Today marks the start of the new tax year, so now seems as good a time as any to talk about submitting your self assessment tax return. I know the deadline isn’t until January, but that’s the final deadline, not when you should start thinking about it!
Now I’m not suggesting that you submit by the end of this week, but there are two very good reasons as to why you should start thinking about your return sooner rather than later.
If, however, any of your income throughout the year has come from employment you’ll need to wait until you receive your P60 and P11d (if relevant) before rushing off to submit your return. Your employer has until 31st May to provide your P60 and 6th July for your P11d. While you’re waiting for these I’d advise that you put together as much of your return as possible, so that once you receive the documents from your employer you can simply fill in the blanks. If you’re submitting the return yourself you can save your progress, and come back to it as many times as you need to, before pressing that submit button.
Find the whole thing confusing and stressful? I’d love to speak with you about how I can make the process smooth and pain-free (well, apart from the actual paying the tax part, that is!), why not arrange a no-obligation call?