Latest news with #VickyParry
Daily Mirror
7 days ago
- Business
- Daily Mirror
UK heatwave - how to save money when the temperature rises including cheap fans
MoneyMagpie Editor and financial expert Vicky Parry shares tips to keep cool in the summer heat without breaking the bank Summer is well on its way and with that comes our annual non-preparedness for heatwaves in Britain. The good news is that there are things you can do to make sure you keep cool for cheap or free when the heat is on, as long as you act now to plan for the hottest days of the year ahead. Buy fans now There's nothing worse than realising your years-old dusty fan has finally given up the ghost, when it's 30C outside. Not only because it's broken when you need it, but buying a replacement will be expensive. Shops and online retailers are notorious for ramping up prices for anything in seasonal demand. Check your cooling equipment now. If you have a fan or two, or even an air conditioning unit, make sure it's in full working order and remains efficient. For those who remember struggling last year with a single fan between the entire family, now is the time to buy a new one (or two). Fans are one of the most cost-efficient ways to stay cool, costing around 2 to 8 pence an hour to run. To be even more economical, look for fans with timers and eco settings that mean they only switch on when the temperature hits above a certain temperature. This makes them ideal for sleeping at night, too. Tower fans tend to be better for dispersing cool air across a room, while pedestal fans are more direct and ideal for sitting at a desk or on your sofa. Some, like the Levoit Quiet Pedestal Fan, have a mode with both vertical and horizontal movement, for broad and rapid cooling like a tower fan as well. Get the best deals and tips from Mirror Money Close windows and curtains When the sun is shining, we want to let the light in! But in fact, this can heat your home by several degrees. Keep your house cool by only having the windows open at night, with gaps in the drawn curtains to allow air to circulate. When morning comes, make it a priority to close your windows and curtains to keep the sunlight and warm air out. To cool a stuffy house quickly, as the temperature outside begins to drop in the evening, open the windows on your top floor on one side of your house and the ground floor on the opposite side. This creates a natural ventilation as warm air rises, pulling cooler air through the home. Use a hand fan Whether you're stuck on the Tube or in a stuffy office, finding ways to control your personal temperature when you don't have control over your environment is important. You can start by getting into the habit of always taking a thermal bottle of water with you when you're going out – even better if you drop some ice cubes in it. Keeping hydrated will help your body manage the heat. A handheld fan is another gadget that you should have with you at all times. You can go old-school with a manual fan that folds into any bag – perfect if you don't want to worry about batteries running out. You should also look into getting a small travel-sized fan to keep you cool. One with a clip can be handy for clipping onto prams, desks, and other surfaces, while there are others that can be popped into a bag and used in the park, on a desk, or almost anywhere like the Air Flex Portable fan by Morphy Richards. Reduce heat in a single room If the heat rises when you're at home, try to plan ahead for the day. Choose your favourite room and make that Cool Central. Much like in winter, when it is cheaper to heat a single room than an entire house, the same goes for cooling. You might choose to invest in a portable air conditioning unit to reduce the air temperature in the room. They aren't cheap, but can be efficient to run and are a worthy investment if you spend more hours at home than away from it. Alternatively, make sure your curtains and windows remain closed, set up a fan, and keep the air circulating. Some people find it best to keep a door open with a fan in the hallway as well as in the room to create a ventilation system, but you'll have to experiment with the best setup for your house. Use cooling mats You might have seen cooling mats for pets, but they're just as useful for humans, too! There are two types: ones you put in the freezer and self-cooling ones that activate on pressure. The freezer ones are significantly cooler to the touch, but take energy to freeze and get quite damp. The self-cooling ones don't get damp and can reduce your temperature by a degree or two. Don't forget your pets While we're talking about pets, make sure they stay cool, too! Keep animals indoors wherever possible, and remember that if it's too hot for you to be barefoot then it's too hot for them, so don't walk dogs in peak sunshine hours. You can invest in ice bowls, which have a liquid inside that freezes to keep your pets' water cool through the day. You can also fill a bowl with water, pet treats, and even their favourite toy to freeze and provide them to lick through the day to remain cool. If you're giving your pet frozen items, make sure you give it a few minutes from the freezer to avoid giving them brain freeze or tongue burn. Dunk your feet Keeping your feet in water while you're relaxing at home is one of the most cooling things you can do in a heatwave. Even better if you can pop some ice cubes in the water, too! If you're at work and not able to lounge with your feet in a paddling pool or bowl, make sure you regularly run your hands and wrists under cold water to bring your temperature down. You can also use a wet bandanna around your neck to keep yourself cool. Hide in the cinema The cinema is one of the few places you can guarantee will be air conditioned during the summer and thanks to all kinds of cinema ticket deals available throughout the week, it's a cheap way to stay entertained when the heat rises! Look for other activities that can keep the heat down too, such as swimming, finding a spot in an air conditioned coffee shop, or wandering your local free (air conditioned) museum. Some of the brands and websites we mention may be, or may have been, a partner of However, we only ever mention brands we believe in and trust, so it never influences who we prioritise and link to.
