Article by GoSimpleTax Once upon a time, not too long ago, most people would have had one income source – usually their job, working for one employer, But, over time, things have changed. Many people now have more than one income source, either through choice or necessity. Lots of people with jobs also have a […]

Article by Coconut Making Tax Digital for Income Tax For many sole traders and small private UK landlords, things are about to get more challenging, with the fast-approaching phased introduction of Making Tax Digital for Income Tax. This will drastically change how most sole traders and landlords are required by law to maintain records of […]

Managing payroll is an essential task that can quickly become complex, particularly for small businesses. Ensuring employees are paid correctly, staying compliant with tax regulations, and maintaining accurate records can soon feel overwhelming. The good news is that with the right approach, and the right tools, payroll can become far more manageable. In this guide, […]

Article by GoSimpleTax A government proposal to increase the Self Assessment tax return threshold for traders from £1,000 to £3,000 before the end of this parliament (2029) would mean 300,000 people (98% of them self-employed) no longer having to file a tax return. An estimated 90,000 would also have no tax to pay and many […]