Being self-employed is hard enough without worrying about your tax return.
Painless, fast and done for you for £119. The way taxes should be done. Our accountants are experts in self-employed tax returns.
If you’re both employed and self-employed it can be difficult to work out what taxes you may owe.
Our calculator will show you how much tax your employer already sent to HMRC through PAYE and how much tax you need to pay on your self-employed income.
You need to let HMRC know when you become self-employed. It can be a bit confusing doing it yourself, but we can register for you for just £25. Once registered, HMRC will send you a UTR number, or Unique Taxpayer Registration number, in the post. Sleep easy and leave it with us.
For example: you works as a restaurant waiter in the morning and drive an Uber in the evenings. You will have to file a tax return for your Uber income.
If you don’t tell HMRC that you’re no longer self-employed, they’ll still expect you to file a Self Assessment tax return.
You’ll be fined if you don’t – even if you owe no tax at all.
The way you tell HMRC that you stopped being self-employed is by filing a tax return and specifying that it’s your last one.
We’ve created this guide that shows you how to register as self-employed.
We can also help you register as self-employed for a simple, one-off £25 fee.
You’ll get a UTR number which you need when you file your tax return.
If you’re self-employed, you can get up to £1,000 each tax year as a tax-free allowance. This is called the Trading Allowance.
“Payment on Account” means that you pay tax in two instalments:
In your first year as self-employed, you will likely have to pay 150% of your tax bill in one go.
Basically, it’s an advance payment. If you turn out to earn less or more this tax year, HMRC will adjust it for you, and refund if needed.
Also, if you earn more than 80% of your income through PAYE, you won’t need to use Payments on Account.
If you’re a construction worker working under the CIS (Construction Industry Scheme), you’re likely due a tax refund instead. That’s because your contractor is deducting 20% (or even 30%, if you’re not registered under CIS) from your pay, and sending it to HMRC. For most people this is more than they should be paying.
What you need to do:
You can claim pretty much everything that you use “for business”:
For most of these things, you need to calculate what proportion you actually use for your self-employed business.
“Self-employed” means that you do not work for an employer and you don’t pay Income Tax or National Insurance through PAYE
“Sole trader” is just the formal name for your self-employed business.