Managing your Taxes

Tips on how to manage your taxes

13 articles in this collection
Written by Adam Goodall, Eva, and Steff

Can I add extra income and expenses?

If you have transactions from before you started using Coconut, you can add these in your Tax Profile

Written by Eva
Updated over a week ago

What counts as business income?

Working out what to include as income for your self-employed tax return

Written by Adam Goodall
Updated over a week ago

Cash vs. Accruals Basis

Exploring the differences between recording income on a 'cash' or 'accrual' basis

Written by Steff
Updated over a week ago

What expenses can I claim?

Learn what expenses are allowable when you're claiming for tax

Written by Adam Goodall
Updated over a week ago

Do I need to register as self-employed?

When you need to register, and how to go about it.

Written by Adam Goodall
Updated over a week ago

Personal Tax for Sole Traders

How does the tax estimate work?

Guidance about Coconut's tax estimate for self-employed sole traders

Written by Adam Goodall
Updated over a week ago

How do I handle my employment income?

Get paid by an employer through PAYE? Here's how to handle this in Coconut

Written by Adam Goodall
Updated over a week ago

Preparing for your tax return

How to get ready to use Coconut to submit your tax return

Written by Adam Goodall
Updated over a week ago

What's the "Rent a Room" Scheme?

Information about the tax free allowance if you rent a room in your home.

Written by Adam Goodall
Updated over a week ago

How is personal tax calculated?

As a sole trader, you'll calculate your Income Tax and National Insurance owed each year

Written by Adam Goodall
Updated over a week ago

How do I pay my tax bill to HMRC?

Pay by bank transfer, Direct Debit or card.

Written by Adam Goodall
Updated over a week ago

What's the £1000 trading allowance?

If your expenses are less than £1k for the year, you can use this allowance instead.

Written by Adam Goodall
Updated over a week ago

Limited Company Tax

How does the limited company corporation tax estimate work?

It's based on your income and allowable expenses for your financial year.

Written by Adam Goodall
Updated over a week ago