Mileage Records
Importance of Keeping Mileage Records Whether you are and employee of a company or a sole trader it is important that you keep accurate records of your business mileage. These records should be kept in case of a PAYE compliance visit by HM Revenue & Customs or an investigation into your tax return of you…
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Having the Right Documents to Back Up the Accounts
As a director of a company you have an obligation to submit your accounts to HM Revenue & Customs whether this is done by the company or your accountant. They will then do internal checks to make sure that your company is paying the right amount of tax at the right time and if not…
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Tax Update
Side-hustle reporting threshold increased The Government has announced plans to increase the threshold above which income from self-employment must be reported via self assessment. Currently, if you earn over £1,000 from self-employment, or a so-called ‘side hustle’ such as babysitting or dog walking, you need to report this income to HMRC by filing a self…
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