Latest Self Assessment

Self Assessment Scams

Beware of Self Assessment scams! More than 11.5 million tax returns have been submitted for the 2022/23 tax year and fraudsters are focusing on these. Taxpayers have reported to be receiving emails, phone calls or text messages offering a tax rebate. These are phishing scams and are designed to use your personal details for selling…

HMRC Self Assessment Tax Return Statistics 2023

778,068 beat the clock to complete their Self Assessment tax returns on 31 January 2024!   HMRC have released their Self Assessment 2023 facts and figures: 12,187,811 Self Assessment tax returns were issued to tax payers 11,581,962 expected tax returns were received by 31 January (95% of returns expected) An estimated 1.1 million customers missed…

23/24 Pension Contributions: Act Fast

With the tax year end approaching, we are busy assisting our clients with end of year planning. Pension contributions before 6 April 2024 are a valuable planning tool for all taxpayers, whether they are self-employed, Company directors or employees. Additionally we also have opportunity to support our clients when it comes to occupational schemes which,…

Missed the Self Assessment Tax Return deadline?

If you have missed the 31st January 2024 Self Assessment Tax Return deadline (one of the 605,849 who did) for your 2022/23 tax return, you may be unsure as to what to do next. We are here to help you submit your late return and answer any questions you may have on the matter.  …

31 Jan: Could Your Self-Assessment Tax Be Reduced?

Could your Self-Assessment Tax be reduced?   For those clients that prepare self-assessment personal tax returns, 31 January is usually tax payment day. This tax will primarily be based on your personal income for the tax year ended 5 April 2023, potentially made up of 2 components:   The balancing payment for 2022/23 (total 2022/23…

HMRC Interest Rates & ‘Time To Pay’: Self Assessment

The forthcoming Self Assessment payment date of 31st January 2024 is looming. HMRC last increased the late payment and repayment interest rates on 22nd August 2023 and this applies to the main taxes and duties that HMRC currently charges and pays interest as follows:   Late payment interest rate — 7.75%   Repayment interest rate — 4.25%…

How To Pay Your Self Assessment Tax

‘How to pay your Self Assessment Tax’ will be a question that many people are asking with the payment deadline of 31st January 2024 just around the corner.   It is important to ensure your payment is made by the 31st January to avoid any late payment interest which HMRC charge daily.     For…

30 December: Self Assessment Deadline!

Don’t forget the 30 December Self Assessment Deadline!   If you want HMRC to automatically collect tax you owe from your wages and pension you need to submit your tax return online by 30 December and if so you are able to pay your Self Assessment bill through your PAYE tax code as long as all these apply:  …

Paper Self-Assessment Tax Return: Deadline?

The deadline for filing a paper Self-Assessment Tax Return (SATR) was midnight on 31st October.   If you were planning on filing your SATR in paper form but missed the deadline, don’t worry as you can still file online.   You’re not alone in filing your return digitally. Here at Whitings almost 100% of our…

Paper Self-Assessment Tax Return Deadline – One Month Away

There is now just one month before the self-assessment (SA) deadline for filing your Self Assessment Tax Return in paper form.   If you’re doing a paper tax return, you must submit it by midnight 31 October 2023.   Here at Whitings almost 100% of our client’s Self Assessment Tax Returns are filed online with HM…