Summer has a tendency to pass us by very quickly and, before we know it, HM Revenue & Customs (HMRC) will be sending us all reminders to start filing our self-assessment tax returns.
Paper returns need to be returned to the tax authority by October 2017 – or January 2017 if you prefer to file your returns online.
It is wise to take an organised approach from the outset by getting your information together early, staying on top of any tax issues and developments throughout the year. This will help to ensure that your self-assessment tax return can be completed and submitted quickly, easily and on-time once the summer has subsided.
Furthermore, planning ahead today will go a long way to provide you with piece of mind that your tax affairs are in good order – helping you to identify and rectify any potential hiccups at the earliest possible opportunity.
HMRC offers some handy self-assessment tips here.
For further information or advice about personal tax planning, or self-assessment tax returns, please contact MD Consulting.