Big changes are here for the self-employed! From 2024-25, profits must align with the tax year, replacing the old "current year basis." Overlap relief is ending, and transition profits will be spread over five years. Here's how the new system affects your tax bill. The…
Year: 2025
Tax Diary February/March 2025
1 February 2025 - Due date for Corporation Tax payable for the year ended 30 April 2024. 19 February 2025 - PAYE and NIC deductions due for month ended 5 February 2025. (If you pay your tax electronically the due date is 22 February 2025)…