Daily Mirror
7 days ago
- Business
- Daily Mirror
All the sneaky ways you can be overcharged or hit with surprise bills
MoneyMagpie Editor and financial expert Vicky Parry shares her checklist to get on top of your life administration and make sure you don't end up overpaying for things Forgotten trials, insurance auto-renews, and out-of-date documents: these can all cost you thousands over a lifetime. This is especially true if you don't keep a regular household budget of expenses, as it can be easy to miss things that aren't part of your weekly spending. Use this checklist to get on top of your life administration and make sure you don't end up overpaying for things simply because you forgot! Check your subscriptions This one can save you a lot of cash for just a couple of hours' work. Go through your PayPal, credit cards, and bank statements for the last year. Write down anything that is a repeat subscription and how much it costs. You need to go back through the last 12 months of statements to make sure you don't miss things that are billed annually! Now, take stock of the list. Do you use the subscriptions? If you use something regularly but pay monthly, switching to an annual plan could save you cash. But if you signed up to something a while ago but you don't use it enough – cancel it. Update your address Missing important letters is easy when you move house. Set up Royal Mail Redirect for a year when you move, to ensure you don't miss anything. But make sure you update your address on everything in a timely manner, too. This includes on your car V5 (which could land you a £1,000 fine if you forget), your bank and credit cards, PayPal and other payment platforms, and the electoral roll. Even if you move within the same local authority and you've updated your address with the council, make sure you also update the electoral roll ASAP as it can impact your credit score. Renew your driving licence You need to renew a photocard driving licence every ten years. It's easy to do online and costs £14. When you're aged 70 years old and above, this renewal rate changes to every three years. If you drive without a valid licence, you face a fine up to £1000. But if you drive without a licence and cause an accident, you could be prosecuted as well as fined. Apply for your Blue Badge renewal Blue Badges are provided for a limited time, and it can be easy to forget to reapply before it runs out. However, using an out-of-date badge could land you a hefty fine up to £1000. If you don't need it anymore, you need to return it to your local council, too. Blue Badges are issued by your local authority, so check your local council's website to find out how to renew in time. Sign up for MOT reminders If you drive without a valid MOT, you're facing a fine of £1000 – rising to £2500 if your car is deemed 'dangerous' based on an MOT check. The handy thing you can do is sign up for an MOT reminder. You'll get a reminder one month before your MOT is due, which gives you enough time for the maintenance and checks to ensure it passes and time to arrange your MOT before it runs out. Update your passport If you're travelling abroad and your passport has less than six months' validity on it, you could be refused entry. This could waste your entire expenditure on your holiday, as insurance and booking refund policies will not cover errors that could be avoided, such as not having a valid passport. Renew your passport online for the fastest and cheapest service. You don't need to update your passport immediately if you've changed your name, such as when you get married. All you need to do is make sure your tickets are booked in the name in your passport. However, unexpired visas in your passport may become invalid if you change your name which could cost you a lot in fines and fees. Turn off insurance auto-renew Your car, home, and contents insurance probably have auto-renew set to 'on' as standard. This means when your annual policy ends, you could have a price hike in your policy that is automatically deducted from your bank account. Turn off auto-renew now. Set reminders in your calendar a few weeks before the policy ends, and use a comparison service to find a better quote. If you like your provider, you can take a cheaper like-for-like quote to them when it's time to renew and ask them to better (or match) it. Switch bank accounts If you haven't moved your savings around in recent years, or looked at what your current account includes for a fee, you're not making your money work hard enough for you. Many savings accounts have a great introductory interest rate, which then drops after the first year. You're missing out on free money by not keeping track of the end of these offer rates! Shop around for better savings rates on a regular basis to ensure your money is