How to Fill Out a Self-Assessment Tax Return

selfassessment tax return

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

If you’re struggling to fill out your self-assessment tax return, here are a few tips. First, remember that the self-assessment tax return is not a one-size-fits-all proposition. There are supplementary pages and short forms you must complete depending on your circumstances. You must use an appropriate Nominal Code for each type. If you have supplementary income, you will need to fill in a Supplementary Page. Click here

Help You Manage Your Financial System

Generally, you can file your self-assessment tax return anytime before the deadline. For business partnerships, you must register for self-assessment before submitting your tax return. It’s important that you have a unique tax reference (UTR), as you will use it for all other tax activities. In addition, you must create a Government Gateway account if you have nominated partners.

Depending on the type of income you receive, you can also choose when to file your self-assessment. If you are self-employed, the deadline is the 30th December after the tax year ends. Fortunately, late filing and payment penalties are waived for a month after the deadline for the tax year’s end. And remember, the deadlines for self-assessment tax returns are similar from year to year, and the latest one is the end of 2023.

The easiest way to fill out a self-assessment tax return is to use an online tool. The tax return software from Which? is easy to use and provides a step-by-step guide to the process. You can even use a calculator to figure out how much you’ll need to pay for the year’s self-assessment tax return in 2021-22. This can help you save money in the long run.

LEAVE A RESPONSE

Your email address will not be published. Required fields are marked *

You Might Also Like