Any self-employed person who has more than one source of self-employment is required to pay Class 4 National Insurance Contributions (NICs) on their total taxable profits. Class 4 NICs are paid by the self-employed as a percentage of annual … Continue reading Paying NI if you have more than one source of self-employment
As we speculated in a post last week, we expected and were granted, more tax by stealth in the October budget. This time, it was the self-employed who will potentially, be out of pocket. It will affect all self-employed businesses – sole … Continue reading Tax by stealth?
The final deadline for making a claim under the 5th Self-Employment Income Support Scheme (SEISS) is 30 September 2021. The SEIS scheme is only open to those self-employed with annual profits of less than £50,000 and who receive at least half … Continue reading Final Call For SEISS Claims
We have previously mentioned that draft legislation has been published to change the basis periods for the assessment of self-employed profits to coincide with the tax year. The proposed new rules provide that from 2023/24 onwards profits or losses … Continue reading Self-Employed To Suffer BIG Tax Bills in 2022/2023
Launching Today the Self-Employment Income Support Scheme for Sole-traders and those in a Partnership whose business has been affected by coronavirus. This Scheme is designed to match the support being given to furloughed employees. Those able … Continue reading The Self Employed Income Support Scheme Launches Today!
During the Pandemic, access to and information on help for the self employed, and partnerships has been delayed and often unclear, with those affected waiting to hear when the scheme would be available and unable to contact HMRC for any information. … Continue reading Further Updates On The Self Employed Grant Scheme
We recently helped a client (Client A) that had a query as to whether their workers were actually self-employed or employed. This is a common question we are asked by clients, more so now since the introduction of the IR35 legislation. Like many … Continue reading Case Study – IR35