Top tips on Filing your Self assessment Tax return 2018-2019

Key points on how to file your self assessment tax return 2018-2019

Deadline to register

Its important to understand that you will need to notify HMRC before the 5th October if you need to file your tax return 2018-19, Otherwise you may incur a penalty. You can register online or by paper, the online method is usually quicker, the UTR number can take up 4 weeks to arrive in the post. You cannot file your tax return if you have not received your Unique tax reference number.

accountants for limited companies

Information needed to file your tax return

The information you will need will depend on your source of income.

Simple income Tax Tax returns

  • P60 or P45
  • P11d
  • Pension income

Property income Tax return

  • Rental income Statements
  • Mortgage interest certificate
  • Service charges
  • Repairs and maintenance costs
  • Accountancy costs

Self employed tax returns

  • Sales invoices
  • Purchases
  • Expenses
  • Bank statements

Capital Gains property Tax returns

  • Sales completion statements
  • Purchase completion statements

The information listed above is what you will need to complete the basic tax return and you may need other information depending on your circumstances.

Other information needed

  • Interest income
  • Dividend income

The deadline to file the electronic tax return 2018-2019 is the 31st Jan 2020. GM professional Accountants can help you in the preparation and filing of your tax return. It is important to complete a tax return if you have been issued with one. If you ignore the filing deadline and do not file by the deadline. you can be looking at fines that can run into the hundreds.

You must submit your tax return by the 30/12/2019 if you would like the tax to be collected from your wages. The UTR number can take up to three weeks to afrrive if you have lost your number. Ensure you order this in time  order file your tax return by the deadline. GM professional Accountants are based in London and Ilford.

 

 

 

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