Personal Tax Returns

Preparing your own personal Tax Return is something that a lot of people can and do undertake themselves. HMRC have a system in place that enables you to submit your own return, and software providers such as Quickbooks enable you to submit your return directly from their software.

Whilst this is true, and in some cases advisable if your affairs are straight forward, you would nearly always benefit from our advice and support. We will take care of submitting your Tax Return for you, ensure that we are taking advantage of any further tax reliefs that are applicable and advise you of the relevant tax liabilities and due dates.

You will also be free to ask us any tax related question that you may have throughout the year, giving you peace of mind and taking the stress out of your tax affairs.

When is the deadline for the Self Assessment Tax Return?

Midnight of 31st January - Extended to 28 February 2022.

When do I need to pay my tax?

Midnight of 31st January - Extended to 1 April 2022 for those who pay in full or set up a payment plan although interest is still applicable.

What happens if I miss the deadline for Self Assessment Tax Return?

- There will be a £100 late filing penalty; and

- The longer you take, the more penalties you may incur.

What if I can’t afford my tax bill?

- There may be an opportunity to reduce your tax liability by checking all of the standard items that we would normally include in your return, sometimes there are things that you haven’t thought about!

- If your payments on account are high, but your income in the current year isn’t as high as last year, there may be scope to reduce your payments on account for January and July, which can help you out.

- There is the option of speaking to HMRC to arrange a payment plan as well, these can sometimes be done online and will likely spread your tax bill out over the course of the next 10 or 12 months depending on your circumstances.

Get started today!

Be sure to fill in the form on this page so that we can get started as soon as possible. We will endeavour to help as much as we can but sometimes paying the £100 penalty to make sure that your return is completed correctly might be the best option!

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