Tips for Tax workshop

A college has joined forces with a Truro-based Chartered Accountants to develop a brand-new, fully-funded ‘Tips for Tax’ workshop that promises to make tax less daunting while offering cost saving and insightful tax management strategies for Cornwall’s sole traders.

Truro and Penwith College and Tolvern Chartered Accountants are inviting Cornwall's self-employed individuals and those considering venturing into self-employment to register for the free Tips for Tax workshop taking place at Redruth Rugby Club on Tuesday 12 March 2024, from 5pm to 7pm.

The workshop features special guest speaker Pete Masters, Chartered Tax Advisor at Tolvern, and promises invaluable insights into tax management strategies while equipping attendees with essential knowledge and practical techniques to effectively navigate the complexities of their business’s tax matters.

Pete Masters, special guest speaker and Chartered Tax Advisor at Tolvern, said: "Tips for Tax is tailored to assist self-employed individuals in effecting positive changes in their tax practices. The goal is to empower attendees with straightforward yet powerful methods to enhance their tax savings and knowledge.”

Participants will gain key insights into tax-saving strategies, covering a spectrum of critical tax topics, including responsibilities and obligations in tax matters, the exploration of which expenses are tax allowable, which flat rate tax allowances may be beneficial to claim and other practical tips. Pete will also decode perplexing tax terminologies commonly found in self-assessment tax returns.

The College’s Multiply team will complement Pete's presentation with engaging Maths activities geared towards reinforcing tax knowledge. These activities will encompass calculating tax and National Insurance, understanding allowances, computing gross and net pay, evaluating profit and loss and adopting effective time management strategies for optimal bookkeeping. 

Angela Powell, Multiply Manager at Truro and Penwith College, said: “For many people, the financial side of going self-employed can be a bit daunting. What happens if you get things wrong? Although there are many online tools to support the self-employed community, Multiply and Tolvern are here to help reduce any worries people have and demystify the Maths behind tax calculations, giving self-employed individuals the confidence to analyse their taxes.”

To secure a spot and learn tax tips and calculations to make your responsibilities as a self-employed individual easier, please book in advance using the following link: www.truro-penwith.ac.uk/event/tips-for-tax/

For further information, please email: [email protected]