Budget 2020 – What does it mean for the self employed?

The 2020 budget has been long awaited. Delayed due to Brexit shenanigans, scuppered by a general election, complicated by a change of chancellor and then almost entirely wiped out by a global pandemic, this has been a hard one to get across the line. Across the line it is and Rishi Sunak did an admirable job. So what does it all mean for you hard working self employed folk out there? Let’s find out!

Why does the UK tax year start on 6th April?

The UK tax year for self employment and personal tax runs from 6th April to the following 5th April. An unusual set of dates considering most countries run from 1st January. Ever wondered why the UK tax year starts on 6th April? Let me try to explain…