As tax season approaches, Young Entrepreneur of England member and Ellis Bennett from EA Accounting, has put together a list of tips to help prepare you for tax season.
1. You need to register with HMRC for a UTR number (unique taxpayers’ reference) if you haven’t got one already. This allows you to submit a personal tax return.
2. You will need to get together all your income and expenses for the tax year from the 6th of April 2020 until the 5th of April 2021.
4. You will need to create a personal tax account and register for self-assessment, alternatively appoint an accountant to save this stress!