslip, P60, or any letters sent to you by HMRC…

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Thinking Of Forming A Limited Company?

Here, we highlight 10 of the biggest benefits a limited company gives you over working as self-employed; Starting up as a sole trader is without doubt the simplest way to start a business in the UK. All you need to do is inform HMRC that you are working as ‘self employed’, and account for your business…

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What is CIS tax?

At this time of year, you may overhear other workers on a construction site talking about doing their tax return. This is because they are taxed under a scheme called CIS. But what is CIS tax? And should you be paying it? CIS = Construction Industry Scheme The Construction Industry Scheme (CIS) is a tax…

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How far back can you claim tax refunds?

It’s a great feeling when you get a letter telling you that you’re due a tax rebate. Even though it’s your money that you should have had in the first place, it’s often an unexpected surprise. What a lot of people in the construction industry don’t realise is that they are almost certainly due a…

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When is the self-assessment deadline?

All tradesmen who subcontract on a construction site of any kind will most likely be registered on the Construction Industry Scheme (CIS). This scheme allows the government to take tax from your monthly wages from your main contractor. Unlike most self-employed people you will be paying tax as you go but you will still be…

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