How can I claim my tax refund? Claiming back overpaid tax isn’t difficult. In fact, it’s pretty straightforward. If you’re entitled to a refund, you simply fill out a form – either online or via post – and send it off to HM Revenue & Customs (HMRC). HMRC will then process your request and issue…
A PAYE draft form is used to calculate how much income tax you must pay each month. This is different from the standard PAYE form, called P45. The standard PAYE form is used to calculate what amount of national insurance you are required to pay. This article explains the difference between the two types of…
If you are planning to move abroad, you’ll want to make sure you’ve got everything covered. From making sure you know what you’ll owe in taxes to filing your return, there are plenty of things you need to do. Here’s how to find out about HM Revenue & Customs’ rules on working abroad. You must…
What is a P60? A P60 is a summary report of what each employee has received in income tax payments from April 2017 to March 2018. You are required to submit it to HM Revenue & Customs (HMRC) no later than 31 October 2018. Failure to do so could lead to fines of up to…
Employers are now required to complete a self assessment tax return each year. This is done online via the Self Assessment Tax Return (SATR). The SALT system will accept the information entered into the form P38. The form P38 is used to report the following: • Income earned during the period covered by the return…
What is a P11D? A P11D form is a statutory requirement under UK tax law. It is used to report any benefit given to directors and employees. Any benefit over £8k must be reported. The form is used to record information about payments of cash, goods or services. There are four categories into which the…
The self certification sick/fit notes (SC2) program allows employers to request a doctor’s note for employees who are unable to work due to illness or injury. This is a voluntary program that provides benefits to both employer and employee. However, it does require some coordination between the employer and the employee. If you are interested…
The Internal Revenue Service sends out an SA302 form every year after you file your taxes, giving you information about how much income you earned and what deductions you are eligible for. This form is called “SA302.” If you received it, you’ll see the number “0” next to the word “Form 1099-SA,” meaning that you…
What is an SA104 form? A partnership is a type of arrangement where two or more individuals agree to join forces to carry out some sort of activity. In return for their efforts, each partner receives a proportionate share of the profits or losses generated. In terms of tax law, partnerships are treated differently to…
What is an SA102 form? There are many different forms that you can use to claim back money paid to the British taxman. One of those forms is called the Self Assessment 102 form. This form allows individuals to calculate how much they owe the British government. You can fill it out online or download…