What if you can’t pay your Self Assessment tax bill?
12 Oct 2022
In an ideal world, you put away enough to cover the tax for each pound of income that you earn. Then, when it comes time to pay your tax bill, you’re not filled with panic, you…
Category: Income Tax
Keep up to date with the latest in UK income tax news that may affect your personal allowance. Find out what income tax is and how GoSimpleTax can help.
Introducing our brand new podcast… So, why should you listen?
06 Oct 2022
It’s something we’ve been busy working away on for many months now. Something we’re very excited about and rather proud of. But – most importantly of all – it’s something else that we’ve created to help…
Should you switch from limited company to sole trader?
16 Aug 2022
When people in the UK start a business or “go self-employed”, overwhelmingly they choose to become a sole trader, which is the most popular legal structure for a business. Out of the UK’s 5.5m small-business population,…
Paying tax and claiming reliefs when on professional secondment to the UK
10 Aug 2022
Have you been working in the UK, but live elsewhere? For example, are you from India and have you been working on an IT project over here? Then, the chances are you’ve overpaid tax and by…
5 key things you should know about paying tax on dividends
31 May 2022
If you own shares in a profit-making company, you may receive regular or occasional dividend payments. And if you run your own small limited company, most of your income might come from regular dividend payments. Whatever…
Income Tax bands (England and NI)
17 May 2022
The amount of Income Tax you pay in each tax year when you’re self-employed (ie a sole trader) is determined by how much income you earn above the Personal Allowance threshold and how much of your…
Non-resident landlords and paying UK tax on rental income
04 May 2022
Some five and a half million British people live permanently outside the UK. About a third of them call Australia or New Zealand home, while more than a quarter live in the US or Canada, with…
Paying Income Tax on freelance work as a second job
02 Dec 2021
UK freelancer numbers have grown massively in the past 20 years. Although there were 1.2m freelancers in 2000, now there are an estimated 2.2m. And while 1.9m are full-time freelancers, some 239,000 freelance part time as…
15 Things you need to know about Making Tax Digital and Income Tax
13 Oct 2021
Making Tax Digital (MTD) is a major government initiative that aims to make it easier for people and businesses to “get their tax right” and “stay on top of their tax affairs”. It will bring about…
Selling Online: A Guide To Paying Income Tax
22 Jul 2020
If you use sites such as eBay and Depop to sell personal items for profit, you may be walking an Income Tax tightrope. There’s a grey area in paying tax as an online seller, and that…
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Sign up Now7 sources of income you need to report via a Self Assessment tax return
06 Dec 2022
If you need to file a Self Assessment tax return, you should make sure that you report all sources of taxable income, otherwise there…
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UK landlord? Complete your Self Assessment tax return in 6 simple steps
06 Dec 2022
You probably hate having to do your tax return each year. Let’s be honest – it’s a faff – and you’d rather be doing…
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Boom! 6 common MTD for ITSA myths exploded
14 Nov 2022
By now you may (or may not) have heard about Making Tax Digital (MTD), the comprehensive digitisation process that’s transforming the UK tax system.…
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