Self-assessment tax deadline fast approaching

10 Jan 2018

HMRC is reminding individual provisional taxpayers that the deadline of 31 January 2018 to complete your online tax return is fast approaching!

With more than 10 million people expected to complete their tax return online, Angela MacDonald, HMRC Director General of Customer Services, says: "Twenty years ago, filing self-assessment returns on a mobile phone would have been unimaginable. Today, completing your self-assessment via your Personal Tax Account can be done anywhere or at any time; on the bus, in a coffee shop or while watching TV, using your phone, a tablet or a computer."

It's important to be aware that filing your tax return late, or failing to pay the tax you owe on time, could mean you face extra penalty fees and interest charges. It is recommended that you authorise a tax specialist such as Beavis Morgan to handle your tax affairs and deal with HMRC on your behalf. This will ensure that all deadlines are met and that you are not paying more tax than you need to.

Note: From 13 January this year HMRC will no longer be accepting payments made using personal credit cards.

The following is a list of self-assessment key dates and deadlines for the UK tax year:

31 January 2018 - Deadline to complete their online tax return for 2017/18 tax year.
5 April 2018 - Deadline for claiming tax overpaid for the 2013/14 tax year under self-assessment.
6 April 2018 - First day of the new tax year 2018/19.
31 May 2018 - P60s to be given to all employees for 2017/18.
31 July 2018 - Deadline for 2nd payment on account for tax year ending 5 April 2018 due to HMRC.
5 October 2018 - Deadline to notify chargeability and advise HMRC of need to register for Self-Assessment for 2017/18 if you became self-employed or started receiving income from property.
31 October 2018 - Deadline for filing paper self-assessment returns with HMRC if you want HMRC to calculate your tax liability.
30 December 2018 - Deadline for online submission of self-assessment tax returns for year ending 5 April 2017 with HMRC if tax is to be collected through PAYE code number where they owe less than £3,000.
31 January 2019 - Deadline for online self-assessment tax returns for 2017/18 tax year.
31 January 2019 - Deadline for paying self-assessment balancing payment and capital gains Tax for tax year ended 5 April 2018.
5 April 2019 - End of tax year 2018/19.

At Beavis Morgan, our diverse team of tax professionals are committed to ensuring that your tax reporting obligations are fully satisfied and that every opportunity to lawfully exploit tax savings is made known to you, restructuring your affairs in a tax effective and efficient way.

If you have any concerns relating to your tax return or wish to discuss your tax affairs in further detail, please contact Paul Attridge or your usual Beavis Morgan Partner.