Self Employed, Loans & Taxes
The Chanecllor has announced measures for the Self Employed, those businesses that have taken out loans, and taxes
The Chanecllor has announced measures for the Self Employed, those businesses that have taken out loans, and taxes
Accounting and tax treatment of IR35 deductions in the public sector.HMRC’s approach is not popular with everyone. Catch up on our latest advice.
An individual should file a tax return if they have a liability to tax, and that tax will not be collected through PAYE. For years before 6 April 2016, the tax deducted at source from interest and the tax credit attached to dividends would cover the tax liability of basic rate taxpayers who received large amounts of investment income.
HMRC have changed the way in which they will assess some taxpayers removing the need for these individuals to complete a Self Assessment Tax Return. These changes took effect from September 2017.
The affected taxpayers fall into one of two categories: