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What taxes does a freelance photographer pay?

As a freelance photographer, you are responsible both for finding your own photography work and for declaring your income to HMRC.

Maternity Allowance – Page 5 of 11 – TaxScouts Taxopedia

The Maternity Allowance is a weekly tax-free payment for pregnant women or recent mothers. It can be as high as £148 a week for 39 weeks.

Why money management and tax go hand-in-hand

Money management is central to being able to manage your taxes. So we’ve teamed up with our partner Money Dashboard to bring you the tips.

You’ve not heard of TaxScouts?

If you’ve not heard of TaxScouts, get yourself comfortable. We’re a team of tech geeks and accountants making tax returns accessible for all.

3 things self-employed people need to know this leap year

2024 is a leap year. What does that mean for self-employed people? Here are something things you need to know this leap year.

Tea talks tax fears and how to solve them

When you’re newly self-employed, tax is one of the big unknowns that can send you into a fluster. And it’s very normal to put it off.

Self-employed: cash basis or traditional accounting?

When you register as self-employed, you must choose between cash basis and traditional accounting. Find out the pros and cons of both here.

The ins and outs of nanny tax

Did you know that you may be liable for tax if you hire a nanny and not just work as a nanny? Shocking! We know - read to find out why!

What is the Form 64-8? – TaxScouts Taxopedia

You can use form 64-8 to enable your accountant to act on your behalf and deal with HMRC directly, as well as file your tax return for you.

Self-employed? You may have to repay SEISS grants

In 2020, around 5 million people had their data assessed to claim SEISS grants. And based on this, 3.4 million were eligible for a grant.

Class 2 National Insurance: who needs to pay it?

From 6 April 2024, Class 2 National Insurance is being scrapped. You can still pay it voluntarily if you want to qualify for benefits.

Higher Rate Tax – Page 5 of 11 – TaxScouts Taxopedia

The Higher Rate tax band is a tax rate through which you pay Income Tax. You pay it on your income between £50,000 to £150,000.

Wait, are footballers PAYE? 🤯

Yep, footballers are PAYE. But, specifically what kind of tax do footballers pay and exactly how much? Let's get into it.

Foreign Tax Credit Relief – TaxScouts Taxopedia

If you've paid foreign tax on income normally taxed in the UK, you may be able to claim the foreign tax credit relief. Find out more here.

The Spring Statement 2024

Here's everything you need to know about what was announced in the 2024 Spring Statement by Chancellor Jeremy Hunt.

Sole trader – Page 5 of 11 – TaxScouts Taxopedia

Sole trader is the legal term for self-employed people in the UK. Being self employed is the same thing as being a sole trader.

Balancing Payment – TaxScouts Taxopedia

The Balancing Payment is part of the Payment on Account process, this is due by 31st January. Find out more about Balancing Payment here.

Capital Gains Tax (CGT) – TaxScouts Taxopedia

Capital Gains Tax (CGT) is the tax you pay when you sell an asset (a property, shares, cryptocurrencies, etc.) for a profit.

What is a sole trader?

If you’re self-employed, you’re known as a sole trader. But, what does being a sole trader mean for you? And, how can you manage your taxes?

How to register for CIS

If you are a self-employed construction worker, you must register for the Construction Industry Scheme (CIS). Find out how to do this here.

CIS Tax Rebate calculator

Are you a CIS construction worker? Calculate how much you’re owed from HMRC by using out CIS Tax Rebate Calculator.

Do forex traders pay tax?

As a forex trader, there are a few things to consider, like how you trade and how much profit you make, when figuring out how much tax you’ll owe, if any.

Earning £100k+ and on the wrong tax code?

You’d be surprised by how many people earning over £100,000 are not aware that they need to do a tax return.

Where does a freelance personal trainer work?

As a freelance personal trainer, where you work is up to you. It’s one of the many advantages of working as a self-employed person.

Failure to Notify – TaxScouts Taxopedia

Failure to notify is a penalty for not letting HMRC know about changes that affect the amount of tax you would pay. It can be as high as twice the tax owed.

Business rates – Page 5 of 11 – TaxScouts Taxopedia

Business rates are taxes that you pay on top of council tax, if you work from home. If you're self-employed, you can claim business rates as an expense.

