WellTax Blog

Income tax return – fiscal year deadline

June 4, 2018

The British tax authorities put us in front of an important deadline, the fiscal year deadline on 6th April.

A year of expenses, revenue, dividends, invoices! Moving in time is never a mistake and keeping up with the accounting of your business to be ready in the tax return is just a great way of fulfilling your duties.

It must be taken into account that contingencies are around the corner and moving on time on a regular basis could prove to be the best choice in the future. Especially if we take into account the fact that most taxpayers tend to meet this tax commitment at the last jokes and the speed of response of their accountant may be affected by “clogging” and not spend too much time, in haste, to points difficult with their statement.

So it is always better to keep the accounts sorted by the end of the fiscal year so you can expect the payment of taxes to January 31 of the year after.

Even the forms of self-assessment by yourself may be complicated and therefore it would take more time than expected to ask or seek more information in order to correctly file all the documentation. A clear example is the fact that many taxpayers are not well informed about which costs are deductible and which are not, how to approach a possible insurance, as well as many other details of which only an expert can be aware.

In conclusion, it is better to move in time and deal with your tax duties than to leave everything to chance.



If you need support or advices, feel free to contact us.

W&P Team

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