Preparing your tax return is a must for millions of taxpayers. Moreover, do you know why?
In this video I’m going to
- Firstly show you who needs to complete a personal tax return
- Secondly, the key information that you need to include,
- Thirdly, some costs you can claim if you’re self employed
- Lastly, the key dates for submitting your return and making payments
So what are we waiting for? Let’s get started!
Tax deadlines, update
Getting stressed about getting your tax return filed by 31.01.22. Some breathing space and some slack has just been announced by HMRC.
HMRC is waiving late filing and late payment penalties for Self Assessment taxpayers for one month – giving them extra time, if they need it, to complete their 2020 to 2021 tax return and pay any tax due.
Devil is in the details, eg interest still due on late tax payments, rate has gone up to 2.75% from 04.01.22.
Full details for waiving late filing and late payments. Grab this link to some (FREE) online tax and business calculators.
Conclusion
This vlog on preparing your Self Assessment- Tax Returns 2020-21 is essential stuff to know for those millions of people . Moreover, having there is £1 billion of unclaimed allowances.
Furthermore, you can improve your financial understanding and well-being. Plus make more profit, save tax and time, and your money mindset. How wonderful is that?
Get in touch with us to help make your life easier and stress free.
Contact us if you need help figuring out and sorting your financial and cash flow planning, your tax , payroll and other accounting and business matters. For more business and finance , news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers, listen to our weekly podcast I Hate Numbers.
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