WellTax Blog

Self assessment – Don’t miss the deadline!

January 22, 2018

It is not a wise choice to leave your tax return filing close to the deadline.

Dealing with your self-assessment ahead of the deadline can prevent unexpected events to happen and can help you organise tax payments in advance. Specifically, if we take into account the fact that most taxpayers tend to comply with their return at the last moment could lead to mistakes and confusion.

If the deadline is missed, you will incur an instant penalty of £100, plus daily penalties of £10 (for a maximum of 90 days) if you do not file by April 30th.

So, no good news, but nothing really disturbing if you can plan everything in advance to avoid any bad consequences.

Meeting deadlines and paying the tax in time is essential to prevent future penalties, in particular when you need a support from your accountant. Complying before the Christmas period would also allow you to become aware of the amount to be paid and make more realistic decisions on any future investments & gain in both short and long-term.

Completing the self-assessment form by yourself may be complicated (For instance when dealing with foreign income and gains) and take longer than expected. In most cases, we would recommend to ask or seek advice in to have your papers and documents in order.

In case you need support and advice, do not hesitate to contact us.

W&P Team

Tags: tax checker, child tax credit, tax credits, tax calculator, hmrc, claim tax back, self assessment online, self assessment tax, income tax rates, self assessment tax return, corporation tax, capital gains tax rate, income tax, vat return, inheritance tax, inland revenue, uk tax, personal tax account, capital gains tax, check my tax, tax office, self employment tax, tax rebate, accountant, register for self assessment, tax, income tax calculator, hmrc self assessment, tax return online, tax online, hmrc tax return, tax refund online, inland revenue tax, business tax, what is a tax return, gift tax, tax return deadline, online tax payment, tax exempt, file tax return online, efilling, tax rebate calculator, personal tax, tax relief, tax avoidance, tax evasion, tax free, california tax, self assessment tax return form, self employed accountant, sole trader tax, self assessment contact, inland revenue uk, tax office uk, tax assistant, tax number, online tax calculator, self assessment tax form, tax claim, self assessment tax calculator, death tax, pay tax, ct600, tax return uk, taxus, gov tax return, self assessment form, taxing, pay self assessment, hm revenue tax return, mytax, property tax, gov self assessment, tax return form, self assessment tax return online, self assessment deadline self employed tax return, tax accountant, tax return online uk, tax deductions, self assessment helpline, tax services,e filing, 2016 tax return, register for self assessment online, taxback, tax return filing, income tax return

 

 

 

 

Related articles

01 December, 2023

UK Autumn Statements 2023: what does it mean for individuals?

27 November, 2023

UK Autumn Statements 2023: what does it mean for businesses?

Search something