growing as fast as it can. When it comes to current accounts, if you have a fee for yours, make sure you're getting the best rate. Packaged current accounts that cost a monthly fee can often include benefits you don't use, such as travel or contents insurance cover. Assess your pension funds Many of us just keep the workplace pension fund our employer chooses to pay into. But just because it's convenient for your employer doesn't mean it's the best place for your money. Do not opt out of your workplace pension! Instead, shop around to find a pension provider that suits your goals and needs. You can regularly transfer funds from your workplace account into your chosen fund, to make sure you're not missing out on employer contributions while also putting your money where it aligns best with your goals. Check your credit report Not checking your credit report could cost you thousands if there is fraudulent activity you haven't spotted. People can open lines of credit in your name, and untangling the fallout from that can be costly and time-consuming. Even if there is no fraudulent activity, you could be accidentally missing out on better interest rates for credit, or not be able to even get it, because of a mistake on your report. This can sometimes happen if a default or non-payment is recorded when you did pay on time, or when a previously financially linked person's account still shows. Or, when an account you thought was closed is still reported as being open. You can add corrections to your report to make sure you're not losing out on credit or borrowing because of them. Check your credit report with all three providers at Equifax, TransUnion (Credit Karma), and Experian. It's free to do so and easy to check errors. It's important to check all three because they each hold slightly different information, so there could be a mistake on one that doesn't show on the others. Some of the brands and websites we mention may be, or may have been, a partner of However, we only ever mention brands we believe in and trust, so it never influences who we prioritise and link to.
Daily Mirror
14-06-2025
- Business
- Daily Mirror
15 ways to get free stuff - from kids meals to cinema tickets
MoneyMagpie Editor and financial expert Vicky Parry shares secret hacks and tips to make sure you're getting free stuff and discounts galore Whether you've always got too much month left at the end of your money, or you're financially stable, we all love a good freebie. There's never any shame in grabbing stuff for free – it makes good financial sense to do so! This round-up is full of all the ways you can get free cash and free stuff to live a richer life without breaking the bank. Free kids meals A lot of franchises run special deals to help families save on their food spending. Many run Kids Eat Free deals year-round, while others will opt for special offers during school holidays. For example, kids can get a free meal including a snack and drink at Morrisons cafes, with every adult meal purchased, and a similar deal runs at Dunelm Pausa cafes, too. At Beefeater and Brewers Fayre venues, two kids can eat unlimited breakfast free with the purchase of one adult breakfast. While these deals require the purchase of adult meals, it is a significant saving compared to paying full price for everyone at the table! Free sweet treats If you're happy to sign up to apps and newsletters, you can claim sweet treats from all kinds of places! Choose a free Minibon at Cinnabon in the Birmingham Bullring, a free doughnut for using the Krispy Kreme app, or a free soft swirl sundae through the Creams Café app. Or, sign up to the free myWaitrose loyalty scheme to claim a free hot drink every day – including hot chocolate. It's not just takeaway food, either. Check out free samples from retailers to test their products – for example, get three sample packs of Cocoa Canopy Hot Chocolate to test each flavour before you buy. Pay just for postage if you only want the samples, or add to your order for free. Stackable discount codes Some discount sites and cards require you to pay a monthly fee to access the best deals. While this can still work out cost-effective, they often only provide discounts that can't be stacked with other promotions. The Network range of discount websites are completely free loyalty discount schemes for key workers which allow stackable discounts. Their range of sites include Teachers and Education Staff, Carers (including unpaid carers such as those with dependent family members), Health Workers, and Charity Workers. Unlike some other schemes which require a payment to sign up, these are free – and have a broad eligibility. Free gym pass Most gyms offer a free day or even week-long pass to let you try out their facilities before you sign up. If there are several gyms in