Really helpful videos thank you. Last 2 years our accountant helped us not pay the payment on account so we just pay 1 tax bill each jan can we keep doing that? as our income is still up and down post COVID ? (Self employed yoga teachers/PT) thanks again 😊
It depends on your income and situation, but in theory you have to pay what the revenue say to pay from your tax return, but can adjust that payment. The problem is if you reduce it and it turns out you should of paid more, they charge interest. Over the last 18 months ish they've had COVID delays that meant you could delay paying, but it's all needed now. I guess the common, short answer, would be no :- )
1 SA302 - next years tax return / tax calculation 🧮 saying this is what I showed to HMRC Proof of income for mortgages, loans 2 pay twice a year - January and July- possible cash flow advantage 3 peace of mind Avoid penalties. 4 HMRC has free tax return tool Provisional estimated figures Submit tax returns at correct time
Really helpful videos thank you. Last 2 years our accountant helped us not pay the payment on account so we just pay 1 tax bill each jan can we keep doing that? as our income is still up and down post COVID ? (Self employed yoga teachers/PT) thanks again 😊
It depends on your income and situation, but in theory you have to pay what the revenue say to pay from your tax return, but can adjust that payment. The problem is if you reduce it and it turns out you should of paid more, they charge interest.
Over the last 18 months ish they've had COVID delays that meant you could delay paying, but it's all needed now.
I guess the common, short answer, would be no :- )
@@HeelanAssociates thank you for you’re helpful thoughts and reply 😊
1 SA302 - next years tax return / tax calculation 🧮 saying this is what I showed to HMRC
Proof of income for mortgages, loans
2 pay twice a year - January and July- possible cash flow advantage
3 peace of mind
Avoid penalties.
4 HMRC has free tax return tool
Provisional estimated figures
Submit tax returns at correct time
👊
can you do a video on Turo its a car sharing app ?. What would be the tax implication how do my tax if I am employed thanks
Hi Phil, we'll put on the list for review.