Self Assessment

New Year, New Tax Return

 

Happy New Year one and all! I hope everyone enjoyed their holiday break and is looking forward to what’s in store for 2017!

I remember reading an article years ago claiming that January was the most depressing month of the year; post-Christmas blues, back to work and the holiday bills and debts coming in are all factors in this statement. Another factor could also be that for those of us in charge of our own businesses, January 31st marks the deadline for your Self Assessment!

While last year’s HMRC Press Release shows a record breaking number of assessments being completed – 89% alone completed online – there are still a number of people that miss the deadline and begin to rack up fines and penalties. Even if you are 1 day late, you’re looking at a £100 penalty just to start off with!

I recently helped one of my clients with their very first Self Assessment and they were thrilled with how easy the process was and how much time and money they ended up saving. Obviously it helps to be organised with your record keeping or, if you prefer focusing on your business and want someone else to deal with the numbers, get yourself a bookkeeper!

Whether you’re a seasoned SA veteran or in need of a bookkeeper and guidance for your tax return, please get in touch here!

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