As A Freelancer, Do I Need To Make A Second Payment On Account? Pt.2.

For the uninitiated, you may be wondering what a ‘second payment on account’ is. If you’re a freelancer,  sole trader or have any earnings outside of PAYE, you may need to make two advance payments on account towards your current year’s tax bill. Mike Parkes from GoSimpleTax has provided an overview on your responsibilities. How Is The Second Payment On Account Calculated? It’s important to remember that payments on account are based on your earnings from the previous year. This means that, should your income dramatically fall, your payments on account may be reduced to reflect a lower income. You can therefore make a claim to reduce your payments on account. Be careful though: reduce them too much and you can incur an interest charge on any tax shortfall. The opposite applies if your income increases (as this will result in a ‘balancing payment’ on 31 st January of any shortfall from your two payments…

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Movies According To Mischief – Late Night

Late Night Directed by: Nisha Ganatra Cast: Mindy Kaling, Emma Thompson Tough choice this week of films to see, as I’m not into the superhero genre of film that is dominating cinemas at the moment with the Avengers & X-Men franchises. I am sure they are very good, but they would be totally lost on me, and I understand my review would not be fair. Therefore it was a choice between the Secret Life of Pets 2 or Late Night. I’m not sure if it’s me, but I’ve not seen any advertising for Late Night but it seemed like it could be a hidden gem. Now I’m about to admit something controversial so please don’t bombard me with tweets; Emma Thompson is one of the very few people who I see, and I instantly dislike. I don’t know why, it could be that she wrote additional Peter Rabbit stories, which I’m…

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A 1PMChat With Author Michael Gallagher

I love the majority of my characters. Even the annoying ones and villainous ones need to spark a little understanding or sympathy or they risk being cut-outs. Michael Gallagher Octavius Guy, otherwise known as Goosebeery, is about to have his fourth outing as Michael Gallagher's resourceful young detective. However, before becoming the protagonist in Michael's books, Octavius started life with a cameo appearance in what is generally accepted as the first ever detective novel; The Moonstone by Wilkie Collins, first published over 140 years beforehand. Like Octavius, Michael had a life before becoming a full time author and talks to 1PMChat about his time teaching, his interest in photography and, of course, Octavius. 1PM: You say you first met Octavius when you read The Moonstone by Wilkie Collins? MG: Yes, I fell in love with Wilkie Collins’s Octavius Guy, aka Gooseberry, when my Crimes & Thrillers reading group tackled The…

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Movies According To Mischief – Ma

Ma Directed by: Tate Taylor Cast: Octavia Spencer, Diana Silvers, Juliette Lewis Perhaps it was way the trailer was presented, but there was a definite Get Out (2017) feel about thismovie, a thriller which starts out with the best of intentions but soon things start to show they are not what they once seemed. I’m sure we can all relate to being a teenager with a life consumed by high school, relationships, parties and of course, alcohol. This is where we find Maggie (Diana Silvers), who has just moved into a small town with her Mum (Juliette Lewis), starting a new school and making friends with a gang of kids who just want some harmless fun. Unfortunately, being under the legal drinking age, they struggle to find an adult to purchase their alcoholic supplies until they run in to SueAnn (Octavia Spencer), who after some persuasion agrees to assist them. Promising…

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How To Make The 2019/20 Tax Year The Time Of Tax Savings As A Sole Trader Pt.2.

A new tax year is officially underway. With it comes the opportunity for you to ensure that the next 12 months are your most tax-efficient yet. With a number of ways you can reduce your tax bill throughout the year, GoSimpleTax’s Technical Director Mike Parkes details the most effective tips to maximise your tax savings. Claim all allowable expenses and capital allowances Another way you can reduce your annual tax bill is through claiming back expenses. There are a variety of different types, including costs for travelling and business premises. If the latter is your home, then you can claim on those parts of your property which are used for work. You should note that, with all expenses, the amount offset must be solely for business purposes. For example, you won’t be able to claim your entire heating bill as home working. On top of expenses, you can also deduct capital allowances…

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Movies According To Mischief – Rocketman

Rocketman Directed by: Dexter Fletcher Cast: Taron Egerton, Jamie Bell, John Reid This has been a long time coming. I’ve been stupidly excited for this since I saw the trailer as I watched Bohemian Rhapsody (2018), and probably the fact I have tickets to see Elton John in November 2020 also added to this. Plus,  it being Elton John, you know this is not going to be a train wreck, he would simply not allow it. What I didn’t realise the film is described as a musical, which I actually wouldn’t agree with. I think it teeters on the edge of being a musical, but not quite enough bursting-into-song-at-the-drop-of-a-hat content to actually be one. This could be seen as an advantage as I know quite a few people who instantly groan at the very mention of a musical (I’m trying to culture them with Les Misérables etc.. but sometimes you…

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Movies According To Mischief – Pokemon Detective Pikachu

Pokemon Detective Pikachu Directed by: Rob Letterman Cast: Justice Smith, Ryan Reynolds, Lucy Newton, Bill Nighy So, my other half is a tiny bit of a geek, and he wouldn’t mind me describing him as such, thus this led me to having no choice but to go and accompany him to Pokémon Detective Pikachu on the opening weekend. Nothing at all to do with the cinema giving away free Pokémon cards (only for 3D viewings, which unfortunately for him, we were at a 2D viewing. Cue grumpy face). To be honest, it wasn’t much of a hardship to go, as who doesn’t want to see a fantasy world of seriously cute creatures, and I’ve always had a soft spot for Pikachu. However, I did have a sticking point: to me, Ryan Reynolds is Deadpool. End of. So to hear his voice, with a toned down to PG sense of humour…

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How To Make The 2019/20 Tax Year The Time Of Tax Savings As A Sole Trader Pt.1.

A new tax year is officially underway. With it comes the opportunity for you to ensure that the next 12 months are your most tax-efficient yet. With a number of ways you can reduce your tax bill throughout the year, GoSimpleTax’s Technical Director Mike Parkes details the most effective tips to maximise your tax savings. Understand what the tax changes mean for you Each fresh tax year brings changes to how the tax system will work. But, depending on your individual circumstances, not all of these will affect you. For example, if you’re a limited company director, then it’s worth being aware that dividend tax rates remain the same so you won’t be able to further boost your tax efficiency in this way. Or, if you’re now required to submit VAT digitally under MTD for VAT, then you’ll need to ensure you comply with HMRC’s digital path. There are changes…

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Movies According To Mischief – Booksmart

Booksmart Directed by Olivia Wilde Cast: Beanie Fieldstein, Kaitlyn Dever This is a film I can relate to, and I dedicate this movie review to all those people who was a social outcast in high school, who were more interested in trying hard and getting good grades than hanging out with class mate and spending the every weekend partying. Oh, just me then? I didn’t really hit the partying scene until college, but even then it was minimal until I moved into the university life. HELLLOOOOOO NIGHT CLUBBING! *boogie wiggle*. So back to the film… Booksmart is very much a story of two best friends, Class President Molly (Beanie Fieldstein) and Amy (Kaitlyn Dever) who have literally avoided any extracurricular socialising events in an effort to maximise their grades and thus reach their individual goals. But when Molly realises that classmates have also managed to achieve places at top universities…

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