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Tax deductions for carpenters

Expenses can be confusing, so the available tax deductions for carpenters may not be obvious. But it’s not actually too complicated.

How to make an invoice template

In this guide, we’ll help you navigate the world of invoicing. That includes how to create the perfect invoice template and more!

Profit – Page 9 of 11 – Taxfix Taxopedia

Profit is how much money you're left with after you subtract costs from earnings. Knowing it is important because that is what HMRC will tax you on.

Class 3 National Insurance – Taxfix Taxopedia

Class 3 National Insurance is a voluntary payment that you can make if you have gaps in your NI record and you want to qualify for state pension.

CIS scheme – Page 9 of 11 – Taxfix Taxopedia

The CIS scheme is used by HMRC to ensure income tax is collected from subcontractors in the UK construction industry.

Tax allowance – Page 9 of 11 – Taxfix Taxopedia

A tax allowance is something that allows you to earn a certain amount of money tax-free. In the UK, there are a many available to claim.

Taxfix launches in Spain 🇪🇸 – Page 9 of 11 – Taxfix (formerly TaxScouts)

It’s official. Taxfix is making moves in Europe! We launched in Spain after four years of simplifying tax returns for the UK market.

Uber Tax Calculator – Page 9 of 11 – Taxfix

Use our Uber tax calculator to quickly work out how much Income Tax you’ll need to pay HMRC as an Uber driver or another ride-share driver.

How to claim your VCT tax relief

When you invest in a VCT fund, you can receive 30% income tax relief plus tax-free dividends. Here is how you actually claim your VCT tax relief.

Personal tax return – Page 9 of 11 – Taxfix Taxopedia

A personal tax return is a form submitted to HMRC to report your income, calculate tax owed, and determine if you're due a refund.

What are Expenses? – Taxfix Taxopedia

Expenses are costs that you might be able to claim against your earnings so you pay less tax. What and how much you can claim depends on your situation.

eBay tax calculator

Use our eBay tax calculator to work out how much you owe HMRC and whether you need to file a tax return if you buy and sell used goods!

Home Office Allowance – Page 9 of 11 – Taxfix Taxopedia

The Home Office Allowance is a flat rate that you can claim if you use your home for work. This flat rate based on the hours you work from home each month.

Net income – Page 9 of 11 – Taxfix Taxopedia

Net income is the income you receive after you've paid Income Tax and National Insurance. Here's how to calculate it for your income type.

Salary after tax calculator – Taxfix

Ever wondered how much you really earn after taxes? Use our calculator to work out your personal net income after tax deductions!

The benefits of a limited company – Page 9 of 11 – Taxfix (formerly Taxscouts)

There are plenty of benefits of a limited company. Let's decide if setting one up is the right move for your and your business.

IR35 – Page 9 of 11 – Taxfix Taxopedia

IR35 is a new law that allows HMRC to collect additional taxes if they consider that a contractor is actually a "disguised employee".

VAT – Taxfix Taxopedia

VAT ("Value Added Tax") is a tax added on most goods and services in the UK. If you are self-employed, you can register for VAT and claim it back.

What is Traditional accounting? – Taxfix Taxopedia

Traditional accounting is a kind of accounting that looks at when you send or receive invoices – regardless of when you actually received or spent money.

What is Taxable income? – Taxfix Taxopedia

What is taxable income? It’s the part of your income taxed after allowances, including income from jobs, self-employment, property, and more.

How to upload your Uber income to Taxfix

Want to file your tax return with Taxfix but not sure how to upload your Uber income to your Taxfix account? Look no further.

Taxfix Press Page – Find latest releases and media centre

Welcome to our press page. Explore the latest press releases, studies, facts, and background information, or get in touch.

Did the tax return threshold change for high-earners? – Page 9 of 11 – Taxfix (formerly TaxScouts)

In May 2023, HMRC announced that from 2023/24, the threshold to file a tax return was changing from £100k to £150k. Read more here.

Balancing Charge – Page 9 of 11 – Taxfix Taxopedia

How does HMRC make sure that you don't claim too much tax relief for a piece of equipment? They use what is known as a balancing charge.

Tax deductions for a personal trainer

As a self-employed personal trainer, HMRC lets you deduct your business expenses from your overall income when you do your tax return.

