Legacy
https://help.gosimpletax.com/hc/en-gb/articles/202028708-What-are-Payments-on-Account-
Is your tax due amount much more than what you initially expected? What is this amount under Payments on Account? This is an advance on the next year income tax, based on the value of the current year. If you're not making as much money, you can ...
https://help.gosimpletax.com/hc/en-gb/articles/202028558-What-is-a-NIN-
source: http://hmslt.weebly.com/uploads/9/1/9/0/9190111/5894887_orig.jpg In order for the Government to keep track of everyone’s personal tax status, each of us are allocated a unique identity at birth, even before we are christened or named by our ...
https://help.gosimpletax.com/hc/en-gb/articles/202028938-Self-employed-expenses-what-can-I-claim-
What types of expenses are there? Capital - This is the cost of buying, creating or improving a business asset, used to increase profit. The cost of buying a van for your business would be capital expenditure. Other examples include buying machinery, ...
https://help.gosimpletax.com/hc/en-gb/articles/202028778-Which-tax-records-do-I-need-
Each and every person filing for a self-assessment must have accurate and up-to-date business records from the last tax year. If left too late, record keeping can spiral out of control. To help you avoid added hassle and confusion, SimpleTax is here ...
https://help.gosimpletax.com/hc/en-gb/articles/202028608-What-are-the-Tax-Year-dates-and-deadlines-in-the-UK-
The tax year runs from the 6th April - 5th April. Your accounts need to be calculated according to these dates. You can start submitting your tax return on the first day of the next tax year 6th April. 31 October is the deadline for paper filing of ...
https://help.gosimpletax.com/hc/en-gb/articles/202028598-What-is-Income-Tax-
Our mission is to make tax simple and save you stacks of cash! Income tax has been confusing UK taxpayers for years resulting in taxation panic and worry, but SimpleTax is here to make things easy. Today, we’re going back to basics; we’re going to ...
https://help.gosimpletax.com/hc/en-gb/articles/202028798-Supported-forms
SimpleTax supports all SA100 forms. Click +New Page for each type of trade or other income class you receive during the year. The available pages are: Self Employment (SA103) Employment (SA102) Ministers of Religion (SA102M) Partnership Income ...
https://help.gosimpletax.com/hc/en-gb/articles/202028668-What-is-an-SA100-form-
Have you ever got scared by the ominous request of an SA100 form not knowing what it is? Basically, an ‘SA100 form’ is the official name for your self-assessment tax return. Today, SimpleTax is going back to basics, telling you everything you need to ...
https://help.gosimpletax.com/hc/en-gb/articles/202084646-Property-Rental
HMRC's Property Rental Toolkit states: All income except capital receipts arising from an interest in land is part of the rental business. As with any other business, property income can include payments in kind as well as cash receipts. It is also ...
https://help.gosimpletax.com/hc/en-gb/articles/202028898-Do-I-pay-tax-on-interest-from-savings-
There are a few things that will determine whether you have to pay interest on savings or not Your allowance for earning Tax Free interest will depend on: 1. Personal Allowance If you have not used up all your Personal Allowance in our wages, ...
https://help.gosimpletax.com/hc/en-gb/articles/202028748-How-do-I-get-started-with-SimpleTax-
To show the quick guide to help you get started, follow the steps below: click HELP at the top right of the Main screen click PLAY TUTORIAL Here's an overview of how the system is used. A Page is needed for each type of income or trade ...
https://help.gosimpletax.com/hc/en-gb/articles/200361539-Meeting-and-Entertaining-Clients
Can I claim? In a word, no. Conditions When you meet a client, for whatever reason, any money spent on food, drinks or entertainment is taken from your own pocket and is not tax deductible. You can no longer claim business expenses for taking a ...
https://help.gosimpletax.com/hc/en-gb/articles/200365039-Shows
In many industries, there is an element of getting about and being seen in the right places to promote your business, network and keep up to date with latest innovations. Sometimes, you will head to a restaurant somewhere afterwards to discuss ...
