Legacy
https://help.gosimpletax.com/hc/en-gb/articles/360000590890-Trading-Income-Allowance
Please watch the following video or follow the instructions as shown below: Click on the Self Employed Page Click on + INCOME Select the income group Trading Income Allowance Enter the amount as a positive figure Note: Trading Income ...
https://help.gosimpletax.com/hc/en-gb/articles/115000656410-Dividends-Calculation-Change
From 6th April 2016, after including a £5,000 ‘dividend tax allowance’, dividends are taxed at 7.5%, 32.5% and 38.1% (basic, higher and additional bands). To view the calculation Click on REPORT Click on VIEW TAX CALCULATION
https://help.gosimpletax.com/hc/en-gb/articles/115000027404-Where-can-I-enter-Adjustments-to-Partnership-Profits-to-reduce-the-Class-4-National-Insurance-I-need-to-pay-
Some adjustments can reduce the amount of Class 4 National Insurance contributions you have to pay. These include: • adjustments for changes in accounting practice • certain losses from earlier years • employment earnings included in your profits ...
https://help.gosimpletax.com/hc/en-gb/articles/360000807090-How-do-I-show-my-mortgage-interest-Property-Finance-costs-explained-2018-2019
The tax relief that landlords of residential properties get for finance costs is being restricted to the basic rate of Income Tax. This is being phased in from 6 April 2017 and will be fully in place from 6 April 2020. For the 2018 to 2019 tax year, ...
https://help.gosimpletax.com/hc/en-gb/articles/115000336924-Will-your-Student-Loan-be-repaid-in-2-years-
If you think your loan may be fully repaid within the next 2 years you will need to indicate this on your Tax Return. Click on Validate My Return Click on YES to proceed. Answer YES if you think your Student Loan will be repaid within the ...
https://help.gosimpletax.com/hc/en-gb/articles/115000027424-My-address-is-different-to-that-held-by-HMRC-how-do-I-advise-them-of-the-change-
Click on VALIDATE MY RETURN Select YES on the radio button question; Is your address different to that held by HMRC? Enter the date on which you changed your address
https://help.gosimpletax.com/hc/en-gb/articles/115000345724-Can-I-copy-my-last-years-information-into-the-Current-Return-
Click on SETTINGS Click on MOVE DATA Select the source year and the destination year from the drop down list Click on COPY
https://help.gosimpletax.com/hc/en-gb/articles/115000024470-How-do-I-record-Partnership-Income-
Click on ADD NEW PAGE Select Partnership Enter the PARTNERSHIP DETAILS Click SAVE To add income click on the PENCIL icon
https://help.gosimpletax.com/hc/en-gb/articles/115000668024-Seafarers-Earnings-Deductions
If you’re an employee and work at sea, you may be able to reduce your tax bill by getting the Seafarers’ Earnings Deduction. To make the claim; Click on Other Income & Losses Click on Expenses Click on ADD Group Select Seafarers ...
https://help.gosimpletax.com/hc/en-gb/articles/360000968210-Property-Foreign-Income-Traditional-accounting-or-Cash-Basis
Cash basis is a simpler way of working out your property business profits or losses. You add up all your property income received (your turnover) and take off any allowance expenses paid in the year. Don’t include money you owe or owed to you after 5 ...
https://help.gosimpletax.com/hc/en-gb/articles/360000808650-Property-Income-Allowance
If your property income is over £1,000 and you’re claiming property income allowance, thetotal amount of the allowance claimed from all property businesses (this includes overseasproperty businesses) cannot exceed £1,000. Under Property Income, ...
https://help.gosimpletax.com/hc/en-gb/articles/115000024530-I-have-income-tax-refunded-in-the-year-how-do-I-add-this-to-my-tax-return-
This may be a repayment of CIS deductions (if you work in the construction industry), PAYE tax or tax paid on savings income. It may also be an amount reallocated by HMRC to an existing debt. When you are ready to file your TAX RETURN Click ...
