It’s bad enough struggling through the problems the pandemic has brought us, and what a welcome relief the self employed support scheme is (to a point), but don’t forget that HMRC still want their slice of pie in the form of your usual annual tax bill!
It’s all very fine taking the grant monies as available, but are you setting aside what you need to pay your tax bill? Surely this is something you are doing anyway isn’t it? If you don’t know what your expected tax bill is, then give your accountant a right royal kick up the proverbial, or if you do it your self then you should know.
Here is the HMRC self employed tax ready reckoner, it’s pretty accurate and gives you a good idea both weekly and monthly of what your expected bill would be. You can avoid some sleepless nights if you stay on top of this!