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  • S&S Isa and devidents declaration

    Hi, The self-assessment form has a part for declaring dividends and interest earned on Stocks and Shares. If my dividends are within the S&S ISA account, do I need to mention it in the Self-assessment for this tax year? Thank you!
  • RE: Cash basis accounting for online content creator

    Hi Patsy! I am not an accountant or employed by HMRC but I am a freelancer on the Upwork platform. I believe in cash accounting it matters when money is landed in your bank account. For example, if you had an income last tax year but did not cash it out to your bank account last year, but instead this year it will be this tax year declaration. Sorry if it wasn't helpful but that is how I understood it.
  • Equipment purchased abroad

    Hello, I am planning to purchase a piece of equipment I will use for freelancing. I probably will purchase it in Europe as it is cheaper there compared to the UK. Can I still claim tax relief on it as a Sole Trader? Thank you!
  • Freelance for a foreign company.

    Hi! I am freelancing for a US company and getting paid in $ to my PayPal. I do not have a bank account in the US, nor I am a resident. I am a resident only in the UK. Will I need to declare it as a foreign income or not? Thanks!
  • Cash Accounting, laptop purchase for services.

    Hi! I am starting to get more than 1000£/year for my side business and therefore need to be registered as self-employed. I want to upgrade my laptop for this self-employment. I am planning to register as a Sole trader and use Cash accounting next tax year for tax returns self-assessment. Will I be able to expense it for tax purposes? Let's say the laptop will be 2000£, will I be able to expense all 2000£ in this tax year (2024/2025) or will I need to stretch it over a couple of years (24/25 and 25/26) so it will make no difference compared to 1000£ allowance anyway as I will not have any other significant expenses. I do not think I will use it for person purpose while I am freelancing for that company, but might use it for personal use after a year or so. Thank you! Best, Julija