Self-assessment tax deadline is looming, are you prepared?!

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I know most of you will already be well prepared and have your tax affairs up-to-date, but just in case there are a few of you who are less than ready, here are a few tips that could save you a last minute panic in January!

• Leaving it too late to get help – If you need help from an accountant don’t leave it too late as they will need to carryout AML (anti-money laundering) and other checks before they can file your return, they will also need your UTR (unique tax reference).
• Have you got your login details? Your account will be locked for 2 hours if you enter the wrong user ID or password 3 times, it can take 7 days for a new password to be sent out.
• Find and remember to enter you Pension Provider details.
• Don’t forget as well as the filing deadline you must pay the tax you owe by the 31st January, HMRC fine for late payments!
• Don’t forget to press ‘submit’ – you would be surprised how many people complete the return and then stop without submitting or leave submission and then forget to do it!

These are just a few quick tips from the common mistakes I see, I hope they help!

#selfassessment #tax #taxdeadline #Accountancy4You

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