Entrepreneur’s Relief, officially known as Business Asset Disposal Relief (BADR), is a valuable tax benefit in the UK that reduces the Capital Gains Tax (CGT) payable when you sell all or part of your business. Many business owners, especially directors and shareholders of limited companies, rely on this relief to minimise the tax bill when […]
What is Entrepreneur’s Relief? (Business Asset Disposal Relief) Read More »
Running a limited company in the UK comes with legal obligations, and one of the most important is filing your CT600 Corporation Tax Return. But what is CT600, and why is it essential for your business? In this comprehensive 2025 guide, we’ll break down the CT600 form, explain how to file it correctly, and highlight
What is CT600: How to File Corporation Tax? Read More »
Can HMRC access your bank account and take money directly from it? This question worries many taxpayers across the UK—and rightly so. The answer is yes, but HMRC must follow strict rules and regulations before exercising this power. In this article we’ll breakdown HMRC bank account access powers in detail. Since 2015, HMRC has had
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The SA100 tax form is the main Self Assessment Income Tax Return required by HMRC for individuals to declare taxable income for a given UK tax year (6 April–5 April). It captures all income types—employment, self-employment, investments, pensions—along with tax reliefs, benefits, and overpayments. Summary “This paragraph explains the overall purpose of the SA100 form and what
What Is the SA100 Tax Form? Essential Self Employed Guide Read More »
If you’ve just started a new job and noticed “M1” on your payslip, you’re likely wondering what this mysterious M1 tax code means. Don’t worry—you’re not alone. The M1 tax code is a common emergency tax designation used by HM Revenue & Customs (HMRC) in specific scenarios, particularly when there’s a lack of complete tax
What is M1 Tax Code? Let’s Decode the UK’s Tax Puzzle Read More »
A Government Gateway ID is a unique 12-digit identifier provided by HMRC (Her Majesty’s Revenue and Customs) that enables secure access to a range of UK government digital services. Whether you’re filing your Self Assessment, checking your tax account, or submitting a VAT return, your Government Gateway ID is your key to unlocking these services.
What is Government Gateway ID? Where to Find It? Read More »
Breaking free from the 9-to-5 grind and becoming your own boss sounds exciting, but before diving into self-employment in the UK, there’s one crucial step to take: registering as self-employed with HMRC. Understanding how to register as self employed ensures you remain compliant, avoid penalties, and take full control of your finances. Summary “Understanding registration
How to Register as Self Employed: A Complete Guide for 2025 Read More »
Since the full rollout of Making Tax Digital (MTD) for VAT in April 2022, all VAT-registered businesses in the UK are legally required to maintain digital records and file VAT returns using compatible software. However, when it comes to the payment itself, businesses still have a choice in how they pay VAT online. Paying online
How to Pay VAT Online to HMRC? Step-by-Step Procedure Read More »
Understanding National Insurance Contributions (NICs) is essential for every self-employed individual in the UK. While Class 2 NICs are often discussed, Class 4 NICs is equally important and sometimes more significant in terms of cost. In this guide, we’ll take a comprehensive look at Class 4 NICs, including who needs to pay it, how it’s
Class 4 NICs: Explained Everything About It Read More »
The SA302 is HMRC’s official calculation of an individual’s taxable income used to verify earnings for mortgages and loans. Self-employed people, company directors, and high earners in the UK use the SA302 to prove income to lenders. Lenders commonly request SA302 pages covering the last one to three tax years (for example, 2022–23 through 2024–25).
What is SA302? How to Get One in 2025 Read More »
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