Make company taxes work for you - Taxfix

Get expert tax advice and support sorting your company accounts and tax return with our one-off tax return and subscription services.

Carer's Allowance – Taxfix Taxopedia

The Carer’s Allowance is an allowance that you can claim if you care for someone for at least 35 hours each week.

A company accountant in your corner - Taxfix

Get expert tax advice and support sorting your company accounts and tax return with our subscription service.

Trading Allowance – Taxfix Taxopedia

The Trading Allowance is a tax-free £1,000 that most self-employed people can claim. If you earned under £1,000 from self-employment, it's tax-free.

Dividend allowance – Taxfix Taxopedia

The dividend allowance is the amount of tax-free dividends that you can earn in a tax year. In the 2020/2021 tax year, it is £2,000.

How do I get a VAT Certificate?

To get your VAT certificate, register for VAT online by calculating your taxable turnover and gathering the necessary documents.

What tax do I pay as a freelance writer in the UK?

Freelance tax in the UK depends largely on your employment status, with different rates for self-employed individuals and side income.

Simplified expenses – Taxfix Taxopedia

Simplified expenses are flat rates that you can use to reduce your self-employment tax bill. They’re great if you drive a lot or can’t find your receipts.

Tax deductions for crypto traders

As a crypto trader, HMRC allows you tax deductions for your crypto expenses from your total earned income. What can you expense?

Community Investment Tax Relief (CITR) – Taxfix Taxopedia

The Community Investment Tax Relief (CITR) is a tax relief for investors who invest in disadvantaged communities, worth up to 25% of the...

How do I set up a limited company: A step-by-step guide

How do I set up my limited company, you ask yourself? Get the step-by-step info on what records you need to keep and how to register.

Do foreign entertainers and athletes pay withholding tax?

Whether you’re Lady Gaga, the next Rafael Nadal, or the person that hires them, it’s important you know all about withholding tax.

Company Tax Returns sorted online - Taxfix (formerly TaxScouts)

Use Taxfix' Limited Company tax return service to get an accredited accountant to sort your company accounts and company taxes for you.

What to do if you lose your P60 or P45?

Did you misplace your P45 or P60? It actually happens a lot and is nothing to worry about. Here's how to find them.

Equity crowdfunding – Taxfix Taxopedia

Equity crowdfunding is a form of crowdfunding. It’s a method through which an early stage business can raise money by selling shares.

Child Benefit Tax calculator – Taxfix

Quickly calculate how much child benefit you’re entitled to in a tax year and if you need to pay any of it back using our Child Benefit Tax Calculator.

Bereavement Allowance? – Taxfix Taxopedia

What is the bereavement allowance? It’s a benefit for people whose spouse has passed away, replacing the Widow’s Pension.

How does salary sacrifice work?

Wondering how does salary sacrifice work? Well, it lets you exchange part of your salary for benefits that reduce your taxable income.

Company Share Option Plans (CSOPs) – Taxfix Taxopedia

Company Share Option Plans (CSOPs) are a share option where a company can grant tax-free shares to an employee or a company director.

Direct Debit payment – Page 9 of 11 – Taxfix Taxopedia

A Direct Debit payment is an instruction to your bank, authorising someone to draw money from your account. You can use it for your tax bill.

Is the teacher tax rebate genuine?

There's a lot of debate about the teacher tax rebate and whether it's something that teachers can actually claim. Read this for guidance.

Interest on your savings is increasing your tax bill…

You may have already found out the hard way that interest earned on your savings is taxable. But, what does this mean for your savings?

How to pay UK taxes when living abroad – Page 9 of 11 – Taxfix (formerly TaxScouts)

You must still pay income tax on any income you get from the UK even if you live overseas. Here's how to prevent paying taxes twice.

CIS refund: all your FAQs answered.

Wondering how long a CIS refund takes? Get answers to all your FAQs, from agent authorisation to HMRC deductions here.

What are the taxes on cryptocurrency (UK)? – Page 9 of 11 – Taxfix (formerly TaxScouts)

If you're getting into trading and wondering what the taxes on cryptocurrency in the UK are, we've got you covered with this guide!

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