MoneyMagpie

Nov 01

Get your tax sorted now

Reading Time: 2 minutes

Tax season is upon us and accountants around the UK are licking their lips at the prospect of businesses and worried individuals, getting in touch to get help with their returns.

The immediate bad news is that the deadline for submitting your tax return as somebody who is self-employed has already passed and for those of you who only submit returns in paper have also run out of time as the deadline passed on the 31st of October.

However, you can easily submit your tax return online by clicking the link here.

The last thing you want to do though, is wait until the deadline as it’s likely that you’ll be swamped by the Christmas period.

Figuring out how much money to pay and how to fill out a tax return can be tricky though, which is why you can use specific calculators to help, one of which you can access by clicking here.

Many firms will be getting in touch with businesses during this time of the year as it is the best time to help other companies get their accounts in order.

Jason Holden from Jason Holden associates, said;

“Everything a business does is taxed. Every step that take, WILL involve tax.”

So, if you work for an SME and you think you may not be paying enough OR you’re paying too much, it’s worth getting in touch with a specialist if you have any doubts.

There are a huge number of stipulations around tax and if your situation has changed in any way over the last 12 months, you need to ensure HMRC know.

If you would like to know what the rules are around inheritance, MoneyMagpie has a useful article that you can access here, as well as a handy guide on Probate Tax here.

If you would like to know more around marriage tax rules and self-assessment, you can learn more from this handy guide.

Getting hit with a bill for unpaid bills is a real sucker punch and as we approach the festive period, it’s important that you get your accounts in order.

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