Tag Tax

Key Tax Changes in the 2024 Budget

The 2024 Budget presented by Chancellor Jeremy Hunt brings a mix of tax relief, reforms, and policy shifts across income tax, National Insurance, VAT, ISAs, property taxation, capital gains tax, and the treatment of non-domiciled individuals.

How to Submit A VAT Return When You’re Self-Employed

Learn How To Submit Your VAT Return As A Self-Employed Person or Sole Trader. Understand VAT Deadlines And How To Pay VAT Liabilities And Claim VAT Refunds.

Can I Claim VAT Back If I Am Not VAT Registered

Understand VAT Claims For Non-VAT Registered Individuals & Sole Traders. Learn About VAT Claim Eligibility, Procedures & When To Seek Professional Help.

How Long Does A Tax Return Take?

Make Tax Season Stress-Free As A Sole Trader With Our Guide To HMRC Processing Times And How Long Tax Returns and Tax Refunds Take.

How Can I Check if My Tax Return Has Been Processed by HMRC? (UK Guide)

Learn how to keep track of the status of your tax return once you have submitted it to HMRC. And how to deal with post-submission queries.

Self-Employed Bookkeeping: The Ultimate Guide

In this this ultimate guide to self-employed bookkeeping you'll learn about managing transactions, optimising deductions, and establishing a solid financial foundation for your business.

How Do I Prepare My Self-Employed Accounts?

Preparing your accounts can seem like a challenging task. Learn how to get your accounts in order with this straightforward Crunch guide to self-employed accounting.

What is a Partnership Tax Return? Form SA800 Explained

UK Partnership Tax Returns Explained: A Comprehensive Guide to Filing, Deadlines and Partnership Tax Return Information For Business Partnership Success.

Example of a Tax Return for a Landlord: All The Information Landlords Need to Include in a Self Assessment Tax Return

Understand How To Declare Your Income to HMRC As A Landlord. Read Our Example Of a Tax Return For A Landlord And Self-Assessment Guidance To Calculate UK Taxes.

Streamlining Partnership Taxes: The Essential Guide to the SA800 Tax Return

Learn all about the essentials of the SA800 Partnership Tax Return in our comprehensive guide, ensuring accurate filings and compliance with UK tax regulations for partnerships.

Example of a Sole Trader Tax Return

Getting ready to file your first sole trader tax return? Get a look at the Self Assessment form and discover the information you need to file an accurate return.

Tax Implications And Guidelines For eBay Sellers

eBay is the perfect way to move on your old stuff, and still make a little money back. But at what point do your eBay earnings become of interest to HMRC?

Understanding Tax Rules for Non-residents in the UK

Understand Tax Rules For Non-Residents In The UK. Read Our Guide To Understand Your Residence Status, Calculate UK Taxes and Comply With HMRC Tax Regulations.

What Is A P800 And How Does HMRC Calculate It?

HMRC makes P800 tax calculations when they believe there’s been a discrepancy between what tax you’ve paid and what you owe. But are they always accurate?

Understanding the 500T Tax Code: A Clear Guide for UK Taxpayers

Explore the 500T tax code in the UK: its application in employment and complex tax situations, implications, and tips for effective communication with HMRC.

A Hidden Gem in Your Paycheck: The 1263L Tax Code

Explore the 1263L tax code: a guide to unlocking extra cash in your paycheck. Learn its impact, eligibility, and what changes mean for you.

How To Amend Your Self Assessment Tax Return

Made an error or missed something off your Self Assessment? Discover how to amend your tax return and guarantee you’re filing the most accurate return possible.

Understanding The SA105 Form For Property Income

The SA105 Form is a vital document for those earning an income from property owned and leased in the UK. Find out how to complete the document, how to file it with HMRC, and when to submit it.

How to Tell HMRC You No Longer Need to Complete a Tax Return

Learn The 6 Simple Steps To Inform HMRC That You No Longer Need To Submit Your Self Assessment Tax Return

What Is Tax Relief & How to Claim It

Discover the ins and outs of tax relief in the UK with our comprehensive guide. Learn about different types of tax relief, eligibility, claiming processes, and real-life examples to help you maximise your benefits.

Investor's Guide to EIS Tax Relief

Discover the potential of EIS Tax Relief with this Crunch guide. Learn about eligibility, benefits, and claiming processes to maximise your investments. Read now.

The Tax Implications of Selling a Business

Discover the ins and outs of selling a business and the important implications for your tax responsibilities.

How to Claim a CIS Tax Refund

Learn everything you need to know about claiming a CIS tax refund with this clear and simple guide.

Is there a P45 for the self-employed?

