A Guide to Filling in and Filing Your Self-assessment Tax Return – TaxBack

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A Guide to Filling in and Filing Your Self-assessment Tax Return

As it is important you fill in your self-assessment tax return before the 31st January deadline; this article helps guide and educate you on procedures pertaining to filling in your UK tax returns.

When to Fill in and File your UK Self-Assessment Tax Return 

The 31st January of each year is the deadline for filing your online self-assessment tax return. If you favour filing a paper tax return, the deadline is 31st October of each year. As you can see filing your UK tax returns online gives you more time, plus it’s the way to go as paper tax filing will soon be redundant. You can ask out tax consultants for more details and help regarding other deadlines, as well as, assistance for filing your online tax return, which we encourage you don’t wait to do until the 30th of January.

Related Post: Step by step guide to completing the HMRC Self-Assessment Tax Return

Information Required when Filling in your UK Tax Returns

The following information should be ready on-hand when filing your tax returns.

  • If employed, all income details
  • Any partnership income
  • Dividends
  • Interests earned
  • Income from rentals
  • Any foreign income
  • Gift aid
  • Pension contributions
  • Any unemployed benefits or lump payments for redundancy
  • Account payments
  • Capital gains
  • P11D form from your employer (ask us for more details)

Our advice is you save and record all income and expenditure details, to avoid complications when filing your tax returns or claiming UK tax refunds. Also, register and obtain your ‘unique taxpayer reference number’ which you receive once registered as a self-assessment tax payer. As professional tax consultants, we offer a range of services, including maintaining your personal records which benefit self-employed tax payers when it comes to filing in a tax return. 

Related Post:
HMRC Delays UK Tax Returns Penalty Notices: Will You Face Extra Fines?

Steps to Filing in your Tax Return

Once you’re settled in with necessary details here’s a summary of steps to follow for online tax filing.

  • Check all your personal details
  • Only fill in sections applicable to you
  • Report your earnings
  • Add all tax-deductible expenses
  • Double check your tax returns

While the procedure seems simple, you need to have practise and correct details for filling your tax return. Do check with our UK tax consultants who will assist and advise you on filing your tax returns in accordance to HMRC’s requirements; thus avoiding delays and any unpleasant penalty fines as a result.

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