The deadline for filing your Self Assessment tax return is 31 January. This means that the filing deadline for the tax year 2021-22 is 31 January 2023. If you haven’t already you will need to file your income and expenditure from self assessment with HMRC online, plus pay any tax that you owe for this period, by midnight on 31 January 2023. Self-Employed Tax Deadline...
Allowable expenses are the essential costs of running your business that are tax deductible. Any outgoings that are allowable expenses can be deducted from your taxable income, allowing you to save money and reduce your tax bill. What Are Allowable Expenses? Keeping a good tax record will help you be tax efficient by deducting all of your allowable expenses before you submit your profits to...
Self-employed workers pay income tax differently to employees, who have PAYE tax deductions made on their regular wage payments, usually once a month to pay for their income tax and National insurance contributions. PAYE stands for pay as you earn. However as a self-employed worker, you are not required to pay tax on your income as it comes in. What Is A Payment On Account?...
Welcome to the September 2021 News Update from Prestige Business Management September 2021 News Update – featuring additional news developments from our newsletter series. Stay informed with the latest news in business support and financial affairs. Key Dates Coming Up Corporation Tax Payment – 1st October Due for businesses with 31 December 2020 year end. Additional Customs Requirements at UK Border – 1st October Mandatory...
The Prestige Business Management Guide to Self-Employment versus Limited Company In this guide to self-employment versus limited company we explain the differences between registering for self-employment, or a limited company, so you can select which is the right business model for your long term profitability. You have two options for how to run a business in the UK, either self-employment or register a limited company...
July 2021 Update – featuring additional news developments from our newsletter series. Stay informed with the latest news in business support and financial affairs. Key Dates Coming Up Payment on Account Due – 31st July If you have a tax payment on account, remember to make your payment on time, which is due by midnight on 31st July Employee Furlough Contributions Rise – 1st August...
It has been announced that the portal for applications for the fourth Self-Employment Income Support Scheme (SEISS) Grant, will open on 22 April. Self employed workers have been waiting since February for further guidance about the fourth SEISS Grant, which has been promised since October, but was not confirmed until the 2021 Budget on 3 March. Late Opening of the Fourth SEISS Grant Portal A...
Making life easier for the client is a key principle at Prestige Business Management. It’s always a small challenge to quantify exactly how much value we add by the way we work with our clients. This is one reason why we are proud to introduce to you MLM Accountant. Our specialist branch and brand of accounting for Multi Level Marketing Businesses. Targeted Accounting Knowledge Prestige...
March 2021 News Update – featuring additional news developments from our newsletter series. Stay informed with the latest news in business support and financial affairs. This month Prestige Business Management has moved our banking over to Starling Bank. Whilst we never encountered any problems with Barclays, this move better reflects our dynamic organisational culture. We expect even more dynamism from the economy in 2021. We...
Tide offers powerful, simple banking for modern businesses. Tide alternative bank account designed to reduce the time small to medium enterprises (SME) need to dedicate to their accounting. Prestige Business Management is proud to introduce Tide as our newest, professional partnership. Introducing Tide Banking At Prestige Business Management we take partnering with the right software and services very seriously. So we can offer you a...
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