» Read the full story

If you are self cert then it’s probably about time you should be thinking about your taxes, which are expected at the end of January.

Self-employed or self cert people are expected to pay tax twice per year at the end of January and at the end of July. This can be done online or on paper, but however you do it, you must do it.

Also, if you are fully self-employed, you must contact HM Revenue & Customs for class two National Insurance Contributions, which are not paid with your taxes.

Of course there are those who are both employed and self-employed but will still be self cert. If you are in this category, you will still have to file a tax return as well as having tax deducted at source for your employed income.

Whatever you do, make sure all your paperwork is in order. Make sure you keep all invoices and receipts carefully, as well as any expenses. And it might be tough juggling all your bills and debts right now, but make sure you can cover your taxes. However you think about them, you have to pay.

But if you have the right mortgage, hopefully you have saved enough to pay all your taxes. Doing everything alone – a self cert mortgage, your own taxes, running your own business – might be hard, but the more you make sure you are on top of everything, the more profitable it will be for you.

Keep up with the latest news and comments on Self Employed Mortgages at the Self Cert Mortgage Blog