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What is the Trading Allowance?

Legislation, self-assessment tax return, Tax ReturnBy Clare Denison 13th December 2021

In April 20217, HMRC introduced the trading allowance (sometimes referred to as the hobby allowance) for people earning small sums of money through self-employment, casual or miscellaneous income. Continue reading to discover if you could benefit from the trading allowance.

Do I need to submit a self-assessment tax return if I work via an umbrella company?

self-assessment tax return, Tax, Tax ReturnBy Clare Denison 5th November 2020 Leave a comment

One of the benefits of being employed by an umbrella company is that your earnings are taxed before you are paid – so you don’t have to complete a tax return. However, you may need to complete one if you any have additional, untaxed income alongside your umbrella earnings.