SELF EMPLOYED?
HERE’S A HORRIFYING GLIMPSE INTO THE FUTURE:
It’s April 2023
George is in the pub with John.
John gets the round in and starts the conversation.
‘How’s it going lad?’ he asks.
‘Sound thanks’ says George.
‘How are you coping with the new tax system?‘ says John.
‘How do you mean?‘ replies George.
‘You know, all self-employed people having to submit their figures to HMRC digitally’ says John.
‘I didn’t know that!’ replies George.
‘Honest, it’s true ‘ says John ‘and you have to send them in quarterly and then one more time after the end of the tax year to balance up’.
An ashen-faced George desperately rushes off to find an accountant leaving his drink for John to finish.
This isn’t fiction.
It’s not a horror film set in the future.
It’s actually happening.
If you’re self-employed you will have to be far more organised than you possibly are now.
You will need to send figures to HMRC five times a year instead of one.
You will need to submit your accounts digitally.
2023 will be here before you know it
Remember who warned you first about the upcoming digital tax submissions….
If you intend on being self-employed in 2023, now is the time to start getting prepared so that you know exactly what is required of you from April 2023.
Fortunately, I have a lot of knowledge regarding the upcoming changes and I would be happy to give you some advice and help you to get organised in time for the digital tax submissions.
If you need some guidance, please contact me.