This resource offers a guide to help you understand some of the basics behind the way self-employed people are taxed. These notes are not intended to be definitive and, with limited space available, can only deal with the basic principles. They have been prepared using information current in the 2019/20 tax year. Please note that the tax and National Insurance (NI) rules are constantly changing – one reason why professional advice is always important.
This document has been through due diligence, but it is emphasised that no responsibility can be taken for any action made or not made as a result of the contents.
This resource has been prepared by Nick Weeden, Chartered Accountant. All members are entitled to an hours free consultation with Nick. If you have any difficulties do not hesitate to contact HMRC or take advantage of your free consultation with Nick by emailing the AOI.