Did you know last year more than 30,000 people in the UK did their tax return between Christmas Eve and Boxing Day?
As of writing this, there are only 20 working days left until HMRC's self assessment deadline of 31st Jan 2022. Each year millions of people leave their tax return (self assessment) to the last minute and then stress out if they declared the info correctly and if the tax due is correct.
Statistically the number one worry tends to be if their submission may trigger an HMRC investigation into their tax affairs... death and taxes being the fear we suppose.
Plus in the last tax year due to Covid 19 and lockdown's there were many other sources of income e.g. council support grants, SEISS (self employed grants), furlough, bounce back loans, universal credit, tax credits etc. Making tax returns more complicated and resulting with higher taxes due for most tax payers.
If your worried we recommend you get in touch with one of our tax experts. Because we have seen a lot more investigations this year than previous years as HMRC starts it claw back to try to shore up the UK government income and focuses even more on tax avoidance and incorrect information.
So if you have not had your 2020/21 (6.4.20 to 5.4.21) tax return (self assessment) completed then you urgently need to get in touch today as the number of working days are fast decreasing and before you know it the time will be gone and you may end up facing badly caclulated tax return paying more tax than you need to or worse a fine by HMRC for missing the deadline.
Contact us today by clicking this link or calling us on the number above. And share this page with your friends and family.
By Anni Khan at Tax Affinity Accountants
Tax Affinity Accountants are experts in 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 small and medium sized businesses (SME's). Helping and supporting limited company owners and self employed people throughout the UK, 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.
For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.
Our experienced accountants and tax advisers provide valuable insights into practical every day questions and issues.
Add blog to our blog directory.
Ask your own question: If you would like to have a tax related question answered here, please send your question to firstname.lastname@example.org.