Can I claim driving lessons on tax?

First of all, what does the question, ‘Can I claim driving lessons on tax?’ actually mean? It basically asks whether driving lessons are tax deductible.

Are there disadvantages of sole trader businesses?

Have you decided to work for yourself but now you’re wondering if there are any disadvantages to sole trader businesses? Find out here!

Construction Industry Scheme (CIS) Card – Page 5 of 11 – TaxScouts Taxopedia

A CIS card is a card that shows that you're a self-employed construction worker registered with the Construction Industry Scheme (CIS).

Payment on Account – Page 5 of 11 – TaxScouts Taxopedia

A Payment on Account is a way of paying Income Tax and National Insurance in advance, usually if you earn over 20% of your income outside of employment.

I almost earn £100k… what next?

Do you have an income of nearly £100,00 a year? If so, there’s some important stuff to know before you reach that luxury salary bracket.

6 benefits of a contractor accountant

If you’re self-employed and looking for an accountant to help with your tax, here are 6 reasons why you should hire a contractor accountant.

What is a Taxpayer? – TaxScouts Taxopedia

A taxpayer is a person or a business who is supposed to pay taxes to the government. There are lots of different types of taxpayer.

What tax do you pay on savings interest?

Did you know that in some cases you'll have to pay tax on interest from savings? Find out more about the threshold and tax rates here.

Enterprise Incentive Scheme (EIS) – TaxScouts Taxopedia

The Enterprise Incentive Scheme (EIS) lets you save tax by investing in startups. You can claim 30% from HMRC and sell the shares tax-free.

Real talk: how is TaxScouts so low-cost?

If you know anything about TaxScouts, you’ll probably be aware that our £119 flat fee is tantalisingly well-priced.

Resident landlord – Page 5 of 11 – TaxScouts Taxopedia

A resident landlord is someone that rents out part of their home while also living there. You only need to do a tax return if you earn over £7,500 from it.

SA102 – Page 5 of 11 – TaxScouts Taxopedia

The SA102 is a form that you can attach to your main SA100 Self Assessment tax return form, if you need to tell HMRC more about your employment income.

SA105 – Page 5 of 11 – TaxScouts Taxopedia

The SA105 is a form that you need to attach to your SA100 Self Assessment document if you want to declare rental income from UK properties.

SA106 – Page 5 of 11 – TaxScouts Taxopedia

The SA106 is a form that you attach to your main SA100 Self Assessment tax return form if you need to declare foreign income or gains.

Do I need to pay Capital Gains Tax if I gift property?

If you gift a property which appreciated in value after purchasing it, you have to pay capital gains tax. These few things are exceptions.

SA108 – Page 5 of 11 – TaxScouts Taxopedia

The SA108 is a form that you have to fill in and attach to your main SA100 Self Assessment tax return if you need to pay Capital Gains Tax.

What are Dividend – Page 5 of 11? – TaxScouts Personal Tax Glossary

A dividend is a sum of money that you might receive if you own shares in a profitable limited company. Only limited companies can pay them.

Are bitcoins tax-free?

If you’re thinking of investing in cryptocurrency then you might be asking yourself, ‘are bitcoins tax-free?’. Unfortunately not!

Real Time Capital Gains Tax Service – TaxScouts Taxopedia

The Real Time Capital Gains Tax Service is one of the two ways which you can pay your CGT bill. Starting in April 2020, it's mandatory for property sales.

The SA108 form: how to use it to file your Capital Gains Tax

You must submit the SA108 to HMRC in order to pay capital gains tax. If you've sold any assets, securities, or crypto, you must use it.

How to pay tax on dividends

Paying tax on dividends all depends on how much you received in dividends this tax year. You don't always need to file a tax return.

UTR number? – TaxScouts Taxopedia

A UTR number (Unique Taxpayer Reference number) is a ten digit code that HMRC uses to keep track of taxpayers who need to file tax return.

Charitable donations – TaxScouts Taxopedia

Charitable donations are money that you give to charities. They are tax-free in the UK, so if you have made a donation, you can claim tax relief on it.

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Tax guides and articles

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