your area, this means you can claim lots of free workouts! Simply check online for free gym passes near you, and also on your local gym's website for any offers. If you prefer to work out at home, there are loads of ways to work out for free lessons. Check YouTube for tutorials in almost any home workout style, or look for free trials on specific fitness apps like Apple Fitness. Free online learning For people who want to learn a new skill, there are hundreds of ways to learn for free online. For example, the Open University runs a number of free online courses to get you started. If you live in England, you can even get fully paid Level 2 courses to change career, in a wide range of subjects, like a Certificate in Business Administration, Counselling Skills, or Coding. Free swimming lessons for kids Most local authorities offer free swimming lessons for children, both in term-time and during school holidays. Check your local council's website to find out about free swimming lessons in your area. Free kids sports lessons For more free sports lessons for kids, try the Barclays and Lawn Tennis Association partnership for free tennis days across the UK, all year around. Or, if your child is more of a footie fan, get them involved in free 5-11 year old footie sessions with McDonald's Fun Football scheme, running until July 27. Free cash for surveys Participating in surveys can earn you free cash and vouchers. It's not guaranteed income, and the amount you can earn is fairly small per survey usually. However, they usually only take a few minutes each time and can add up over the course of a few months. Try websites like Toluna and Swagbucks to find a reputable survey company that pays free cash. Free birthday treats Make the most of your birthday month with free birthday treats! From free cocktails at Revolution to free birthday cake at Costa, there are loads of ways to make your birthday pay for itself with freebies. The best way to get offers is to include your date of birth when registering for apps, as they'll often automatically send you birthday freebies and discounts when it's time for you to claim. Free audiobooks The audiobook industry is booming – but subscriptions to Audible and other services can be expensive. Make the most of free trials before you think about paying! You can get 75 days/40 hours' free listening with BookBeat, for example, or check out Librivox for free volunteer-voiced public domain books. Remember, too, that your local library will have audiobooks as well! Free books and eBooks While we're talking about the library, it's one of the first stops you should go on for free books and free ebooks. Even if they don't have the book you're after, you can request it for free for them to order in. The great thing about libraries is that authors get a (very small) royalty every time you borrow their audiobook, ebook, or physical book – so even though it doesn't cost you anything, you're still supporting the writers to keep writing. There are plenty of places to find free ebooks online, but make sure they're legitimate as pirated ebooks can be at best, illegal, and at worst corrupt your devices or open the door for hackers and fraudsters. Free cinema tickets If you're an avid cinema-goer, check out the membership options at your local venue. For example, a Picturehouse Membership can include up to 10 tickets as well as free tickets to special events. For the more occasional cinema trip, look for deals with other providers. For example, Sky customers can claim a pair of free Odeon tickets every month with their app. Look online for cinema ticket deals to get free and discounted offers any day of the week. Six months' free Amazon Prime Students who don't yet have Amazon Prime can claim a whopping six months' free – that includes Prime Music, Prime TV and Prime Reading as well as Prime Delivery. Simply select Student when you sign up – you'll need an email address ending . or proof of your enrolment to qualify. Free furniture If you need to furnish you home on the cheap, make sure you check out local marketplaces for free furniture. You will be amazed at what you can pick up! Try websites like Freecycle and Facebook Marketplace to find deals in your area. Food waste is a huge problem, which is why apps like Too Good to Go and Olio were invented. Find reduced items going for free at supermarkets and restaurants with Too Good To Go, as they're about to be or are out of date. Olio is a great app for swapping or sharing food in your community – you'll often find people giving away the 'free' part of a 'buy one get one free' deal, for example. Some of the brands and websites we mention may be, or may have been, a partner of However, we only ever mention brands we believe in and trust, so it never influences who we prioritise and link to.
