Self Assessment - 6 most common errors you need to avoid

Your self assessment tax return needs to be submitted online by 31 January deadline.

A late submission will incur an immediate penalty of £100, and this increases significantly the longer you delay.

Leaving it to the last minute means you are more likely to do it in a hurry and therefore more likely to make careless errors.

Here are 6 of the most common errors made when completing a tax return...

Read more...

Should you be including home office expenses on your tax return?

For owners of small businesses and independent professionals there are huge benefits to working from a home office, and for many a start-up it is an absolute necesity. With the right setup at home, you can achieve a high level of productivity and flexibility and enjoy lower running costs than a formal office setting.

But if you are working from home, should you be including the cost of your home office as an expense on your self-assessment tax return?

The answer to this question is quite different depending on whether you are working as a sole trader or as a director of a limited company.

Read on to find out whether you should be including home office expenses in your self-assessment tax return...

Read more...
Subscribe to this RSS feed