You made it and filed your self-assessment return for 2019/20 by 31st January 2021. However, having felt pleased with yourself, you realise to your horror that you have made a mistake and need to correct your return. Can you do this and if so, how and by when? Yes, you can If you have made a mistake on your return, for example entered a number incorrectly or forgotten to include something, all is not lost. As long as you are within the time limit, the error can be corrected b

What are the key differences between a Limited Company and a Sole Trader or Freelancer? If you are starting up a new business, this is one of the early decisions you will have to make so it's worth knowing a little bit about the key differences and what your responsibilities are as a business owner under each model. Liability As a sole trader you and the business are legally meshed. This means you are personally responsible for anything which might go wrong, including any de

Top tips to get your tax return working for you and not against you 1. What do I have to do and when? The deadlines (following the tax year end 5th April) are: · Register for self-assessment by 5th October · Paper tax return by midnight 31st October · Online tax return Midnight 31st January (following calendar year) · Pay the tax you owe Midnight 31st January (following calendar year) But don't wait! – there are big advantages to getting ahead. You can file your tax return at