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The SA302 is a brief summary of the income that has been reported to HMRC. It is a response from HMRC which is only issued to those who submit a Self-Assessment tax return before 31 October (for paper returns) or 31 January (for online returns) following the end of the tax year.

The Self-Employment income support scheme, also known as SEISS, was introduced by the government to support self-employed employees throughout the coronavirus outbreak. The scheme offers a grant payment worth 80% of someone’s monthly trading profit, for a three-month period, worth up to £7500 in total.

Unique Tax Reference numbers, more commonly known as UTR’s are 10-digit codes that uniquely identify you or your business. Not everyone has a UTR number, but if you are carrying out self-employed work then you will need to register for one as soon as possible.

Your tax code is used by your employer or pension provider to work out how much Income Tax to take from your pay or pension, you will be able to see your tax code on your payslip provided by your employer. It is a good idea to check you are currently on the right tax code as it will determine the amount of Pay As You Earn (PAYE)  tax you are charged on your salary.

31st January is an important date, it is the deadline to complete and submit your tax return to HMRC. If you have a lot of outstanding Tax Returns, please do not feel worried, contact us at Rebate My Tax and we can start looking at your current and previous tax years. We will require information as to why your returns were not completed, and if you have a reasonable enough excuse then we can do our best to get your fines and penalties reversed and get your taxes back up to date.

If you work for a contractor in the construction industry as a self-employed individual then, under the CIS, the contractor is obliged to withhold tax on its payments to you. This is different from other self-employed individuals, who normally receive their payments gross.

If you’re paying to buy, repair or replace your uniform or protective clothing you need for work, you may be due a tax refund from HMRC. You won’t get it automatically, you will need to claim it back by submitting a tax return. You must have proof of your expenditure so it is important to keep any receipts, you can upload them to our amazing app so it is easy for yourself & us as your agent to keep track. We will then put the expense into your tax return to claim back.

The marriage allowance is a government scheme designed to give married couples income tax relief. Essentially, you are able to transfer some of your tax-free allowance to your spouse if you make less than the current personal allowance. In doing this, they can reduce their tax bill by up to £250 over the year.

For most UK workers, the Pay As You Earn (PAYE) scheme is how they pay the tax they owe on their income. HMRC gives you a tax code, which your employer uses to work out how much tax to take from your pay. They then send that money to HMRC before paying the rest to you.