Do self-employed people need a P45? The answer is a bit more complex than a straight yes or no. Find out why in this article.

What is Film Tax Relief and How Do You Claim It?

An explanatory guide on creative industry tax-relief for films and other types of moving-picture based media production.

How to Contact HMRC for Self Assessment

Need help with HMRC Self Assessment? Use this guide to contact HMRC to get tips on preparing for your call, finding help when lines are busy and alternatives for tax assistance.

What is An SA107 Form and How Do I Use It? | A Comprehensive Guide

Explore our comprehensive guide on the SA107 form to accurately report income from trusts, settlements, and estates, ensuring full compliance with HMRC regulations.

Decoding the D0 Tax Code: How HMRC’S ‘Premium Rate’ Impacts Your Finances

Assess the D0 tax code's impact on your finances, including its application, comparison with BR code, and tips for accurate tax management.

Guide to UK Capital Gains Tax and SA108 Form

Master the SA108 form with this Crunch guide. We’ll cover eligibility, filing, CGT calculations and expert minimisation strategies for confident tax management.

5 Very Good Reasons to Use an Accountant for Your Self Assessment Tax Return

Discover the top 5 reasons to use an accountant for your Self Assessment tax return, ensuring compliance, efficiency, and peace of mind for small business owners.

What is an M1 Tax Code? Cracking the Enigma of the UK's Emergency Tax Puzzle!

Crack the M1 tax code in this insightful guide. Understand its impact, how it's calculated, and tips for ensuring correct tax payments in the UK.

HMRC Online Services: Guide to Managing Your Taxes

Unlock the full potential of HMRC's online services with this Crunch guide. Learn how to get started with tax management or use advanced features.

Understanding HMRC Nudge Letters: No Need to Panic

Learn how to respond to HMRC nudge letters calmly and effectively, with expert advice on the benefits of accountant guidance.

SA104 Form: Mastering the Partnership Tax Tango!

A straightforward guide on SA104 Forms to help you dance through partnership tax with ease. Master the art of tax compliance and avoid penalties!

How To Complete A Sole Trader Self Assessment

Getting ready to submit your first Self Assessment for sole traders? We’ve compiled a comprehensive guide to walk you through the process, from registration to submission.

Maximising Your Melody: Essential Guide to Tax Refunds and Savings for Musicians

Feel the power-ballard of key tax savings and refunds for UK musicians! Learn about eligibility, deductions, and how to efficiently manage your music-related taxes.

How To Organise And Maintain Your Tax Receipts

Organising and maintaining your business receipts for tax submissions is a critical aspect of self-employment. Find out how to stay on top of your bookkeeping with these simple tips.

What is the OT Tax Code? HMRC’s Tax Alarm Explained

Unravel the mysteries of the 0T tax code: Understand its implications, compare with BR code, and learn how to smoothly transition to the correct code.

What if I Can’t Pay My Self Assessment Bill?

Struggling with self-assessment tax payments? Discover your options and learn how to manage your tax bill with payment plans and alternative arrangements. Get support today.

Revving Up London's Black Cab Drivers for the Uber Shift

Find out how CrunchONE simplifies accounting for London's black cab drivers joining Uber in 2024, with flexible, easy financial management and expert support.

What is the SA100 Tax Form? An Essential Guide for Self-Assessment

Description: What is the SA100 form, and why is it important? Find out how to navigate and complete this important tax document with Crunch’s handy guide.

How To Pay National Insurance When You’re Self-Employed

Salaried workers have their National Insurance contributions deducted from their monthly pay – but how do the self-employed pay National Insurance?

Understanding the SA303 Form: A Comprehensive Guide for Small Business Owners

Our complete guide on the SA303 form to manage your tax payments efficiently and avoid overpaying. Get expert insights for financial control.

Tax Code 1257L - What Does It Mean?

Uncover the essentials of tax code 1257L in the UK, including its influence on personal allowances and importance for financial management.

What the Autumn Budget 2023 Means For UK Small Businesses

The Autumn Budget 2023's impact on UK SMEs: key tax cuts, investment boosts, and legislative changes crucial for small business growth and sustainability.

How to Set Up Your Personal Tax Account With HMRC

Learn the Steps to Set Up Your Personal Tax Account, Manage Income and Stay Compliant as a Freelancer in the UK

Navigating the Minefield: A Comprehensive Guide to Identifying and Dealing with HMRC Scam Letters

A detailed guide on identifying and avoiding HMRC scam letters. Learn to spot fake tax rebates and bank detail changes, and safeguard your finances.

