The United Kingdom (UK) economy, like many others, took a strong blow in the past twelve months due to the global pandemic. Many countries are facing public debts that have not occurred for several decades. During this time, the UK economic saw a drastic fall in their Gross Domestic Product by a whopping 10%. Now
Even with the Coronavirus pandemic, Airbnb hosting doesn’t seem to be declining, and the company recently became publicly listed in the US. Airbnb remains an easy way for landlords to rent out their houses and get a little cash. However, the guidelines on tax payment and benefits for Airbnb landlords are unknown to many people
Being a Deliveroo rider comes with many perks such as flexibility and control over your time. But, just like other self-employed individuals, Deliveroo riders also have to pay tax. This could be pretty confusing especially if you only recently started as a Deliveroo rider or you’re new to self-employment. We’re going to break down all
Her Majesty’s Revenue and Customs (HMRC), the non-ministerial department of the UK Government responsible for the collection of taxes has extended the deadline for self-assessment tax by a month (until 28 February). An outcry that began as far back as November 2020 has finally yielded some welcome results. One-Quarter of Expected Tax Returns Yet to
The Self-Employment Income Support Scheme is a grant for members of partnerships or self-employed individuals whose businesses have been affected badly by COVID-19. The first grant allowed beneficiaries to claim a first taxable grant and it closed on July 13 2020. Applications for the second taxable grant are currently active and altogether gives 70% of
When You Qualify As an employee, it’s not uncommon to spend your own money on job-related expenses, especially when you have a deadline to meet. However, you may be able to claim tax relief on your expenses if you incurred them while performing your duties as an employee. It’s also worth noting that expenses are
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