https://help.gosimpletax.com/hc/en-gb/articles/115000027384-How-do-I-record-Partnership-Losses-brought-forward-
Click on the Partnership Page Click on EDIT Click on LOSSES Enter the VALUES Click SAVE
https://help.gosimpletax.com/hc/en-gb/articles/360000808410-Partnership-Property-Finance-Costs
For the 2018 to 2019 tax year, you can only claim 50% of the cost of getting a loan, or alternativefinance to buy a residential property that you let, and 50% of any interest on such a loan oralternative finance payments. To show this on SimpleTax, ...
https://help.gosimpletax.com/hc/en-gb/articles/115000024510-How-do-I-record-Foreign-Income-
Click on ADD NEW PAGE Select FOREIGN Income Enter the details required Click SAVE
https://help.gosimpletax.com/hc/en-gb/articles/360000901730-Estate-Income-Restricted-Finance-costs
For the tax year 6 April 2018 to 5 April 2019,the allowable costs of getting a loan or alternativefinance to buy a residential property that is let,and any interest on those loans and alternativefinance, is restricted to 50% of these costs for each ...
https://help.gosimpletax.com/hc/en-gb/articles/115001235524-Business-Receipts-Taxed-as-income-in-earlier-year
If, after your business ceased, you received any business receipts that need taxing as income of an earlier year, put you can report this by following the steps below Click on the Investments, Interest and Dividends Page Click on + Income ...
https://help.gosimpletax.com/hc/en-gb/articles/360001063604-Residential-Finance-Costs-Property-Abroad
For the tax year 6 April 2018 to 5 April 2019 the allowable costs of getting a loan or alternativefinance to buy a residential property that is let ,plus any interest on those loans and alternativefinance agreements is restricted to 50% of the ...
https://help.gosimpletax.com/hc/en-gb/articles/115000336944-How-do-I-show-Goods-Services-taken-for-personal-use-
Click on on the Self Employed Page Click on ADD GROUP EXPENSE Select Tax Adjustments Click Save Click on ADD EXPENSE Select Goods and Services for own use Enter the amount Click Save
https://help.gosimpletax.com/hc/en-gb/articles/360000898830-Domicile
Please note - Domicile is not the same as nationality or residence.Usually you have your domicile in the country where you have your ‘real’ or permanent home and you cannot be without a domicile pr have more than 1 domicile at the same time There are ...
https://help.gosimpletax.com/hc/en-gb/articles/360001034564-Property-traditional-accounting-or-cash-basis-
Cash basis is a simpler way of working out your property business profits or losses. You add upall your property income received (your turnover) and take off any allowable expenses paid in theyear. Don’t include money you owe or owed to you after 5 ...
https://help.gosimpletax.com/hc/en-gb/articles/360000590870-Foster-Carer-or-Shared-Lives-Carer
If you are a Foster Carer or a Shared Lives Carer, you can show this on your Tax Return, Self Employed Page Add the Self Employed Page Click on the EDIT button Select the Foster Carer Radio Button Click SAVE
https://help.gosimpletax.com/hc/en-gb/articles/202269108-Freelancing-A-Beginners-Guide
The basics of freelancing Step 1: Registering and Taxes Get your UTR (Unique Taxpayer Reference) Receiving your UTR Activating your HMRC Registr
https://help.gosimpletax.com/hc/en-gb/articles/202028828-Can-t-submit-my-return-Authentication-error-message-
The HMRC credential validation is indeed one of the most complex and time consuming aspects of filing a tax return. So please bare with me testing the 4 possible reasons for HMRC's declining your submission. you accidentally copied ...
https://help.gosimpletax.com/hc/en-gb/articles/202028808-How-long-does-it-take-to-submit-my-return-
After clicking “Submit to HMRC” and validating your credentials most tax returns are processed within 15 seconds but, unfortunately, the group that goes over this threshold takes hours (4 hours on average, with the slowest ones going over 9 hours). ...
https://help.gosimpletax.com/hc/en-gb/articles/209791813-How-To-Complete-Phone-Verification-
Previous step here Enter a phone number Select to receive a text message Note: For overseas verification, enter a number without the country code and tick I do not have a UK phone number Proceed to the next page and enter the verification ...