Daily Mirror
08-06-2025
- Entertainment
- Daily Mirror
Father's Day - How to spoil dad on a budget from great gifts to fun days out
MoneyMagpie Editor and financial expert Vicky Parry shares some favourite Father's Day gift ideas for your father figure on June 15 Father's Day is on June 15 this year, so there's still time to get your father figure a gift they'll love! Whether you want to get a classic foodie gift or something a little more unusual, check out our handpicked gifts and days out ideas for something he'll love. Days out and spending time together Spending time with your dad or father figure is the most valuable gift you can give them. Consider getting nostalgic with fun toys. The Build Your Own Pinball Kit is easy to build, providing ongoing fun for adults and kids alike for a great value £22.99. Or, build a LEGO kit, with prices ranging from £22.99 you'll find a fun kit to do together whatever your budget. If you've got young children or grandchildren, spend the day with dad at a RaverTots day for a fun, safe, family-friendly festival style event. For older children, check out the Skiddle website for a wide range of days out with your dad. Or, you could treat your dad or father figure to a little bit of luxury with an afternoon tea. Book at Mariage Frères in Covent Garden for a luxury tea experience before picking up some loose leaf tea to take home and continue the memories every time he takes a sip. Got a sports-mad Dad? Whether you're already into sailing, or you want to go to a dynamic new event together, the Emirates Great Britain Sail Grand Prix is a huge event (with Pete Tong and Tom Grennan headlining the Après-Sail) that is guaranteed to make memories together that last forever. For the foodie If your dad loves to sneak a sweet treat, why not treat him to some Divine Chocolate from just £9.99 for a gift bundle. Ethical chocolate that tastes delicious? Everyone wins! For something a little unusual but still chocolatey, try the Fatso Home Run Chocolate Bundle instead, a selection made with single-origin Colombian dark chocolate. For those with a hot tooth rather than a sweet one, try a hot sauce set like Chilli No. 5, or for the home chef treat them to luxury Oro Balien Olive Oil. You could even put together a hamper of their favourite things, like PapaLife Peanut Butter, some delicious jams and chutneys, and of course the 1.3kg Ultimate Sausage Roll baked in Malton by The Original Baker for Prestige Hampers. If you're not sure what to put into a hamper for Father's Day, check out Bloom and Wild's Luxe Father's Day hamper filled with yummy treats. If your father figure loves to spend time in the kitchen cooking for the ones he loves, treat him to a delivery from Clonakilty (or cook him a delicious breakfast yourself!). You could also consider a set of new knives like the Stellar James Martin Knife Block. If he prefers outdoor cooking, check out the Jamie Oliver Pizza Oven which can be used indoors and outdoors, or treat him to a BBQ Tool Set from Rex London to help him make delicious barbeque dishes all summer long. Drinks that stand out Try something a little different than a six-pack of their favourite beer or a bottle of Jack Daniels – opt for one of the growing trend of non-alcoholic spirits instead. The Pathfinder is a hemp-based drink that tastes like many traditional alcoholic beverages without the percentage – it's perfect for making summer cocktails with a twist! For the hot drink lover, treat your father figure to some luxury Tambia coffee and throw in some delicious truffles or biscuits to make it a truly enjoyable moment. For those who like to be adventurous with their tea, Bird and Blend have a number of flavours your dad might enjoy, such as ' Whisktea', a malty-tasting rooibos based-tea with vanilla and burnt caramel notes. For those that prefer to make their own barista-level drinks at home, consider an eco- and wallet-friendly Tassimo Finesse coffee pod machine (currently on sale for just £39.99). For the techie dad If your dad likes to wind down with his PS5 or Xbox after a long day at the desk for work, his eyes might need a little helping hand. Gift him the TheraTears Screen Eyes to help reduce eye strain, and consider giving along with a cooling gel eye mask to make sure he looks after his