Top Tips For Completing Your Tax Return.

It's that time of year again, with only two weeks to go until the tax return deadline We'd thought we'd share our top tips for completing your tax return.


1. Get prepared

Ok so first things first, make sure you are registered for Self-Assessment and have a Government Gateway ID. You’ll need this to login to HMRC’s website to submit your tax return so it’s pretty important. It can take up to 10 days arrive so don’t leave it until last minute. Here is the link to register for Self-Assessment if you haven't done so already - https://www.gov.uk/register-for-self-assessment



2. Understand what you can and can’t claim

If you’re unsure what expenses are allowable and which ones aren’t HMRC have some really useful resources online explaining about allowable expenses. We’ve included a link below if you want to check it out - https://www.gov.uk/expenses-if-youre-self-employed?cid=dr_uk_SA-SMB-QBSE-009_Email_link_121321-12132...



3. Remember to check what additional allowances you can claim

Once you’ve got together all your expenses don’t forget to check HMRC’s website to see what allowances you might be eligible to claim. Travel for business? Make sure you’ve included your business mileage trips. Work from home? You can claim £6 per week for to cover additional household costs.



4. If in doubt, hire a professional

Bookkeepers and accountants spend most of their January completing self-assessments. They’re experts and extremely knowledgeable. Likelihood is that they will actually save you money, plus it take the stress off of you.



Bookkeeper Buddy can complete your tax return for a fixed fee. Contact us today to see how simple your tax return can be.



fiona@bookkeeperbuddy.co.uk

07511 629 486