What is an SA302? A Guide to Self-Employed Income Verification

Explore the essentials of SA302 forms for self-employed individuals, their role in mortgage applications, and alternatives for financial verification in this detailed guide.

Small Companies Now Required to File P&L Figures: What You Need to Know

Understand new UK legislation requiring small businesses to file Profit and Loss accounts. Learn what it means for you and how to stay compliant.

Taxing Times Ahead: How to Navigate HMRC's Crackdown on Side Hustles

Navigate HMRC's 2024 crackdown on side hustles with our expert guide. Learn the new rules and stay tax-compliant without missing out on your earnings.

Second job tax: How to pay tax on a second job

If you're finding yourself a little stretched for cash, you might consider a second job. While it’s not illegal, there can be issues to consider.|If you're finding yourself a little stretched for cash, you might consider a second job. While it’s not illegal, there can be issues to consider.

How To Register For VAT: A Step-by-Step Guide

Discover the ins and outs of VAT registration with our comprehensive guide. Explore benefits, understand the process, and confidently navigate your VAT journey from preparation to post-registration tasks.

How to Pay Your Self Assessment Tax Bill

Looking for fast ways to pay your Self Assessment tax bill? Read this Crunch guide to the most convenient payment options to help you avoid late fees today.

What is Self Assessment? How to complete your Self Assessment

New to contracting or freelancing? Struggling with filing your first Self Assessment? Our quick guide goes over the basics of what you should do.

How much is Corporation Tax for a limited company?

This article will give you the rundown on limited company Corporation Tax, so you’re prepared financially and mentally to carry out your responsibilities.

How long should you keep tax records?

We’ve provided all you need to know on tax records and other important record types so you’re never left panicked because you threw out that all-important tax record too early.

How Is National Insurance Calculated?

A full explanation on the different classes of National Insurance and how contributions are paid. With a breakdown of how NI works for employees, employers and self-employed individuals.

How famous tax dodgers came unstuck

Welcome to the tax rogues Hall of Shame! featuring Alan Partridge, Vince Cable, Kerry Katona, Bernard Black and Wesley Snipes.

How do I work out my tax?

Learn how to work out your tax in the UK with this guide from Crunch. Let’s talk income tax, National Insurance, tax codes, and more, so you can take control over your income.

HMRC's scary new powers: can they really raid your bank account?

In the 2014 Budget, the government revealed they were handing new powers to HMRC to recover debts. We look at the legislation and what this means.

HMRC & Companies House late filing & payment penalties for 2023/24

How to stay on top of the deadlines for your tax filings as a freelancer, contractor or small business in the UK.

Guide to Capital Allowances for UK Businesses

Discover the ins and outs of capital allowances in the UK, including types, eligibility, and claims processes. Learn how to maximise your claims with this guide by Crunch.

Get ready for end of tax year (5th April 2023) & new tax year

We’re fast approaching the end of the tax year on 5th April 2023. Let's take a look at what you’ll need to know.

Best freelance job sites - 12 that actually pay well

Finding work as a freelancer can be tricky. But there's good work on offer if you know where to look - here are a few of our favourite freelance job sites.

Limited Cost Trader Test - how it affects Flat Rate VAT

We take a closer look at how the new Flat Rate VAT scheme and the Limited Cost Trader test will affect you if you’re a VAT registered small business.

Explaining The VAT Threshold

The VAT threshold is a daunting topic, but one that all business owners should understand. Here’s a straightforward breakdown from Crunch.

The £5,000 UK Employment Allowance explained

Can your business claim the £4,000 Employment Allowance towards your NI Bill? Get all the details on eligibility, how much you can claim, and how to claim.

Dropshipping business ideas

Find high-potential dropshipping business ideas. From eco-friendly products to smart home tech, learn how to choose niches that resonate with UK market trends.

Do I have to complete a Self Assessment tax return?

A Self Assessment tax return is one of the most significant tax documents you’ll be dealing with when you’re self-employed. Here's what you need to know.

What is a director’s loan account, and what are the tax implications?

This article will cover exactly what a director’s loan is, the HMRC rules, and your tax obligations. So you'll avoid any problems or unexpected tax bills.

Crunch UK DeFi Tax Guide

We’ve teamed up with crypto tax calculator Koinly to give you the rundown on all things DeFi tax.

Corporation Tax Increase (April 2023): Impact on Small Businesses

With the corporation tax increase in April 2023, small businesses need to get ready. This article explores the changes and implications so you can prepare for the new tax landscape.

Everything you need to know about contracting abroad

Thinking about contracting in Europe or further afield? Learn all about your tax liabilities and how to maximise your take home pay working abroad.

