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...
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...
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...
UK Tax Strategies for 2019: Can You Really Save Money?
As we move into the new year, and towards the end of a financial one, you might be thinking of ways you can save on your tax bills. But are there any legitimate tax strategies that actually work to save cash? It doesn’t matter if you are a private individual or a...
What Does an Accountant Do? Processes and Practices
Not sure what exactly an accountant does? We take a comprehensive look at what the job really involves. Ever asked yourself: what does an accountant do? You aren’t alone — it’s a question that’s been asked plenty of times! There is a bit of stigma and misunderstanding...
