Filing a tax return can be time-consuming and stressful, and despite HMRC’s best endeavours, taxpayers often delay submitting their tax returns until December/January. Continue reading as we highlight the six reasons you should file your tax return early.
Completing a tax return can be time-consuming and often stressful – especially if you decide to put it off until the last minute. Although it’s tempting to leave it until later in the year, there are many benefits to filing your Personal Tax Return early.
Taxpayers once again broke records in 2020, with over 11.1 million customers filing their self-assessments online by the 31st January deadline. Did you file on time or have you missed the deadline?
The deadline to file your 2018/19 self-assessment is less than 100 days away – HMRC is urging taxpayers to complete and file before the busy Christmas and New Year period arrives.
The new tax year for 2019/20 begins on Saturday, 6th April 2019. There are some key changes you need to be aware of that could affect you as a limited company contractor – including a couple of changes that come into effect on the 1st of April.
Over 93% of those required to file a 2017/18 self-assessment to HMRC did so by 11:59 pm on 31st January. However over 700,000 taxpayers missed the deadline. Here are the latest statistics on self-assessments and what to do if you missed the deadline.
When do you complete your self-assessment? In 2018 over 30,000 taxpayers submitted their self-assessments in the final hour before the deadline on 31st January. Almost 750,000 people missed the deadline altogether. It is advised that you avoid this busy period and complete your self-assessment before Christmas.
The new tax year will once again roll around on 6 April 2018. There are just a few weeks to prepare for incoming tax changes; our blog highlights some key changes for limited company contractors and freelancers.
HMRC is planning to implement a points-based system for those that are late filing their self-assessments (Personal Tax Returns) and other taxes such as VAT Returns. Currently the penalty for late Personal Tax Returns is £100 instantly for filing late up to three months past the 31st January deadline.
If you’re a director of your own limited company or a secondary shareholder of a limited company, you’re required to fill out and submit a Personal Tax Return, aka a self-assessment, to HMRC. Here are some common mistakes made when completing tax returns, and how to avoid them.
