Itâ€™s the most wonderful time of the year.
Youâ€™ve continued to put it off and off and off !
Well câ€™mon, letâ€™s sit down and get that tax return done, you have had it long enough and its only manners to get it back by the HMRC 31st January deadline, miss that date and you start paying penalties !
Your Self- Assessment tax return isnâ€™t to be feared, wouldnâ€™t say look forward to it but ask yourself â€œ Do I know what the turnover of my business is?â€ and â€œ Have I recorded all my business expenditureâ€. If you have that information then you are well on the way, itâ€™s that simple folks. My previous blogs have told you what HMRC need from you, weâ€™ve told you to keep those records, all you do now is collate and tell us how the business has performed in the tax year and naturally pay any Tax and Class 4 that may be due.
File online â€“ you know it makes sense, if you donâ€™t know already hereâ€™s some info on how to register for Self-Assessment, obtain your online account and engage online with us; It can take up to a week so donâ€™t leave it until the last moment
Need any help? Got a question? Why not register for a webinar and get answers to those questions that have been on your mind
Check out one of the online tax return webinars running between 8th Jan-31st January or why not see how itâ€™s done with our handy YouTube video
Really straight forward isnâ€™t it?
Being self-employed you may not have to pay HMRC for a while so if you arenâ€™t already using our Ready Reckoner use it from now on, probably the wisest step you will ever make
I have advised in previous blogs of all the support thatâ€™s there for you, take advantage of that support, meet your obligations to HMRC and get back to what really matters â€“ your business.
Hereâ€™s a really interesting fact, 1773 people filed their tax return on Christmas Day, if you were one of them, give yourself a pat on the back but what it does show is that HMRC are here to support you 24/7, 365 days a year so help us help you.
Keep the records, use the support we give and youâ€™ll find the Self-Assessment tax return a straight forward experience and enjoy that sense of achievement, well, what do you expect me to say I work for HMRC.