Do I Have to File a Tax Return?
What Is a Self-Assessment Tax Return? When you earn money through employment, your employer will submit PAYE tax to HMRC. PAYE (pay-as-you-earn) is a system whereby employers take your income tax and National Insurance contributions directly out of every paycheck. In...
Voluntary Disclosure to HMRC: Is It Necessary?
What Does Voluntary Disclosure Mean? Voluntary disclosure is simply the act of letting government services like HMRC know about a mistake or non-compliant activity without being prompted. This is all about open and honest business practice that aims to put matters...
How Does Online Accounting Work?
Online accountants have grown in popularity over the past few years as more and more businesses start to adapt to the digital era and integrate web-based solutions into their current processes. If you aren’t familiar with the practice, you might find yourself...
UK Tax Investigations: Everything You Need to Know
The idea of UK tax investigations is likely to fill even the most cautious and financially responsible business owner with a sense of dread. The fact that HMRC could end up combing through all your facts and figures leaves you questioning every tax return you’ve ever...
Tax & Self Employed: Dummies Guide to Self-Employed Tax
Nearly 5 million self-employed individuals are working across the UK. That’s around 17% of the entire British working population. It’s a huge number, and one set to keep rising. According to SmalBusiness.co.uk, over 2.5 million Brits dream of starting their own small...
How to Go Self-Employed: Essential Guide from Finance Experts
Self-employment is on the rise, and it has been for quite some time. Figures show that since 2001, we’ve seen more than a million new self-employed workers move over from traditional forms of employment. That puts the current UK’s working population at over 15%...
Tax Rates 2019/2020: Easy Guide for Business Owners
Looking for information on business tax rates for the 2019/2029 financial year? Finding other resources confusing and overcomplicated? RS Accountancy explains matters in simple terms. If you operate a small business, you will have to pay tax. How much tax you owe...
How Much Can You Earn Tax-Free While Self-Employed?
Taxation is a complicated process. There are many rules and regulations that apply, each with their selection of caveats, loopholes and ambiguities. Trying to understand all facets of tax is a job appropriate only for a financial expert. But that doesn’t mean you...
