1. Cashtrak’s Self-Assessment Tax Return Tips

2. Keep on top of your paperwork and receipts, file them in an order that makes it easy for you to find them

3. Did you know? There are different tax deadlines depending on your circumstances. Find out your tax return deadline as soon as the tax year starts. Check here:

4. www.cashtrak.co.uk info@cashtrak.co.uk 01865 522785
Submit your tax return as early as possible in the year. This can be done as soon as the previous tax year ends but the deadline for payment stays the same no matter when the tax return is submitted – you will be able to budget better knowing what tax you owe and avoid penalties

5. Log on to your Government Gateway in advance to ensure it works

6. www.cashtrak.co.uk info@cashtrak.co.uk 01865 522785
Look at the tax return form in advance of completing it so you know what you need to have to hand such as your tax return reference, URN, National Insurance Number (sometimes referred to as NINO), P11d, P60, P45, bank statements and pension details.

7. Understand your allowances Work clothes/ uniform Charity donations in the UK Charity donations outside the UK

8. www.cashtrak.co.uk info@cashtrak.co.uk 01865 522785
If your circumstances change, ensure you notify HMRC as soon as possible. If you have submitted a tax return previously then HMRC will expect you to continue to do so until you tell them otherwise (even if you have notified other Government departments of your change of circumstances, you still must tell HMRC) otherwise you may receive a fine

9. Your tax return can be paid online, ensure you pay in plenty of time before the deadline

10. There are penalties for late submission – HMRC use a tiered penalty system and the fines may incur daily interest

11. Whilst you can appeal your penalty IF you have a reasonable excuse it can be time consuming and complicated

12. If you have had a change in circumstances in the last tax year such as receiving an inheritance you may be required to submit a tax return – check at:

13. www.cashtrak.co.uk info@cashtrak.co.uk 01865 522785
Remember, the closer you get to January, the busier HMRC are. The online tax return system can become overwhelmed coming up to the deadline and it may take longer to submit – we have also experienced the website crashing and being unable to submit our last minute submissions which is why we can not stress enough the importance of being organised and submitting your self assessment as soon as you possibly can.

14. Still not sure. Have no time. Need guidance
Still not sure? Have no time? Need guidance? Let Cashtrak take the stress away! Visit our website, call or e mail us