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LATEST
NEWS 8 December 2025 DON'T MISS THE 31 JANUARY DEADLINE If you have been sent
a Self Assessment Tax Return for the 2024/2025 tax
year and have not yet submitted it, then you are rapidly running out of time! If your Return is not
submitted electronically by 31 January 2026, you will incur an automatic £100
penalty. Unlike years prior to the 2010/2011 year, this penalty will apply
irrespective of whether you owe tax or not and further penalties will be
applied if submission is further delayed. Please note that the
deadline has passed for paper submission and sending in a paper copy now,
even if it reaches HMRC by the end of January, will also incur a penalty. Any tax you may owe
for the 2024/2025 year, along with the first payment on account that may be
due for the 2025/2026 year, are also due by the end of January. Late payment
will incur interest charges and possible further penalties. _______________________________________________________________________________ 11
April 2025 WHY
WAIT UNTIL JANUARY TO SUBMIT YOUR TAX RETURN? The 2024/2025 tax year ended on 5 April and
many of you will be receiving a notice from HMRC that you need to complete a Self Assessment Tax Return for the year. Although the Return does not need to be
submitted until January 2026, submitting the form sooner rather than later
may be in your interest, either to give you as much notice as possible of any
amounts that may be due for the year, or alternatively, to reclaim any tax
that may be due back to you at the earliest possible stage. If you would like assistance completing your
Return, please get in touch. ______________________________________________________________________________ |
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Contact: Tel: 01483
505261 or 07710 130378 Email: andrew@andrewtuffs.co.uk
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