Further COVID-19 support needed to stop small firms collapsing
New research undertaken by the Federation of Small Businesses (FSB) indicates that the COVID-19 situation is dire for many small businesses – with up to 5% likely to go under if they do not get further...
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What are the different types of self-employment?
The idea of being your own boss is attractive to many. If you have a skill that people will pay you for or you wish to sell a range of products, self-employment may be a viable option. There are different types of self-employment, along with perks and pitfalls to becoming...
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Sole traders get COVID-19 tax extension
HMRC has indicated that sole traders will not be subject to the usual penalties for filing a tax return after the deadline, if they are able to demonstrate that the reason for being late is connected to...
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All you need to know about National Insurance for the self-employed
Anyone who is self-employed is responsible for paying National Insurance contributions, which are based on their income. In order to accurately calculate how much you must pay each tax year, it’s vital to keep detailed records of your business income and outgoings. In the following sections, we’ll explain what...
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