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LATEST
NEWS 6
April 2024 WHY
WAIT UNTIL JANUARY TO SUBMIT YOUR TAX RETURN? The 2023/2024 tax year ended on 5 April and
many of you will be receiving a notice from HMRC that you need to complete a
Self Assessment Tax Return for the year. Although the Return does not need to be
submitted until January 2025, submitting the form sooner rather than later
may be in your interest, either to give you as much notice as possible of any
amounts that may be due for the year, or alternatively, to reclaim any tax
that may be due back to you at the earliest possible stage. If you would like assistance completing
your Return, please get in touch. _______________________________________________________________________________ 8 December 2023 DON'T MISS THE 31 JANUARY DEADLINE If you have been
sent a Self Assessment Tax Return for the 2022/2023 tax year and have not yet
submitted it, then you are rapidly running out of time! If your Return is
not submitted electronically by 31 January 2024, you will incur an automatic
£100 penalty. Unlike years prior to the 2010/2011 year, this penalty will
apply irrespective of whether you owe tax or not and further penalties will
be applied if submission is further delayed. Please note that
the deadline has passed for paper submission and sending in a paper copy now,
even if it reaches HMRC by the end of January, will also incur a penalty. Any tax you may owe
for the 2022/2023 year, along with the first payment on account that may be
due for the 2023/2024 year, are also due by the end of January. Late payment
will incur interest charges and possible further penalties. ______________________________________________________________________________ |
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Contact: Rose
Cottage Chantry Road Chilworth Guildford Surrey
GU4 8LT Tel: 01483
505261 or 07710 130378 Email: andrew@andrewtuffs.co.uk
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