Personal Tax Returns

Why do I need to do a personal tax return?

There are a number of reasons you may be required to complete a tax return these include:
  • You were self-employed as a ‘sole trader’ and earned more than £1,000
  • You were a partner in a business partnership
  • You earn money from renting out a property
  • You have income from savings, investments and dividends
  • You have foreign income
  • You want to claim income tax reliefs
  • You receive child benefit

When do I need to complete my personal tax return by?

The tax year runs from 6th April to 5th April the following year, and you have until the 31 January following the end of the tax year to submit your tax return electronically. 

So, to break that down:

For the 6th April 2019 to 5th April 2020 tax year you have until 31st January 2021 to submit your tax return electronically. Don’t forget if you are submitting by paper the deadline is shorter, HMRC must receive your return by 31 October 2020.

What happens if I don’t submit my tax return on time?

If you don’t submit your tax return on time you will receive a £100 penalty and interest will be charged on the tax that should have been due.

How can Treetops help?

We will take away the stress of submitting your tax return. You will get an easy to understand list of everything we need and can rest assured that we will be looking at every opportunity to save you tax.

Our agent access will allow us to keep an eye on your HMRC account giving you peace of mind that you’re up to date with all your submissions and payments.

Call us or complete our website contact form to book your free meeting with one of our team.

An accounting expert from Treetops can call you back at a time that suits you.

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