The clock is ticking, and time is running out for Self Assessment customers to submit their tax returns before the 31st of January, 2024 deadline. As the deadline approaches, HM Revenue and Customs (HMRC) reminds taxpayers that they have just 100 days left to complete this crucial task. The good news is that help is at hand, and support is just a click away, whether you’re looking for webinars, step-by-step guides, or professional assistance like what we offer at Shield Accountancy.
Getting the Right Help:
Completing your Self Assessment can sometimes be a daunting task, but it doesn’t have to be. HMRC offers a range of resources to make the process smoother and more manageable. Customers can access these resources on the official GOV.UK website. There, you’ll find a wealth of information and guidance that can help you navigate your tax return for the 2022 to 2023 tax year.
At Shield Accountancy, we’re here to offer our expertise and support in ensuring a hassle-free Self Assessment process. Don’t hesitate to reach out to us if you need professional assistance with your tax return. We’re here to make this journey as seamless as possible, ensuring you meet the upcoming deadline with ease.
The Benefits of Early Filing:
One of the key advantages of completing your tax return ahead of the deadline is the ability to plan your finances more effectively. By submitting your tax return sooner, you’ll have a clearer picture of what you owe and ample time to work out your payment strategy before the 31st of January. Early filing minimises the last-minute stress and allows you to manage your tax liability efficiently.
Myrtle Lloyd, HMRC’s Director General for Customer Services, provides valuable advice to all Self Assessment customers. She emphasises the importance of preparation and reaching out for support when needed. HMRC offers a range of free online help and resources to assist taxpayers in their Self Assessment journey. To discover more about these resources, simply search ‘Self Assessment’ on GOV.UK.
Flexible Payment Options:
Customers can easily make payments through the HMRC app, ensuring a convenient and secure process. For those who may not be able to pay in full, HMRC is dedicated to finding affordable solutions. If you owe less than £30,000, you may be eligible to set up a Time to Pay arrangement online without the need to contact HMRC directly. To explore all available payment options for any tax owed, visit GOV.UK for a comprehensive list.
No Longer Required To Complete A Self Assessment?
If you believe that you no longer need to complete a Self Assessment tax return for the 2022 to 2023 tax year, it’s crucial to notify HMRC promptly. Failing to do so could lead to penalties that you’d want to avoid. Taking action now will ensure that your tax affairs remain in order and help you steer clear of unnecessary complications.
HMRC has produced 2 videos explaining how customers can go online and stop Self Assessment if they are self-employed and those who are not self-employed.
How to go online and stop Self Assessment if you’re self-employed
How to go online and stop Self Assessment if you’re not self-employed
Conclusion:
With less than 50 days remaining until the Self Assessment deadline on the 31st of January, 2024, it’s essential to act promptly. Access the help and resources available online or contact us at Shield Accountancy for expert guidance in ensuring a smooth and timely submission of your tax return. Be prepared, stay ahead of the curve, and make your tax experience as stress-free as possible. Remember, the clock is ticking, and the time to act is now!