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10 Jul 25

600K HMRC Penalties Issued to Low-Income Earners

600K HMRC Penalties Issued to Low-Income Earners HMRC penalties on low-income earners have soared, with over 600,000 late-filing fines issued to individuals who owe no income tax. If you fall into this group, self-employed on modest earnings, you’re still at risk of automatic £100 penalties, escalating into four- or five-figure…
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28 Mar 24

The Basis Period Reform

The basis period reform was announced as part of the Autumn Budget in 2021. This change will affect you if you are self-employed, part of a partnership or and LLP that currently don’t prepare their taxes in line with the traditional tax year of April to April. The purpose of…
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09 Nov 23

Who needs to file a tax return?

  Self-Assessment tax returns are one of the systems HMRC use to collect income tax. Tax returns are necessary to be completed by people that don’t have income that is taxed at the source. It can be confusing to know whether this applies to you as there are a multitude…
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