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Tips for Tax: FREE Expert Advice for Self-Employed Success
Date and Time
Tuesday Mar 12, 2024
5:00 PM - 7:00 PM GMTTuesday 12th March 2024
17:00 - 19:00
Doors open at 16:30 for registrations and refreshments.
Location
Redruth Rugby Club, Redruth. TR15 1SY
Fees/Admission
FREE
Website
Description
Join Truro and Penwith College's Multiply Team for an insightful workshop on tax matters featuring special guest speaker Pete Masters, Chartered Accountant at Tolvern Accountants.
We will delve into valuable tax-saving strategies, such as a fixed-rate home allowance and other practical tips, empowering you to implement simple yet effective methods for tax savings.
Learn tax tips and calculations to make your responsibilities as a self-employed individual easier. Pete will offer expert advice and present on various crucial topics such as:- Responsibilities and obligations in tax matters and financial penalties
- Motor expenses and use of home as an office
- Practicing good habits for effective tax management.
- Understanding class 2 and class 4 NICs and payments on account.
- Insight into when to consider trading as a company or partnership or become VAT registered.
- Importance of keeping accurate records and having a separate bank account for the business.
- Exploring the actual role of accountants in self-assessment.
- Demystifying tax language and vocabulary found on self-assessment tax returns, including terms like revenue, capital purchase, depreciation, gross/net, profit, tax allowance, UTR, CIS
- Calculating tax and National Insurance
- Understanding National Insurance and Tax allowances.
- Calculating gross and net pay.
- Calculating profit & loss.
- Effective time management strategies for good book keeping.
Food and refreshments are included as part of this session.
Please contact us at multiply@truro-penwith.ac.uk if you feel you would be unable to attend any of our events due to transport or childcare - we can to offer financial support.
These activities are delivered by Truro & Penwith College and fully funded by the Multiply programme, part of the UK Shared Prosperity Fund (SPF) which is allocated by the UK Government (under the Skills for Life Campaign) to local authorities to help people improve their maths skills.Tell a Friend
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