https://help.gosimpletax.com/hc/en-gb/articles/200819305-Web-Domain-purchases
Can I claim? Yes. Conditions If you decide to purchase a web domain in order to market your business more effectively, this cost is eligible for tax relief under the category of advertising costs. The only exception to this would be if part of your ...
https://help.gosimpletax.com/hc/en-gb/articles/200842855-Journals-and-Magazines
Gaining extra experience in the field that you operate in is always a good idea, as this helps you to stay ahead of the curve and be more competitive. Can I claim? Yes. Conditions In the case of magazine and journal subscriptions, the total cost ...
https://help.gosimpletax.com/hc/en-gb/articles/200364829-Training-Courses
To stay successful as a business and compete in tough market conditions nowadays, you need to stay abreast of changes in your industry and keep your skills and knowledge constantly updated. H.M.R.C. recognises this fact in their taking into account ...
https://help.gosimpletax.com/hc/en-gb/articles/200836045-Software
Does your business require specific software investments? If so, then you will be able to claim expenditure for software programs used in your business against your income. Can I claim? Yes. Conditions If you use computer software strictly for ...
https://help.gosimpletax.com/hc/en-gb/articles/202028858-Self-Employed-Home-as-Office
If you are Self-Employed and work from home, you may be entitled to claim part of your home expenses as a deductible expense. HMRC will allow a small charge of £2 per week without query. If a larger amount is claimed then you may be asked to ...
https://help.gosimpletax.com/hc/en-gb/articles/200819035-Professional-Insurance
Can I claim? Yes. Conditions Professional insurance comes in all kinds of shapes and forms but in many cases it's a legal requirement which is necessary in order to protect you in case of a claim being brought, either by an employee or a disgruntled ...
https://help.gosimpletax.com/hc/en-gb/articles/200806405-Water-Rates
Can I claim? Yes. Conditions In some cases it is possible to claim tax relief on your water rates but the extent of relief available depends on personal circumstances. By renting an office space exclusively for business use you are entitled to claim ...
https://help.gosimpletax.com/hc/en-gb/articles/200842915--Broadband
Can I claim? Yes. Conditions The costs associated with broadband services can be considered for tax relief but if you work from home the total will have to be adjusted accordingly (1). If you work out of premises dedicated solely to your business, ...
https://help.gosimpletax.com/hc/en-gb/articles/200836455-Tools
Tradesmen and some creative industries sometimes have difficulties deciding upon the legitimate claims they can make for buying tools for their trade. As more construction related jobs have a digital element to their tools, this is getting even more ...
https://help.gosimpletax.com/hc/en-gb/articles/200355689-Rent
Can I claim? Yes. Conditions This depends on whether your business is registered to your personal address, or if you rent other premises such as an office complex. In the latter case, providing the premises are for business use only, you can claim ...
https://help.gosimpletax.com/hc/en-gb/articles/202634568-Registering-for-VAT
VAT stands for the Value-Added Tax that's charged on most goods and services when it's provider shows a highly profitable business year. When your business income reaches the minimum HMRC threshold of £85,000 you must register for VAT. This value is ...
https://help.gosimpletax.com/hc/en-gb/articles/200356749-MOT-and-other-vehicle-fees-
Can I claim? Yes. Conditions If you use any type of vehicle solely for your business, then you can claim the cost of the MOT test against your business profits. However, as you may expect, the vehicle has to be used in order for you to operate as a ...
https://help.gosimpletax.com/hc/en-gb/articles/200355859-Computer-Laptop
Can I claim? Yes. Conditions Your business is sure to make use of a computer or laptop so yes, you can claim. If business use is 100% then claim the full purchase price. However, if you use it for both home and work then you can only allocate a ...
https://help.gosimpletax.com/hc/en-gb/articles/200355999-Mobile-Phone
Can I claim? Yes. Conditions If you have a mobile phone or number strictly for business use, then of course you can offset all phone costs against the business (1). However, if you use the phone for both business and private use (like many ...
