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“There is no such thing as a good tax.” – Winston Churchill. Yet here we are, — faced with one all the same. If you’re self-employed or earning extra income outside your 9 to 5, Self Assessment tax is something you can’t afford to ignore. It’s not just a form to fill in. It’s a legal obligation — with real cash flow consequences if you miss it, misjudge it, or misunderstand it. But here's the good news: paying your tax bill doesn't have to be stressful. It doesn't have to be last-minute. And it definitely doesn't have to come with a side order of panic. In this guide, I’ll walk you through how to pay Self Assessment tax with clarity — not confusion. You’ll learn what to expect, when to act, and the smartest way to pay (including a method that takes less than 60 seconds). We’ll also unpack hidden traps like payments on account, how to avoid penalties, and what to do if your cash flow’s tight. Read on — your future self (and your bank balance) will thank you.
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The routine services you would expect us to provide are listed below but it’s the important ongoing professional advice that really helps our clients.
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Dividends are payments that companies make to their shareholders from their profits. But there are many rules and details that you have to follow to pay dividends legally. If you don’t, you could get into trouble with the law or lose money.
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Navigating IHT forms can be tricky, with various pitfalls that could prompt a review. An incorrect IHT return can lead to significant costs, especially if HMRC imposes a penalty based on a careless or deliberate mistake. To prevent costly mistakes, families should be proactive in understanding the risks and taking steps to safeguard their inheritance.
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In today's major U-turn, HMRC declared that it will retract its current guidelines on the tax treatment of Dual Cab Pick-Ups (DCPUs). As a result, DCPUs will maintain their classification as commercial vehicles instead of personal cars, preserving the longstanding tax advantages for businesses and individuals.The government has taken into account the feedback from the agricultural and automotive sectors regarding the potential effects of altering the tax regulations. It has recognized that the guidance issued following the 2020 court ruling might affect businesses and individuals in ways that do not align with its broader objectives of supporting key industries, including those in motoring and farming.
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HMRC has increased its efforts against cryptocurrency investors as the crypto market has seen a huge surge in prices over the last year. Bitcoin has gone up by more than 150% in the past year. Crypto investors might get a letter from HMRC requesting them to submit documents that show their crypto transactions and earnings from their crypto assets.
We are experienced certified accountants in Kent that are committed to helping small businesses achieve growth.
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