Personal tax Archives - Ronzl Accountant

05 Apr 20

I AM SELF EMPLOYED AND AFFECTED BY COVID-19, HOW MUCH GRANT WOULD I BE RECEIVING?

The self-employed income support scheme was one of the last grants that were announced by the HMRC. The Chancellor confirmed that it was difficult to assess how the amount of grant that could be given to self-employed individuals in the UK due to the flexibility of their income. Who qualifies for the Self-employed income support […]

IR35 legislation,changes in the private sector from April 2020

03 Mar 20

7 THINGS YOU NEED TO KNOW NOW THAT YOU ARE UNDER 1R35 LEGISLATION

NOW THAT YOU ARE CAUGHT UNDER IR35 LEGISLATION, WHAT NEXT? It is not news again that the IR35 legislation is changing from April 2020. If you would like to read about these changes you can click or watch a video kindly click In this blog post, I have explained 7 things that contractors that are […]

23 Aug 19

THE SELF-ASSESSMENT SYSTEM IN THE UK

Self-assessment system is used by the HMRC to administer and collect tax from taxpayers in the UK. Most UK taxpayers’ tax is collected at the source, however, some taxpayer under this system have to administer their tax by themselves. If not administered well, they are given penalties and made to pay interest on unpaid tax. […]

01 Apr 19

Taking the offer before it is too late

By Ola Sulaimon IN the UK, individuals that earn income from letting property normally pay tax on their rental income. The tax would be applied on the rental profit rather than the rental income. At Ronzl accounting firm in the United Kingdom, we also support individuals that are trying to take advantage of the property […]

03 Mar 19

Tax savings and relief for Pension contributions

Pension in UK In the UK, every time an individual makes a qualifying contribution into a registered pension, they enjoy tax relief. This relief is either enjoyed at the source or by claiming through your self-assessment. The restriction for Pension tax relief. To be able to enjoy this relief you should have actually earned £3,600 […]

Starting a new business,taking on a new challenge!

19 Feb 19

NEW YEAR, NEW YOU!

Starting a new business, taking on a new challenge! As we start the New Year, we might feel that we need to start a new business. As a result, this decision might be you quitting your old job and starting a new business. What to do as you leave the old and start a new […]

08 Feb 19

HOW YOUR PERSONAL ALLOWANCE AFFECTS THE TAX YOU PAY!

Personal allowance and tax band explained. The Personal Allowance is the amount of income everyone is entitled to receive free of tax each year. the amount for the tax year 2018/19 is £11,850. Every individual living in the UK is entitled to a personal allowance. If it is not fully used, then the unused allowance cannot be carried […]

01 Feb 19

ARE YOU AN EMPLOYEE OR SELF EMPLOYED?

Employment status key test. Who is an Employee? An employee is an individual who works part-time or full-time under a contract of employment, whether oral or written, express or implied, and has recognized rights and duties. Often people mix this up as they are not sure what category they are on. I have been often […]

02 Nov 18

WHAT TO DO WHEN YOU PAY TOO MUCH TAX.

When a business or individual pays too much tax in a year they could claim a relief referred to as Overpayment relief. To be able to make this claim, it must be made in writing within 4 years after the relevant tax year. To make this claim, certain conditions must be met. Conditions for Overpayment […]

20 Oct 18

5 Ways Even Sole trader And Individuals Can Pay Lower Tax.

Sole traders and individuals in the UK can also save tax by having a good tax plan. In this blog, I have explained how this can be achieved. Main Tax Paid by Sole traders A sole trader usually pays mainly three types of tax. Income tax for Sole traders A sole trader would pay income tax […]

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