Tax Return / Self assessment 2021-2022 (6.4.21 to 5.4.22) HMRC deadline 31st january

With only a few working days left. This is an important reminder that if you have not already had your 2021-22 personal tax return done. All 21/22 tax returns (self assessments) need to be calculated & submitted to HMRC before the 31st January 2023 and any tax payable for the year to be paid by that date also. And we recommend this is urgently done and you contact us today. If you had it done or do not need it then ignore this reminder.

As per last year HMRC is saving money & will not send postal reminders. They now choose instead to collect money through letters of fines for missed deadlines saying 'all tax payers should be aware of the self assessment deadline, and not expect HMRC to remind them'.

With fines starting at £100 rising to £1300 plus interest for late filing and payment even if you had no tax to pay, there really is no excuse to not have it done as soon as possible so get in touch today and ensure its calculated and declared by professional tax accountant, someone who will make sure to look after your best financial interests while freeing you up to concentrate on the things your love.

To complete the 2021/2022 self assessment you will need the following information:

1. Your bank statements from 6/4/21 to 5/4/22
2. All P60, P45's, P11d's from all employers in (from 6/4/21 to 5/4/22) ie for the year ended 5/4/22
3. All income invoices / statements etc from 6/4/21 to 5/4/22
4. All expenses receipts / statements etc from 6/4/21 to 5/4/22
5. Your personal bookkeeping information (if you are doing this already)
6. Details of any interest income, shares sale / dividend income, rental property income, overseas income, capital gains, inheritance and or any other source of income arising in the UK or overseas that needs to be reported to HMRC
7. If you and your partner receive child benefit then the maximum household threshold is £50k, so many clients may have to pay some of this back and the info needs to be legally declared on the tax return.
   

By Anni Khan at Tax Affinity Accountants

Tax Affinity Accountants are experts Business, Tax and Accountancy. With branches in Worcester Park and Kingston upon Thames and Epsom and Ewell they are considered in the Industry to be expert business accountants and tax advisors for both individuals and small & medium sized businesses (SME's). Helping and supporting both individuals and limited company owners / self employed people throughout the UK and the world, they regularly help clients grow their business providing tailored advice and support. Their support has been considered invaluable by many clients and key to their success.

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