Many of us struggle in January – getting back to ‘normality’ after the festive break, commuting in the dark… the imminent tax return deadline!
31st January is the date that self assessment tax returns must be submitted. The period covered is the year ending 5th April of the previous year. It’s always the same deadline, yet it seems to approach many of our clients faster each year!
Does this feel familiar? Don’t worry – help is at hand!
Good news! If you haven’t already submitted your paperwork to the friendly tax experts at Spicer & Co, you still have a little time… but be quick! “We appreciate that everyone has busy lives,” says Suzanne Spicer. “Ideally, we would like to receive clients’ paperwork during December, however we can accept information up to the second week in January.
“Even better, if we receive information more regularly, we can help with practical tax planning advice before the end of the tax year. Plus, we can chat with you about your business performance and plans, offering proactive advice along the way.”
Submitting Self Assessment Details
At Spicer & Co, we aim to make life as easy as possible for our clients. We provide easy-to-use ways of capturing the details needed for your return. Plus, we suggest ways of keeping your records up-to-date along the way avoiding the last minute rush. Examples include:
- Use of apps to capture receipts digitally
- Cloud bookkeeping software
- Simply dropping in your receipts to us more than once a year and having a catch up and a cup of coffee
“We can help by suggesting efficient ways of collecting the information needed,” explains Suzanne. “However receipts in shoe boxes or even washing powder tubs are common! Once we have the details needed, we minimise your tax liability and ensure that your return is submitted on time.” Phew!
Excuses for Late Tax Return Submission
HMRC will charge you a penalty if your tax return is submitted after 31st January. With each case assessed individually, there are however, some excuses that may be deemed ‘reasonable’ by HMRC. These include:
- The recent death of a partner
- An unexpected stay in hospital
- Computer failures
- Service issues with the tax authority’s online services
- A fire which prevented the completion of a tax return or postal delays
Making Self Assessment Straightforward
At Spicer & Co, we aim to lighten the load – by minimising your tax bill and simplifying how you collate the details needed during the year. Even with our careful planning and regular communication, sticky situations sometimes happen… such as when a client lost all their receipts when their van was valeted – and the receipts thrown away!
To find out about our tax services, contact the friendly team at Spicer & Co. Based in Dunstable, we help people and business to minimise their tax across Dunstable, Houghton Regis, Leighton Buzzard and Luton as well as further afield. Find out more over a coffee and without obligation. Let’s have a chat.