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.
HMRC has published a list of the strangest excuses for taxpayers not submitting their self-assessment tax returns on time. Remember, the deadline for filing is midnight on 31st January 2019.
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 2019 Loan Charge is another effort by HMRC to recover taxes it deems to be owed by thousands of people who have used disguised remuneration schemes since 1999. Read about the 2019 Loan Charge, its implications and your potential options if you are affected*.
Umbrella companies are one of the most popular payroll services for freelancers and contractors in the United Kingdom. However, with so many unethical organisations encouraging tax avoidance and promoting 90 percent pay retention, how much should you realistically take home after the appropriate deductions have been made to your pay?
The deadline for filing self-assessment tax returns for the 2016/17 tax year was midnight on 31st January 2018. Any personal tax payments due also needed to be paid by this deadline. Have you still not filed your return or paid your self-assessment tax bill?
HM Revenue and Customs (HMRC) reported that a record-breaking 10.7 million filed their 2016/17 self-assessments before the midnight 31st January deadline. Were you one of the 6.5% who missed the deadline?
Are you receiving tax credits, such as the Child Tax Credit or the Working Tax Credit? Did you, or do you need to, complete a 2016/17 Self-Assessment Tax Return? you may need to report your final income details to the Tax Credits Office.
Self-assessment tax returns, otherwise known as Personal Tax Returns, declare your personal earnings outside of the Pay As You Earn (PAYE) system. It indicates the amount of tax you owe to HMRC or the tax refund you may be entitled to.
The annual responsibility of filing your Self-Assessment has come around again and the deadline for your online submission is fast approaching. All assessments must be submitted by 31st January 2015 in order to avoid the late submission fine of £100.