Class 4 NICs Explained

Class 4 NICs are an important tax element for self-employed people to know about. Read this guide to learn how they work, who they apply to and how to repay.

Class 2 NICs for Self-Employed Individuals

Self-employed? Read our in-depth guide on Class 2 National Insurance Contributions to learn about eligibility, payment methods, contributions and more.

Claiming the Uniform Tax Rebate - How Much Can You Save?

A guide on how to claim a tax rebate for uniforms you need to wear for work. That explains the entitlements for different types of workers.

Capital Allowances, Annual Investment Allowance, and the Super-Deduction

Businesses can buy items of “plant and machinery” and offset some of that expenditure against their profits. Ltd companies can also claim a super-deduction.

Can IR35 contractors still work through a limited company?

The government’s reform of IR35 rules is forcing many contractors operating personal service companies to review their options.

Cake or biscuit: VAT's the difference

Is a Jaffa Cake a cake, or a biscuit? It took a case in court to come up with a full answer. Find out the answer here.

Business mileage rates – who can claim and how much does HMRC allow? Free business mileage claim form.

When you are self-employed, or director of your own Limited Company, it can be baffling to know how to claim back business mileage.

Accountancy Healthchecks - why it's a good idea to get checked out

If you’re hoping to start the new tax year afresh, a full check-up like this will give you some sound knowledge of your business and what you could be achieving, leaving you confident and assured about the future.

How To Claim Working-From-Home Tax Relief

Discover how to claim UK working-from-home tax relief, covering eligibility, claim methods, and potential savings for employees and the self-employed.

UK Dividend Tax Explained: Step-By-Step Guide

Dividends are payments made to company shareholders from company profits after corporation tax. If you run a ltd company they can be really tax-efficient.

What is VAT reverse charge in the construction sector?

If you’re in the Construction Industry Scheme (CIS) and VAT registered, HMRC are changing how you account for VAT from 1st October 2019.

What Is the 40% Tax Bracket?

If you’re in the 40% tax bracket, or approaching a higher salary band, it’s wise to understand the tax related implications and how they could affect your income. Find out all about it in this in-depth article.

What is MTD and does it affect me?

Making Tax Digital (MTD) is the government’s plan to shift tax online. The initial changes will only really affect you if your business is VAT registered.

What is a Seed enterprise Investment Scheme (SEIS)?

SEIS is one of the most helpful and generous funding initiatives for new UK companies. Find out what it is and how it works with our comprehensive article.

P60 Form - What is a P60, do I need one and where do I get one?

Your P60 is a summary of your pay and all deductions in a specific tax year (6th April to 5th April the following year). Here's what it includes.

What is a Personal Service Company (PSC)?

Usually refers to a limited company, set up to provide the services of a contractor. Find out how you can set one up, and why you might want to.

What is a government gateway ID and where to find it

We’ve delved into the ins and outs of a government gateway ID so you have all the information covered if you ever need to set one up or what to do in the event that you lose it.

What are the best portfolio sites for freelance writers?

You've spent weeks on a piece of work and you justifiably want to show it off to prospective clients - what's the best way?

What are the benefits of a sophisticated online accounting system?

Why use online accounting software when you can download an Excel spreadsheet for free? Well, the reasons are numerous.

What Are Flat Rate Expenses?

Looking to save money on taxes and get the most out of your deductions? Read the Crunch guide on flat rate expenses in the UK to discover everything you need to know.

Webinar: Taxes for Hermes Sole Traders | Crunch

VAT Guide for the Self-Employed (2023): Registration & Tips

Dive into our comprehensive guide on VAT for self-employed individuals. Uncover key insights to learn all about registration, benefits, and expert tips for 2023 and beyond.

VAT - what is disaggregation (artificial separation) of a business?

Disaggregation is when business owners try to avoid charging VAT by splitting a business to ensure each operates under the VAT registration threshold.

What is a trivial benefit - how do they affect limited company directors?

Receiving a gift from your employer is a great feeling, but in the workplace the employer needs to be aware of whether or not they need to pay tax on the present. Here are some helpful examples for small businesses.

What is Output and Input VAT? VAT Returns made easy

So, you're a small business owner who is VAT registered. Therefore, you have to add VAT onto your invoices or the goods you sell.

How to Claim Tax-relief on Charitable Donations for Individuals and Ltd Companies

A full guide on the process of claiming tax-relief on charitable donations for individuals, sole-traders and Ltd companies.

UK Tax rates, tax thresholds, tax bands, and tax allowances for the 2022/23 and 2023/24 tax years

There are many different tax rates in the UK affecting both individuals and businesses - we've pulled them all together so you can keep on top of them.