SA302 Tax Calculations: What They Are and When You Need One If you’re self-employed and applying for a mortgage or loan, the lenders will often ask for SA302 tax calculations. But what exactly is it, and how do you get one? Here’s everything you need to know. What are SA302 Tax Calculations? SA302 calculations are produced […]
Category Archives: Self Assessment Tax
03
Oct
Oct
Tax Year Overviews: What They Are and Why You Might Need One If you’re applying for a mortgage, loan, or other type of finance, the lender will often ask for proof of your income. Many self-employed people assume their tax return is enough — but lenders usually want a Tax Year Overview (TYO) as well. […]
24
Sep
Sep
Making Tax Digital is coming – get ready now From April 2026, Making Tax Digital (MTD) for Income Tax will transform how self-employed individuals and landlords manage their tax. In fact, it’s the biggest change to Income Tax since HMRC launched Self Assessment more than 30 years ago. Who’s affected: Firstly from April 2026: Sole […]
11
Aug
Aug
Self Assessment Expenses Explained If you’re unsure what you can and can’t claim on your tax return, this guide to Self Assessment expenses explained will help. Understanding which costs are allowable could reduce your tax bill significantly. What Are Self Assessment Expenses? HMRC allows certain business-related costs to be deducted from your income before calculating […]
18
Jul
Jul
If you’re filing a tax return, avoid these top 5 Self Assessment mistakes to save money and stay compliant. Top 5 Self Assessment Mistakes 1. Missing the Deadline Self Assessment deadlines are: 31 January – for filing online returns and paying any tax owed 31 July – for the second payment on account (if applicable) […]
11
Jul
Jul
If you’re unsure what counts as income for Self Assessment, this guide will help you understand what you need to report to HMRC. Here’s what you should include in your tax return to stay compliant and avoid penalties. What Counts as Income for Self Assessment 1. What Counts as Self-Employment Income This includes money earned […]
04
Jul
Jul
With Making Tax Digital for Income Tax coming in April 2026, to choose the right MTD accountant is more important now than ever. Here’s how to find someone who will make the MTD journey smooth and stress-free. How to choose the right MTD Accountant Look for and MTD Accountant with Experience Not all accountants are […]
If you’re self-employed or a landlord with income over £50,000, you’ll need to follow Making Tax Digital for Income Tax (MTD for ITSA) from April 2026. Here’s a simple, step-by-step guide to signing up for MTD for ITSA to help you. Signing up for MTD for ITSA Step 1: Check If You’re Eligible You can […]
If you’re a sole trader earning over £50,000, you’ll need to follow Making Tax Digital for Income Tax (MTD for ITSA) from April 2026. This post explains how MTD Affects Self-Employed Sole Traders – what’s changing, what you’ll need to do, and how to get ready. How MTD Affects Self-Employed Sole Traders What Is MTD […]
If you’re self-employed or a landlord, Making Tax Digital for Income Tax (MTD for ITSA) will change how and when you report your income. Here’s a simple breakdown of the MTD for ITSA key dates and deadlines so you don’t get caught out. MTD for ITSA Key Dates and Deadlines Current Timeline for MTD for ITSA […]