Latest Self Assessment

Don’t forget the 30th 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 30th December. If so, you are able to pay your Self Assessment bill through your PAYE tax code as long as all…

The countdown has begun as there are only 90 days remaining to file and pay your Self Assessment tax return before the 31st January 2025 deadline.   As the deadline for submitting a paper return has passed (31st October 2024), the deadline for submitting an online return is midnight 31st January 2025. You will also…

We share our key takeaways on how the Autumn Budget 2024 affects individuals. During the first Budget to be delivered by a woman, and the first Labour Budget for 14 years, Rachel Reeves set out various measures to “fix the foundations and deliver change”.   Along with Income Tax rates, Labour included a manifesto pledge not…

The second Budget of the year is due to take place on 30 October 2024. We knew one would be happening, and expected that there would be many changes announced. More will no doubt come in the next few weeks.   Ahead of this, there is confirmation of the new rules relating to Furnished Holiday…

There’s just under one month to go until the HMRC Self-Assessment registration deadline (5 October 2024) for the 23/24 tax year.   You’ll need to apply if you need to complete a tax return and have not sent one before, or did not send one last year.   If you are not sure if you…

Have you missed the deadline for the personal tax July payment on account? We discuss what this means and what you should do next.   Tax liability payments made past the deadline HMRC will begin to charge daily interest on the late payment and in addition, there may also be surcharges added. Therefore, it is…

It’s helpful to know the common mistakes people make when completing Self Assessment tax returns (SATR).   We know that filing your SATR can often feel like a daunting task, especially with the complexities of tax rules and looming deadlines. At Whitings LLP, we understand the challenges taxpayers face and are here to help you…

From 6th April 2024 HMRC want to encourage more of the self employed to use the cash basis when completing their accounts and self-assessment tax returns.   The new cash basis from 6th April 2024 will mean: The cash basis will be the default, with an opt-out for those wishing to use the accruals basis.…

Are you one of the 1.1 million customers that missed the 2022/23 tax return deadline?   We have reached 3 months after the tax return deadline for the year ending 5th April 2023. This means that if you should have completed a tax return, but failed to do so, you will now occur a daily…

Now that the 5th April 2024 has passed, many self-assessment taxpayers will be turning their attention to preparing and submitting their self-assessment personal tax returns for the 2023/24 tax year, which covers the tax year ended 5th April 2024, but what are the reasons for choosing to submit your tax return early?   Although the filing…