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COMPANY VS SOLE TRADER: BENEFITS AND DRAWBACKS

Should you be a sole trader or a company? We are often asked that question when people are setting up in business, and the truth is it depends on the individual scenario and what you are looking to…

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Information to keep for your personal tax return

The 2021/22 tax year ended on 5th April 2022, for which many of us will need to produce and file a personal tax return .  To make things easier, here is our list of the information you need…

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What is a P11D and do I need to complete one?

What is a P11D? The P11D form is a statutory form required to be filed with HMRC by those businesses that provide benefits to their employees that do not go through the PAYE system. You will also need…

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What does my tax code mean? 2022/23 Edition

What exactly do all the numbers and letters in my tax code mean?  And what do I do if I think it’s wrong? HMRC generate your tax code based on the information that they hold about you and…

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Do I need to file a personal tax return for 2022?

The 2021/22 personal tax year ended on 5th April and we are now in the 2022/23 tax year. Every year we are asked the same thing – ‘Do I need to fill in a personal tax return?’.  Here…

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