vision and reduces tension headaches. If he needs a bigger screen for his gaming activity, or likes to wind down with a movie on the sofa in the evening after a long day, treat him to a 43' Sharp UHD TiVo Smart TV (currently on sale at £199). Or you can go even bigger with the Dangbei Freedo portable projector, which can give a viewing screen up to a whopping 4.5m (15 feet), perfect for family film nights together. For the father who loves music or is obsessed with audiobooks, try some headphones so he can listen in comfort. For all-day listening, Panasonic's Technics AZ100 deliver a long-lasting battery with comfortable earbuds, while OpenRock X's bone conduction headphones are perfect for active dads who like to listen while they work out. For a budget option that still lasts and looks great, Flying Tiger's earbuds are just £20. Ongoing subscription gifts For the low-tech dad who likes some time to himself, why not get him the gift of a digital subscription? You could choose something you know he already uses, or a new service to get him to try a new hobby. Avid readers would enjoy a gift card to Readly (make sure to sign him up to the free trial to get two free months first!), Kindle Unlimited, or Kobo Plus. Those who prefer audiobooks would enjoy a BookBeat or Audible subscription or gift card, while the music lovers will always appreciate a Spotify gift card. You could also opt for a recurring delivery subscription, such as a local groceries box or Oato subscription, a beer box, or even a meat hamper. If food and drink doesn't quite fit, what about regular deliveries of pants and socks? There are so many subscription services around, have a good search for one you know your dad would love! For sporty dads Whether he is an active person or just likes to wear the kit, Castore has a wide range of fitness and athleisure wear including an entire range for golfing outfits, with items starting from £20 for accessories. For the adventurous, Helly Hanson is always a good bet. Choose from specific adventure gear, merino-base t-shirts, or the perfect everywhere windproof overhead jacket for the typical British summer wherever he is! If he's into wild swimming, surfing, or camping, a Vivida All Weather Changing Robe will keep him warm and dry (and provide modesty for getting changed in public). If he needs a bag for activities like hiking, try the Highlander Ben Nevis 52L backpack. But if he just needs to have somewhere to store his essentials on a quick trip to the gym, try a one-two combo with Gomatic's sling bag and phone wallet, both slimline and convenient. For the dads who like to look sporty wherever they go, opt for a timepiece like the Grant Watch from Fossil or – if your budget can stretch – a smartwatch like an Apple or Galaxy watch to keep track of his fitness every day. Gifts for the home and garden If your dad's a bit of a home bod, get him something that'll make him super comfy and enjoy his favourite space even more. Whether that's a Simba hybrid duvet, or a fun personalised cushion from Etsy, find something that will help him relax in his chill-out space at home. If he can't sleep without a cooling fan, try the silent tower fan from Levoit – or the portable Morphy Richards 6' travel fan if he gets overheated on the go. Candles are always a good bet – and you can rely on Yankee Candle to last a long time and smell great. Bayside Cedar is a refreshing yet masculine scent while Midnight Jasmine is light and summery, proving there's a scent for every kind of dad. For new dads facing their first Father's Day, consider getting something that is useful for the baby as a way to show your appreciation for the hard work a newborn can be. Opt for practical items, like the Avery Wildflower Large Quilted Basket or a cute hooded towel, or a gift card to Blade & Rose for him to pick outfits out for the little one. For the green-fingered father, choose some new gardening tools like a pruning knife for bushes, a folding knife for larger branches, or give him a One4All Home and Garden Favourites gift card to let him choose what he needs. If your dad likes to sit in his garden more than work in it, encourage some birdwatching with the PeckPerk smart bird feeder camera – which automatically identifies the type of bird visiting the feeder.
