It’s February again, and many an accountant and tax advisor is heaving a sigh of relief that another self-assessment deadline has passed. The month of January often puts extra pressure on accounting professionals as they endeavour to submit eleventh-hour returns before the end of the month to help their clients avoid penalties and interest on … Continue reading Don’t Put Off Until January What You Can Do In July…
This year HMRC saw the biggest digital Self-Assessment event on record with 8.75 million of a total 10.2 million tax returns filed online by the 31st January deadline. HMRC’s Director General of Personal Tax, Ruth Owen called it “another record-breaking year for Self-Assessment with 210,000 more people filing their returns on time than last year. … Continue reading Biggest Deadline Day On Record!!
Leanne Flanagan, tax senior at Green & Co provides some last-minute tax return advice in an article by Moneywise: “With under a month to go to get your accounts in order, we solve queries about your tax liability if you're self-employed..."
Now that the self-assessment filing deadline is past it is time to turn our thoughts to any tax planning measures which need to be implemented before the end of the fiscal year on 5 April. Here are a few tips worth consideration: PENSION CONTRIBUTIONS If you are an additional rate taxpayer maximising the contributions in … Continue reading Year End Tax Planning