FAQs
Whatever your question, you can trust in Penny Ledger to have the answers. With top tips, helpful advice, and solutions you can rely on, we’ve made sure we’re the experts so you don’t have to be.
Penny Ledger is an affordable digital service that provides professional help with your personal tax needs, backed by years of experience and expert financial knowledge from our team of accredited accountants.
Small business owners, sole traders, freelancers, side hustlers – we’re here to help!
Our service is designed for self-employed people with a yearly turnover under £90,000 who want to manage their taxes without the hassle.
We can also help if you’re employed, earning over £150,000 and need to file your own Tax Return.
Penny Ledger is part of the Supreme PLC group.
We’re built on solid foundations with decades of expertise and proven success.
That’s right – one flat fee of £149 covers you for the entire financial year.
No subscriptions, no extra charges. Just simple and fuss-free taxes.
Well firstly, you don’t have to file your own Tax Return.
That’s a pretty big one, right?
Whether you’re new to self-employment and don’t have the financial know-how, or simply don’t have the time to dedicate to your taxes, we’re here to help.
Penny Ledger makes sorting your taxes efficient, convenient, and affordable.
For customer support, we’re open from 0830-1630, Monday to Friday. We are closed on weekends and Bank Holidays.
Our friendly support team are always happy to answer your queries. So if you have any questions, please contact us via one of the options below between our opening hours of 0830-1630 (Mon-Fri):
Phone: 01254 504 500
Email: support@pennyledger.co.uk
Live Chat
Please note that our customer support team cannot provide you with financial advice. Any questions of this kind will be directed to our accredited accountants and someone from the team will get back to you as soon as possible.
Before you can make a start on your tax return, you need to create an account. You can do that by clicking here
To log in to your account, click here. You’ll need to use the email address and password you set when you first created your account.
If you’ve created an account but can’t remember your password, you can reset it here. Just click ‘Forgot password’.
Before you do anything you need to sign up and create an account.
Use your most up-to-date email address to keep your account secure and make sure you receive everything you need from us.
Once you’re finished, we’ll send you a unique 4-digit code that helps to verify all of your details are correct – enter your verification code on the login page, and you’re ready to go. (Don’t worry, you won’t need to do this again – once you’re verified, we’ll know it’s you each time you log in).
When you first log in to your account, we’ll ask you to confirm which year(s) you want to submit a tax return for.
Then, so our accountants can accurately prepare your Tax Return, we’ll ask you for some basic information like your employment status and National Insurance number, for example, and a form of Photo ID.
We’ll then take you through a short series of questions to determine your earnings and any additional income, any benefits and expense claims, and upload any documents and receipts you think we’ll need.
And that’s it. Now you can leave it to the experts and get back to business.
Yes!
After you’ve provided us with all of the required information and documents, your digital accountant will send you a summary of what will be submitted.
Once approved by you, your accredited accountant will submit your personal tax return to HMRC for you.
Yes, totally.
We take data protection very seriously and keep all of your financial data safe and secure.
Absolutely.
Your returns will be handled by our team of experienced, accredited tax accountants who know all the ins and outs of HMRC’s rules, giving you the guarantee of accuracy, compliance, and complete peace of mind.
Of course!
Our digital service is tailored for your convenience, meaning you can contact us whenever you need to, wherever you are.
Once matched with your accountant, you’ll be able to reach out with any questions you may have in your private customer dashboard.
Most people in the UK don’t need to worry about filing a tax return, thanks to the Pay As You Earn (PAYE) system, which deducts tax automatically from wages and pensions. However, there are certain situations where submitting a Self Assessment tax return is necessary.
Here are some common scenarios:
Self-Employment: If you’re self-employed and your earnings before expenses exceed £1,000, you’ll need to file a tax return.
Untaxed Income: Have untaxed income over £1,000? This includes money from renting out property, tips, or commissions.
Capital Gains: If you’ve sold assets like shares or a second home and need to pay Capital Gains Tax, a tax return is required.
High Income Child Benefit Charge: Earning over £60,000 and receiving Child Benefit? You’ll need to declare this.
HMRC Notification: Sometimes, HMRC will inform you that you need to submit a tax return.
If you’re earning extra income from a side hustle alongside your main job, it’s important to know how this affects your taxes. In the UK, any additional earnings are considered untaxed income and should be reported to HM Revenue and Customs (HMRC).
However, there’s good news: everyone benefits from a £1,000 tax-free Trading Allowance each tax year. If your side hustle brings in less than £1,000 during this period, you don’t need to inform HMRC or pay tax on that income.
But, if your earnings from your side gig exceed £1,000, you’ll need to register for Self Assessment, file a tax return, and pay any tax due on the amount over the allowance.
Remember, staying on top of your tax obligations ensures you remain compliant and avoid any unexpected surprises down the line.
Self-employed individuals in the UK have to pay Income Tax and National Insurance.
The amount of tax that’s owed is determined by the value of the income generated.
To find out how much you’ll owe and tax you need to pay, you’ll need declare all of your income to HMRC through a self-assessment tax return.
Income from any other sources (e.g. capital gains, investments…) will also be subject to tax.
In the UK, the personal tax year runs from 6th April to 5th April of the following year. For instance, the 2024/25 tax year starts on 6th April 2024 and ends on 5th April 2025. You must file your Self Assessment tax return and pay any tax owed by 31 January 2026 (if filed online).
If you’re filing for the first time, ensure you register for Self Assessment with HMRC by 5th October 2025. This process involves informing HMRC that you’re receiving untaxed income.
Our team of expert accountants are here to make sure you’re never paying more tax than you should be.
With Penny Ledger, you can rest assured that your taxes are filed with accuracy and precision.
Frequently Asked Questions
Penny Ledger is an affordable digital service that provides professional help with your personal tax needs, backed by years of experience and expert financial knowledge from our team of accredited accountants.
Small business owners, sole traders, freelancers, side hustlers – we’re here to help!
Our service is designed for self-employed people with a yearly turnover under £90,000 who want to manage their taxes without the hassle.
We can also help if you’re employed, earning over £150,000 and need to file your own Tax Return.
Absolutely.
Your returns will be handled by our team of experienced, accredited tax accountants who know all the ins and outs of HMRC’s rules, giving you the guarantee of accuracy, compliance, and complete peace of mind.
Before you do anything you need to sign up and create an account.
Use your most up-to-date email address to keep your account secure and make sure you receive everything you need from us.
Once you’re finished, we’ll send you a unique 4-digit code that helps to verify all of your details are correct – enter your verification code on the login page, and you’re ready to go. (Don’t worry, you won’t need to do this again – once you’re verified, we’ll know it’s you each time you log in).
When you first log in to your account, we’ll ask you to confirm which year(s) you want to submit a tax return for.
Then, so our accountants can accurately prepare your Tax Return, we’ll ask you for some basic information like your employment status and National Insurance number, for example, and a form of Photo ID.
We’ll then take you through a short series of questions to determine your earnings and any additional income, any benefits and expense claims, and upload any documents and receipts you think we’ll need.
And that’s it. Now you can leave it to the experts and get back to business.
Yes!
After you’ve provided us with all of the required information and documents, your digital accountant will send you a summary of what will be submitted.
Once approved by you, your accredited accountant will submit your personal tax return to HMRC for you.
Yes, totally.
We take data protection very seriously and keep all of your financial data safe and secure.
That’s right – one flat fee of £149 covers you for the entire financial year.
No subscriptions, no extra charges. Just simple and fuss-free taxes.
