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Are you switching from Limited Company to Umbrella Employment? Click here to calculate your take home pay >>

We have created an information hub to support our Orange Genie Accountancy clients, our Umbrella Employees and agencies where the Covid-19 rules and legislation are explained for recruiters, contractors and the self-employed. Click here to find out more>>

Self-Employed Contractors FAQ - October 2021

self-employed

Here are the most frequently asked questions we've received from self-employed contractors in October 2021, with answers from the experts at Orange Genie Accountancy:

Everything you need to know about self-assessment: Download our FREE guide>>

Do I need to record my accounts digitally?

With Making Tax Digital affecting landlords and the self-employed who earn over £10,000 per annum from 2023, it is advised that you start looking into bookkeeping software to record your expenses and income as soon as possible. Speak to your accountant for our highly recommended software and how we can help you get set-up.

Do I need to declare the SEISS on my self-assessment tax return?

If you received a payment from HMRC to support you during the coronavirus pandemic, you will need to report this on your self-assessment tax return as it is taxable. You will need to inform your accountant of how much you received during 2020/2021 for this to be declared and the tax calculated.

 

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