Every single working individuals whether entrepreneurs or contractual workers must be aware of everything for what all they need to do be in consistence with tax changes matters. There is part of things should have been dealt with in duty or monetary year. In the UK, the expense year runs from sixth April to fifth April consistently. Along these lines, it gets significant to have a rundown of all the most significant days available. On the off chance that you are knowledgeable with the dates, at that point it can spare you from falling into a minute ago frenzies and furthermore be prepared with all the important administrative work. Consequently, it spares you a lot of cash over the long haul.
For keeping you ahead and made arrangements for the forthcoming money related year, here's a far-reaching manual for all that you have to think about, and plan for, with regards to the Tax Return Deadlines 2019/20 expense year.
You can spare this guide as a source of perspective to check the up and coming key dates. Also, it could demonstrate priceless to the prosperity of your business
UK Key dates of the tax year 2019 / 20
- 6 April 2019: First day of 2019/20 tax year
- 31 July 2019: Second Payment on Account for the 2019/20 tax year
- 5 October 2019: Deadline for Self Assessment registration for the self-employed and freelancers, or additional income earners
- 31 October 2019: Paper tax return submission
- 30 December 2019: Online tax return submission
- 31 January 2020: Self Assessment online tax return deadline and first Payment on Account for the 2019/20 tax year
- 6 April 2020: 2019/20 tax year ends
What are the important dates for self-employed adhering to self-assessment?
Self Assessment is a framework HM Revenue and Customs (HMRC) uses to gather Income Tax. Assessment is normally deducted naturally from wages, benefits and reserve funds. Individuals and organizations with other pay must report it in an expense form.
Deadlines
Register for Self Assessment if you’re self-employed or a sole trader, not self-employed, or registering a partner or partnership: 5 October 2019
Paper tax returns: Midnight 31 October 2019
Online tax returns: Midnight 31 January 2020
What about the Self Assessment for 2018 / 19?
All the above dates and deadlines refer to the upcoming financial year. You must be thinking about what all you must be taking care of for the current financial year. Talking about the current tax year i.e., 2018/2019, it started on 6 April 2018 and will finish on 5 April 2019. 31 January will be the last day to file Self Assessment. This is the biggest date of the whole year for many self-employed people and small business owners. If you’re earning any income outside of PAYE, you’ll need to submit what is known as a Self Assessment tax return.
Self Assessment submissions are due by midnight on 31st January. Miss it, and you could end up being forced to pay a considerable penalty. Good News! You can hire the services of DNS Accountants to complete your tax return for you, and we will correspond with HMRC on your behalf if there are any issues or discrepancies.
Our Self Assessment Tax return service starts from as little as £150 + VAT. For further information or to discuss your situation in confidence call on 020 8903 6330 and a member of our team will be happy to help. Alternatively you can email us on
1 comments:
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