Under 100 days to go until self assessment deadline

WRLO Accountants — Fri, 08 Nov 2024 19:04:24 +0000

HMRC has warned taxpayers that the countdown to the self assessment deadline is now underway, with less than 100 days to go. Self assessment taxpayers must file and pay their self assessment tax return before the 31 January 2025 deadline. The tax authority says more than 12 million people need to file a tax return for the 2023/24 tax year and pay any tax owed by the deadline. Over 3.5 million taxpayers have already beaten the clock and submitted their returns, it adds. HMRC is reminding others that starting their self assessment early means they are more likely to complete an accurate tax return, avoid any last-minute panic plus they will know what they owe sooner and can budget. Myrtle Lloyd, HMRC’s Director General for Customer Services, said: ‘The countdown to the self assessment deadline has begun but there is still time to thoroughly prepare and file an accurate tax return by 31 January. You can access online help and support to help you file.’ Internet link: HMRC press release

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February 2018 news

WRLO Accountants — Tue, 06 Feb 2018 21:36:39 +0000

In this month’s Enews we report on the roll out of Tax-free Childcare and the reduction in HMRC scam texts. We also consider the latest list of deductible subscriptions and rejected Self assessment expenses claims and excuses. With revised income tax bands for Scottish taxpayers there is lots to update you on. HMRC rejected Self Assessment expenses and excuses Tax-free childcare roll out HMRC halts thousands of scam text messages Updated list of professional subscriptions What will the Spring Statement bring? Scotland revise income tax bands HMRC rejected Self Assessment expenses and excuses HMRC have released the latest list of imaginative excuses made by individuals who failed to submit their self assessment return by 31 January deadline in 2017. Excuses include alien sightings and being too busy touring with a one-man play. HMRC’s annual list of outlandish excuses is used to publicise the self assessment deadline of 31 January following the end of the tax year. An automatic £100 penalty applies to those who have the obligation to complete a return and miss the filing deadline, regardless of whether the individual has a tax liability to pay or not. Angela MacDonald, HMRC’s director general of customer services, said: ‘Each year […]

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Under 100 days to go until self assessment deadline

February 2018 news