What you need to know before filing self-assessment for 2017/2018
It’s a common scenario.
As the year draws to a close, the thought of your tax return is there, at the back of your mind. But with so much time before the deadline, you decide not to worry about it for now.
Then the weeks start to fly by, Christmas comes and goes, and soon you’re planning for the New Year and getting back to work as normal.
Before you know it, it’s the end of January, you’re searching for your registration details, and HMRC’s waiting times are growing longer as thousands of other taxpayers in the same predicament try to get in touch.
More than a quarter of tax returns in January 2018 – that’s 1,290,948 altogether – were submitted less than 48 hours before the self-assessment filing deadline at midnight on 31 January.
Around 30,348 of those were left literally to the last minute, between 11pm and 11:59pm.
It’s better to finish your return early on to avoid this last-minute rush – but if the thought of rummaging through old receipts and puzzling over tax calculations fills you with dread, Porter Garland can help.
The attached report covers the following:
- What is Self-Assessment and are you included?
- What do you need to do?
- What are the penalities if it’s late
- Common Problems
Click this link for the full report.