Posts Tagged ‘online filing tax return’

Twelve reasons why you should do your tax return earlier

Thursday, February 8th, 2018

Twelve reasons why you should do your tax return earlier.

How was it for you? The process of submitting your 2016/17 tax return, that is…

Congratulations if you submitted in plenty of time. However…..

Did you miss the 31 Jan filing deadline (incurring a rather unwelcome late filing penalty) or squeeze it in at the last minute? Was it yet another stressful experience you’ve come to dread?

HMRC revealed recently that nearly 750,000 taxpayers failed to submit their tax returns by the 31 Jan deadline, despite it allegedly being easier than ever to complete & file. Indeed, this represents a fall from the previous tax period, when 840,000 people failed to make the 31 Jan 2017 deadline but there’s clearly work to be done.

If you’re one of the many who didn’t file your tax return on time, here’s why you should get it done earlier for 2017/18:

  1. There’s less likelihood of errors when you’re not preparing it in a hurry – get it right and stay off HMRC’s radar
  2. It’s much less stressful for you (and your accountant if you use one) if you file before the busy season
  3. Get it out of the way before Christmas so it’s not looming over you whilst you enjoy the festivities
  4. Preparing it earlier means paperwork will be easier to locate and details are fresh in your mind – this should save you significant time and ensure better accuracy
  5. Avoid a late filing penalty
  6. File early and you’ll have more time to save up if any tax is due
  7. You’ll receive any tax refund earlier
  8. More availability of resources in the quieter months, such as access to accountants and HMRC who are notoriously stretched in December and January
  9. You can have qualifying underpayments coded out if your tax return is filed by 30 Dec
  10. There’s more time to correct any errors in your current tax code
  11. You’ll have more time to file an amended return
  12. With more time to consider all available tax deductions and reliefs, you stand a better chance of reducing your taxable profits and saving more tax

 

If you have any queries about your tax position or are interested in optimising your tax affairs, please contact Helen Sewell or call Helen on 01527 558539. Have a look at how we can help with your tax requirements.

Twelve reasons why you should do your tax return earlier

Twelve reasons why you should do your tax return earlier

www.hmrc.gov.uk

 

Submitting your tax return online

Tuesday, October 22nd, 2013

If you’re still filing your self assessment tax return the old fashioned way on paper but have the option of filing online, once the 31 October 2013 deadline has passed it might be a good time to register for online filing.

Choosing this option means you have until 31 January following the end of the tax year (so, for the tax year ending 5 April 2013, you have until midnight on 31 January 2014 to file).

To register online, follow the instructions here.

Or, ask the experts. Curo has a team of tax specialists who can prepare and submit your tax returns (and supporting tax computations).

Get in touch with Helen Sewell to discuss your requirements on helen.sewell@curoca.co.uk or call Helen on 01527 558539..

Only 2 days to file your paper tax return!

Monday, October 29th, 2012

If you’re not a convert to filing your tax return online, you’ve got until the end of this Wednesday to file your tax return in paper format for the tax year 2011/12.

If you’re late, don’t despair! You still have until 31 January 2013 to file your return, either via HMRC’s software or through an agent. 

For those who’ve decided to file online for the first time, make sure you register with HMRC with plenty of time to spare before the deadline.

Whatever happens, just don’t leave it until the end of January and risk an automatic fine – you’ve worked hard for that income so don’t let bad admin deprive you of it!

Curo October 2012

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