The deadline for filing your 2010/2011 tax return online is January 31st 2012 – are you prepared?

If you’ve never filed online before, you will need to register with HMRC’s self-assessment online service, at www.hmrc.gov.uk/sa.

Click ‘Register for Self Assessment Online’ in the top right hand corner, fill in your details and you’ll be sent an activation code which will be issued in the post. This can take a week or more, so if you haven’t already, now is the time to act! Anyone who fails to meet the 31 January deadline will be fined £100, regardless of whether or not any tax is … Continue Reading

If you’re self-employed, you will need to make an annual declaration of your incomings and outgoings to HM Revenue and Customs. This is known as a self-assessment tax return.

Your return will show your income (what you’ve earned) and capital gains (gross income) and allow a final figure to be produced stating the amount of income tax you are liable to pay.

Where can you get one?

Before you can file your self-assessment tax return, you will need to register with the HMRC by visiting http://www.hmrc.gov.uk/sa/register.htm. HMRC will then use the information you provide to set up a record for you.

You will … Continue Reading

HM Revenue & Customs (HMRC) has issued a reminder to anyone who hasn’t yet submitted their 2008-09 Self Assessment tax return.

The reminder stresses that the 31st October deadline for paper returns has now passed, which means anyone yet to file must do soonline by the 31st January deadline. HMRC warns that if you submit a paper return after 31st October, or you file online after 31st January, you could receive a £100 penalty.

HMRC are expecting more than 9.5m Self Assessment returns this year. Around 5.8m people filed online last year, up from 3.8m the previous year – an increase of over … Continue Reading