by Terry Phillips | Sep 30, 2025 | PAYE, Income Tax, Self-Assessment, Trading Allowance
Author: Phillips & Co Accountants, Chester Date: 30 September, 2025 As Accountants in Chester, we’re often asked: “I’m on PAYE but earn on the side — do I need to file Self Assessment?” Often, yes. If you have untaxed income, certain thresholds mean you’ll need to... by Terry Phillips | Sep 25, 2025 | Self-Assessment, hmrc, Income, Self employed, Sole trader
Author: Phillips & Co Accountants, Chester Date: 25 September, 2025 Self Assessment can feel intimidating the first time you do it. Good news: it’s just a series of small steps. Below we explain the process two ways—first for a sole trader, and then for someone... by Terry Phillips | Sep 19, 2025 | making tax digital, MTD ITSA
Author: Phillips & Co Accountants, Chester Date: 19 September, 2025 MTD for Income Tax (MTD ITSA) starts soon. If your qualifying income (gross self-employment + UK property) is over £50,000 on your 2024/25 return, you’ll need to use MTD from 6 April 2026. Those... by Terry Phillips | Sep 17, 2025 | Self-Assessment, AI, Self employed, Sole trader
Author: Phillips & Co Accountants, Chester Date: 17 September, 2025 AI tools can speed up your Self Assessment prep—sorting receipts, explaining jargon and drafting checklists. But generic tools can also misapply UK rules and miss reliefs. Here’s how to use AI... by Terry Phillips | Sep 16, 2025 | VAT, hmrc, VAT late submission penalties
Author: Phillips & Co Accountants, Chester Date: 16 September, 2025 If HMRC doesn’t collect your VAT Direct Debit after you’ve filed a return, panic is understandable. In some cases HMRC has cancelled the DD (for example, when moving a business onto payments on...