Self Employed
At Tax Advantage we understand how important your time is and that you do not want to waste it in trying to deal with Accounts and the Tax Man.
Tax Advantage Fees:
All fees are fixed, we will assess your requirements and provide a quote to you, you will also have the option of paying *monthly direct debit. For your convience everything can be completed electronically making the process fast and cost effective.
*fee to bring your books and tax affairs up to date is payable in full, fees for accounts and tax services going forward can be paid by Direct Debit.
Contact us now to find out more.
Definition of being Employed or Self Employed Whether you're employed or self-employed depends on the terms and conditions of your work. It's important to know your employment status because it affects employment and benefit rights, and how you pay tax and National Insurance. Employment status: basic checks to help you decide You can usually work out your employment status by asking a few straightforward questions. You are probably self-employed if you: You have the full control of how your business is run. It is your own money in the business You are responsible for any losses/profits of your business Your…
Definition of being Employed or Self Employed Whether you're employed or self-employed depends on the terms and conditions of your work. It's important to know your employment status because it affects employment and benefit rights, and how you pay tax and National Insurance. Employment status: basic checks to help you decide You can usually work out your employment status by asking a few straightforward questions. You are probably self-employed if you: You have the full control of how your business is run. It is your own money in the business You are responsible for any losses/profits of your business Your…
How to Register as Self Employed If you are looking to take the plunge and set up your own business then the easiest and fastest way to do this is to start up as a self employed sole trader. There is little paper work required for the initial set up and there are no fees for registering yourself as self employed. There various legal requirements and responsibilities that you will have, like paying your own tax, national insurance and any insurance associated with your business. Once you have taken the first step of self employment you need to register with…
Self Employed Expenses Not all business expenses are tax deductible, so it's important to make sure you claim all that you can. In general, if something you buy for your business is not a capital asset, you deduct its full cost when working out your taxable profits allowing you to you get immediate tax relief for the full amount. The expenses that you can claim include: Salaries and benefits Employees' wages and redundancy payments; Employers' national insurance deductions; Insurance and pension benefits for employees; Any employee childcare provisions you make; The cost of training employees Dedicated business premises Heating; Lighting;…
Self Employed Tax Rates & Allowances Tax and National Insurance payments made to HM Revenue & Customs (HMRC) is different for a self-employed person to that of somebody working under pay as you earn (PAYE). The actual rates of tax, allowances and rates of National Insurance for 2011/12 are detailed on the following page along with comparison tables from 2010/11. If you would like Tax Advantage to help with your taxes please use the contact form and we will provide you with a no obligation quote. As a self-employed person the tax and National Insurance you will have to pay…
With the deadline for submission of 2011 Tax Returns soon approaching, we thought it would be helpful to advise of the potential issues you may come up against if you do not submit your Return on time
Since April of this year, all VAT-registered contractor businesses with a turnover of £100,000, along with all new registrants of the tax, have been required to file VAT returns and make VAT payments online.