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What if I miss the 31 January deadline? Penalty Breakdown.

The tax deadline is around the corner… 31 January. But what happens if the clock strikes midnight and your Self Assessment is still sitting in your "to-do" pile? Many assume the damage is limited to a simple £100 fine. If you bury your head in the sand, that initial £100 can snowball into a debt of over £1,600 in penalties.

Arjun Kumar

Jan 22, 2026

Is your savings interest increasing your tax bill? What you need to know before 31 January

If you held £12,500 or more in savings during 2024/25, HMRC may require you to report your interest. Learn how the Personal Savings Allowance affects your tax and how to stay compliant before the 31st January Self-Assessment deadline.

HMRC side hustle tax warning: what the £1,000 allowance means for the 31 January 2026 deadline

The UK’s side hustle economy is booming, but earning extra income comes with new tax responsibilities. If you made more than £1,000 from reselling, freelancing, hosting, or online platforms during the 2024/25 tax year, you may need to file a Self Assessment tax return by 31 January 2026. With HMRC now receiving income data directly from digital platforms, missing the deadline can mean automatic fines. Getting your side hustle taxes right – and on time – has never been more important.

Tax Year Dates & Deadlines in the UK

Filing tax returns on time can be stressful, especially for the self-employed or those with multiple income sources. To avoid penalties, it's essential to be aware of the UK tax year dates and understand the process for filing your return.

Claiming expenses when working from home

If you've been working from home in 2020/2021, you may be eligible for tax relief that will reduce your overall tax bill.

Can I amend my tax return after submitting it to HMRC?

In some cases, you may want or need to make changes to your Self Assessment tax return. HMRC will let you adjust your submission for 12 months after the statutory deadline. And this can be done through the Taxd Self Assessment.

5 Best Company Tax Software for Small Businesses in 2024

As we move into 2024, small businesses in the UK are looking for ways to make their work easier and reduce paperwork. Technology is very helpful for managing taxes. With the right self assessment tax return software, small business owners can save time, make fewer mistakes, and follow HMRC rules.

Simplifying Your UK Side Hustle Tax: A Guide For Expats

In today's gig economy, side hustles are not just about earning some extra cash but also a pathway towards financial independence and entrepreneurial success. However, dealing with complex taxes can turn this thrilling journey into a confusing ordeal.

Arjun Kumar

Dec 23, 2025

How Can You Easily Calculate Capital Gains Tax in the UK?

When you sell or get rid of an asset, like property or shares, you might need to pay Capital Gains Tax (CGT). This tax is calculated by subtracting the asset's purchase price from the money that you receive on selling it. The profit you make from the transaction is what determines your tax liability. However, to get the actual profit, you also need to deduct any interest you paid when you originally bought the asset.

Tax Codes Explained: What Does The T Mean On My Tax Code?

You know those little letters and numbers on your paystub next to 'tax code'? Ever wonder what they mean? If you're like most people, tax codes seem utterly confusing, and you just accept whatever your employer has listed. However, understanding your tax code can help ensure you're paying the right amount and avoid issues down the road.

Are you a new tax filer this year?

If you have just started a side hustle, for example, your own YouTube channel or designing and selling your own T-Shirts. Maybe you've decided to rent out an apartment. Whatever it may be, you're likely to have questions as to whether there are tax implications. You should know that most employees pay their taxes through the PAYE system and aren't required to do a tax return. However, if now you have a new source of income, regardless of your employment, this may well have to be reported to HRMC.

Eamon Shahir

Dec 23, 2025

A Complete Guide to Understanding Capital Gains Tax with the Right Calculators in the UK

UK Tax Refund: What You're Owed and How to Get It Back

Tax Software to File an SA109 Residence Self-Assessment with HMRC

UK residents can file their tax returns online via HMRC’s website. However, this option is not available if you are filing the SA109 Residence Self-Assessment form.

Tax Reliefs and Profit Extraction for UK Limited Companies

Establishing a limited company in the UK does not simply allow for flexibility in the way you do business; it can allow you to plan your tax position strategically. One of the key tasks for directors is to determine the most tax-efficient way to extract profit from their business.

Tax for Models, Influencers & Content Creators

As a model, influencer or content creator, you are likely self-employed. You might earn money from various streams of income ranging from photoshoots, content creation, live streaming, and influencer marketing. This may also be your side-hustle... But either way, it’s worth claiming back all that you can!

Tax Benefits of Buy-to-let SPV’s

As the UK property market develops, savvy investors have increasingly turned to Special Purpose Vehicles (SPVs) for buy-to-let ventures. Not only can this approach provide extra asset protection and tax benefits that could significantly boost their bottom line; but in an age when every penny counts, it has never been more essential that investors understand all of its fiscal benefits when making buy-to-let investments through SPVs.

Steps to Claim Back Tax When Moving Abroad from the UK

If you have been taxed under the pay as you earn (PAYE) system in the tax year in which you leave the UK, then it is likely that you will be due a tax refund upon your departure from the UK.

Arjun Kumar

Oct 28, 2025

Simplified Buy-to-Let Tax Filing for LTD Landlords

Managing buy-to-let properties in the UK through a limited company (LTD) has financial and tax implications for landlords. When you know how to streamline buy-to-let tax filing and accounting, it can save you time, money, and stress.

Setting Up SPV for Buy-to-Let: What is it & How Do You Start One?

Setting up a Special Purpose Vehicle (SPV) for a buy-to-let property is a popular method for investors to separate their personal and company finances. An SPV is a limited company that owns the property, with the investor as the shareholder.

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