Beware of ‘careless mistakes’
Penalties for careless mistakes in tax returns? Recently, some departments have calculated the 2021/22 year HMRC fines for taxpayers in tax returns. The 80% penalty for “careless mistakes” by taxpayers has nearly tripled by 40,000 from the previous year....
Being or Set up as a Sole Trader
Nowadays, more and more people want to start their own businesses or become their own bosses. Although the business model is not so complicated, they also face a series of problems such as taxation. Three quarters of businesses in the UK are currently self-employed...
Knowing the Tax Investigation
Some self-employed individuals sometimes face sudden tax audits, often for no single fixed reason. Sometimes HMRC suspects that inaccurate tax returns can trigger serious tax investigations. Once the lengthy investigation begins, it will be complicated and a headache...
