With just over a month to go until the self-assessment tax deadline, it is worth double-checking whether or not you have to submit a self-assessment tax return. In many cases, umbrella company employees won’t need to submit a tax return because they are taxed similarly to those in permanent employment (PAYE). However, any additional income may need to be disclosed to HMRC by submitting a tax return. Continue reading to discover whether you need to file a self-assessment tax return.
If you are required to submit a self-assessment tax return for the 2020/21 tax year, it’s recommended you file it before Christmas – to ensure you’re well within the deadline of the 31st January 2022. This blog explains more about the importance of beating the deadline, and we explain who needs to complete a tax return. There are also a few eye-opening facts about the submission of tax returns during the Christmas period. Keep reading to find out more.
The government has launched an open consultation into the role of umbrella companies in the labour market to better understand the industry and how umbrellas interact with the tax and employment rights systems. The consultation requests multiple stakeholders’ input by answering a series of questions, including contractors, recruitment professionals, and end-hirers. In this article, we summarise the consultation and explain how you can help contribute to the sector’s expected developments next year.
Whether you are new to cryptocurrency or a seasoned veteran, it’s crucial to understand how HMRC taxes crypto assets such as cryptocurrency or bitcoin. Please continue reading to discover everything you need to know about UK cryptocurrency taxes in our comprehensive guide.