https://help.gosimpletax.com/hc/en-gb/articles/202110943-QuickBooks
PLEASE NOTE THIS FEATURE IS CURRENTLY UNAVAILABLE WE ARE LOOKING AT UPDATNG THIS IMPORT IN THE FUTURE. APOLOGIES FOR ANY INCONVENIENCE THIS MAY CAUSE. Connect "What service would you like to import from?" Quickbooks Select which values you wish to ...
https://help.gosimpletax.com/hc/en-gb/articles/206806370-How-Will-My-Rebate-Be-Paid-To-Me-
The system defaults to Cheque Payment. If you prefer a Bank Transfer, Click Validate my Return Select Yes to get the rebate paid by Bank Transfer Enter the Bank/Building Society Details
https://help.gosimpletax.com/hc/en-gb/articles/206805970-How-do-I-submit-my-Self-Assessment-
Click SAVE & CONTINUE then click YES to proceed. Select Yes or No in all the Relevant Radio Button Options, please be sure to scroll down the page so you do not miss any questions. Click on MAKE PAYMENT Enter Payment Details ...
https://help.gosimpletax.com/hc/en-gb/articles/202028818-Return-Amendment-re-submitting-your-return
Do you wish to submit a new return but have already a previous delivery for the same year? Forgot some values? Need to make some corrections before HMRC corners you? SimpleTax has you covered! When you re-submit your forms the following message ...
https://help.gosimpletax.com/hc/en-gb/articles/206806270-How-Do-I-Transfer-My-Partner-s-Personal-Allowance-
Click Validate My Tax Return Select the 'YES' radio button to indicate that your partner has made an election to transfer their personal allowance to you
https://help.gosimpletax.com/hc/en-gb/articles/202028838-Adding-Student-Loans-Bank-Details-and-Losses
Can't find where to input your Student Loan information? Where can you send your repayment bank details? How about Marriage Allowances or National Insurance Voluntary Contributions? All these options will be present in SimpleTax's Validate my Tax ...
https://help.gosimpletax.com/hc/en-gb/articles/202028698-What-is-a-Reasonable-Excuse-for-my-late-tax-return-
It goes without saying that meeting the tax deadline is important, and you should do everything you can to file your taxes before 31st January. If you fail to meet this deadline then HMRC will penalise you, unless you have a ‘reasonable excuse’. ...
https://help.gosimpletax.com/hc/en-gb/articles/202061583-Business-Losses-Self-Employed-and-Property-
If your business makes a loss you can get tax relief for it. You can do this by setting the loss against your income, gains or profits. This applies to Self-Employed and Property Rental trades. income for the current or previous year income in the ...
https://help.gosimpletax.com/hc/en-gb/articles/201934396-What-are-charitable-donations-
If you’re feeling extra generous, why don’t you give some money to charity? If, for example, you earn £51,000, giving £1,000 will reduce your net income to £50,000. Whilst also doing a very good deed, giving this money to charity can also make you ...
https://help.gosimpletax.com/hc/en-gb/articles/208379583-Relief-for-losses
The following is intended as a guide only. Reliance can only be placed on information directly received from HMRC. SimpleTax is not authorised to give tax advice. Trading losses can be set against current or prior year income. Use though maybe ...
https://help.gosimpletax.com/hc/en-gb/articles/202028648-What-is-PAYE-
On your wage slip you will see the amount of tax you are paying monthly or weekly. Alongside this amount there will be deductions for your pension and national insurance. It is automatically deducted from your wages or salary by your employer ...
https://help.gosimpletax.com/hc/en-gb/articles/202028678-Claim-Uniform-tax
Do you wear a uniform to work? Have you had to wash it, repair it or replace it? Whether it’s simply a shirt with a logo or full head to toe attire, such as a nurse, chef or police officer, you may be entitled to claim uniform tax worth £100s over ...
https://help.gosimpletax.com/hc/en-gb/articles/202049633-Underpaid-Tax-or-Outstanding-Debt-in-your-tax-code
When your employment income increases you tax code should be updated by HMRC sending your employer a P6 form, either online (through PAYE Online) or by post. However, if this code is not timely adjusted you might be underpaying your income tax and ...
https://help.gosimpletax.com/hc/en-gb/articles/202028558-What-is-a-National-Insurance-Number-NINO-
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 ...
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