https://help.gosimpletax.com/hc/en-gb/articles/200835915-Car-Purchase-to-Visit-Clients
Can I claim? Yes. Conditions The purchase of a vehicle used in your business is an allowable (capital) expenditure and can be deducted from your earnings. However, to qualify as ‘allowable expenditure’, it must be 'wholly and exclusively' for ...
https://help.gosimpletax.com/hc/en-gb/articles/200830585-Tube-Travel
For freelancers in London, the tube is a fast, affordable way to travel for business appointments. That said, if you happen to make a social call or two en route, then receiving tax relief on your tube fares becomes a little more complicated. ...
https://help.gosimpletax.com/hc/en-gb/articles/202028848-Understanding-your-Report
When entering your information on to SimpleTax all calculations are automatically done and you can consult all specific items on the "Report" feature. Still, all those "tax words" can be scary and you might not be quite sure what you are looking at. ...
https://help.gosimpletax.com/hc/en-gb/articles/200819305-Web-Domain-Purchases
Can I claim? Yes. Conditions If you decide to purchase a web domain in order to market your business more effectively, this cost is eligible for tax relief under the category of advertising costs. The only exception to this would be if part of your ...
https://help.gosimpletax.com/hc/en-gb/articles/200824815-Hotel-Visits
Can I claim? Yes. Conditions If being self-employed means that you have to travel for the business and stay away from home overnight, then you can claim tax relief to this expenditure. You will need receipts for all expenses claimed in this way and ...
https://help.gosimpletax.com/hc/en-gb/articles/202028888-Car-Mileage-Allowance
Do you ever use your car for business journeys? Do you pay for your own fuel? If so, you may be eligible to claim car mileage allowance. So what is the car mileage allowance? Basically, you can claim over 45p tax free as a mileage allowance if you ...
https://help.gosimpletax.com/hc/en-gb/articles/202028618-What-are-National-Insurance-Contributions-NIC-
Is there a constant deduction from you payslip? What is a NIC? Are these taxes? You pay National Insurance Contributions to build up your entitlement to certain state benefits, including the State Pension (Pension Credit) or other benefits, such as ...
https://help.gosimpletax.com/hc/en-gb/articles/202028658-What-is-CIS-about-
Under the so-called Construction Industry Subcontractor scheme, all payments made from contractors to subcontractors must take account of the subcontractor’s tax status as determined by HM Revenue & Customs. This may mean that as a contractor you ...
https://help.gosimpletax.com/hc/en-gb/articles/202028868-Self-Employed-SimpleTax-s-expenses-list
According to HMRC " If you are self-employed you’ll have various running costs and expenses. You take these costs and expenses away from your business income to work out the profit in your accounts. You can only deduct certain expenses as they aren't ...
https://help.gosimpletax.com/hc/en-gb/articles/115001159644-SA800-How-do-I-change-a-partners-profit-share-percentage-
Click on SETTINGS Click on Partnership Management Click the EDIT button on the partner's details you need to change Edit the Partner's Profit Share Click SAVE
https://help.gosimpletax.com/hc/en-gb/articles/115001153690-SA800-How-do-I-add-a-partner-
Click on SETTINGS Click on Partnership Management Enter the Partner's UTR Number and Search Click on YES to continue Enter the Partner's Information and click SAVE
https://help.gosimpletax.com/hc/en-gb/articles/360000808610-Pension-Savings-Tax-Charges
Box 11.1 SA101 Ai4 This is for UK Registered Pension Schemes. Your pension scheme administrator should have given you the information you need to fill in this box On the Pensions and Benefits Page, Click on + INCOME Select the income category: ...
https://help.gosimpletax.com/hc/en-gb/articles/360000981850-Foreign-Income-Property-Income-Allowance
Full Relief - If your property Income is less than £1000, the property allowance provides for full relief from income tax Not only is there no income tax to pay, but also no need to register with HMRC or file tax returns provided property income is ...
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