NEWS

Self Assessment Deadline - 31 January 2017

It may sound like a long way off but the self-assessment deadline on 31 January 2017 will be here before we know it.  This isn’t just for the paperwork, HMRC expects payment by then too. We ourselves have been busy working on our clients’ returns making sure they’re completed and submitted in time. So if you still have sorted out your receipts or got your bookkeeping in order we would urge you to do so now.

If you are unsure if you need to complete a tax return for the tax year 2015/2016, this handy checklist below will help you decide:

• You were self employed
• You received £2,500 or more in untaxed income
• Your savings or investment income was £10,000 or more before tax
• Your make profits from welling things like shares, a second home or other chargeable assets and to pay Capital Gains Tax
• You were a company director – unless it was for a non-profit organisation (eg a charity) and didn’t get any pay or benefits, like a company car
• Your income (or your partner’s) was over £50,000 and one of you claimed Child Benefit
• You had income abroad that you needed to pay tax on
• You live abroad and had a UK income
• You received dividends from shares and you’re a higher or additional rate taxpayer
• Your income was over £100,000
• You were a trustee or a trust or registered pension scheme

Please let us know if you would like us to assess your financial situation regarding tax and/or help with completing your tax return.

03/01/2017