Daily Mirror
07-06-2025
- Business
- Daily Mirror
Tax warning issued to freelancers ahead of shake-up next year
MoneyMagpie Editor and financial expert Vicky Parry warns self-employed workers and freelancers about the pitfalls of ignoring Making Tax Digital changes Making Tax Digital (MTD) has been slow to roll out, but it's nearing the end. And most freelancers and self-employed people have no idea what that means for them. This guide helps you understand what you need to know to avoid huge fines from HMRC. What is Making Tax Digital for income tax? HMRC reporting systems are outdated and unwieldy. Making Tax Digital is supposed to cut through the archaic system to help companies and freelancers manage their taxes more easily and accurately. The scheme has already rolled out for companies and sole traders registered for VAT. Making Tax Digital for Income Tax is the next stage in a years-long roll out of the new system. Rather than annual reporting with a deadline nine months after the end of the previous tax year, which is the current Self Assessment system, people will be required to submit quarterly assessments and the final, fifth, full report. The system is supposed to help freelancers and sole traders budget their taxes better. However, it does also add administrative burden to companies and freelance workers – and there is a requirement to use third-party software to submit, too. Who does it impact? By April 2028, all self-employed traders who earn over £20,000 a year will be part of MTD Income Tax. This will be rolled out in stages. For those earning above £50,000 a year, they will need to be registered for and using MTD for April 2026 – the next tax year from the one we're currently in. That means there are only ten months to get everything set up. Those earning £30,000 or above will need to comply by April 2027, and those earning £20,000 will be part of the scheme by April 2028. Landlords: You need to register too If you earn above the threshold amounts for any roll-out year of MTF for Income Tax from property rental income, you will need to register. If your property income is through the Rent a Room scheme, you won't need to register (unless your combined self-employed income also takes you over the threshold). You can ensure the tax-free portion of Rent a Room is managed on your final end of year full tax return. MTD for income tax exemptions There are some situations where you could be exempt from MTD for Income Tax. The first is if you know you will only use simplified expenses . Other exemptions include where HMRC cannot provide a digital service due to remote location, or a person cannot use a digital service due to age, disability, or location (i.e., it is too remote). You also do not need to register if you are under an insolvency procedure or your business is solely run by people of a religious order where electronic communication does not comply with religious beliefs. You may also withdraw from MTD for Income Tax if your business has received under the threshold income for three consecutive years, or your business is in a winding down procedure. Check the details of these and further possible exemptions on the Making Tax Digital Government pages . Self assessment and payments on account You will still need to complete an annual Self Assessment as well as file your quarterly reports. The Self Assessment is more detailed and will enable you to adjust for non-business income and other details. You're not penalised for adjustments between quarterly reports and your final Self Assessment. Payments on Account will still apply, too. This is where, if your tax bill is over £1000 for the year, you will need to pay the full tax bill plus 50% by January 31st, and the remaining 50% in July. PoA is supposed to estimate a regular annual income, so if you have an exceptional year – such as receiving an unusually large contract – you can apply to reduce these payments. However, if you apply to reduce the payment and then do manage to earn similar in the following tax year, interest can be applied on the difference in payments. Penalty points for late filing Late filing will still come with penalties, as with the usual Self Assessment process. However, in the trial years if you signed up to test the system early filing penalties will not apply. There is a new points-based penalty system for MTD Income Tax. You will not pay a fine for the first late filing, but cumulative errors will apply over ongoing tax years. Points will be applied for each late filing of quarterly and final reports, with a maximum fine of £200 for 4 points. The points will only reset when all filings are met to current dates. Points will expire after two years if you do not meet the threshold of 4 points. Penalties for late payments will also be changing under the new system. If you pay within 15 days of the due date, there is no fine. Within 16-30 days inclusive, the fine is 3% of the tax outstanding on the 15th day, and over 30 days the fine is 3% of the tax on the 15th day, plus 3% of the tax on the 30th day, and an extra 10% per annum charge until the payment is made. Interest will also be accrued daily. Standard fines for not maintaining accurate records, or for broken links in compatible software, will result in fines up to £3000. Choosing a third party software One of the rules of MTD for Income Tax is the use of third-party approved software. You can check which software is approved by HMRC here . You will need this software for your records even if you have an accountant filing on your behalf. While you can still keep spreadsheet records for your business, your filing must be done via one of these software platforms. Many business bank accounts now offer free access to integrated approved software, which could reduce the financial burden of your quarterly returns as well as make them faster as the software will have real-time information about your income and expenses. Sign up to free HMRC webinars While not widely advertised, HMRC does have some resources for freelancers and self-employed workers on their website. This includes a section about Making Tax Digital for Income Tax, including a recorded webinar or the ability to register for the next live webinar. It is strongly advised that freelancers, sole traders, and self-employed workers register for email updates from HMRC about Making Tax Digital, in case changes are implemented as the scheme rolls out through the trial phase. Some of the brands and websites we mention may be, or may have been, a partner of However, we only ever mention brands we believe in and trust, so it never influences who we prioritise and link to
