Self Assesment Important Dates

Zebedee69

Hia!

Im just wondering what are the important dates for self assesment. What dates do you make payment and what dates do you normally send in your tax return.

Cheers:beer:

Zeb

Murdina

As of 2008, the deadline becomes 31 October if you do a paper return and remains 31 Jan if you are filing on line. In view of this year's fiasco with on line filing, it would be prudent to make sure you try and file your return well before then. If you are due a repayment, then the sooner you send it in, the sooner you get it back, whereas the date any tax is due does not change.

As far as I know, the payment dates are not changing. First year you are in SA you pay all on 31 Jan plus half of that amount again on the same date as a payment on account for the next year; the other half is paid on the following 31 July. So you need to budget carefully if you have just started up a business for example to allow for this 1 1/2 times payment.

If more than 80% of tax is paid at source, you do not have to make payments on account, nor if your liability is less than £500 for any year.

I noticed that HMRC website under SA on this topic http://www.hmrc.gov.uk/sa/faqs/keydates.htmdoes not reflect the change to 31 Oct.

If you are sent an SA return later than usual then the dates may become 3 months after date of issue for filing and 2 months for payment (in other words, if these dates are later than the normal date).

Mikeyorks

Unsure why that HMRC link doesn't work (then realised you've somehow incorporated some of your text into the end of the URL) ... hopefully this one does :

http://www.hmrc.gov.uk/sa/keydates/keydates.htm

ScarletBea

Do we have to wait until we are sent the SA forms, or do we start preparing beforehand?
I read on the site that we only get the information from employer and banks(statements, etc) by mid July anyway, but around which month would they send the forms, if they do?

mrkbrrws

ScarletBea wrote: »

Do we have to wait until we are sent the SA forms, or do we start preparing beforehand?
I read on the site that we only get the information from employer and banks(statements, etc) by mid July anyway, but around which month would they send the forms, if they do?

The Tax Return is normally issued on 6 April or shortly after.

You should receive most statements and certificates of interest etc. by about the end of May, if you have benefits in kind from your employer you might not get a P11D until July.

Murdina

if you are going to file on line then make sure you register in good time so you are all ready to go once you have the details you need.

You should get a return in early April (or a letter telling you you need to make one).

Are you sure you are within self-assessment though? Not everyone gets a return.

ScarletBea

Murdina wrote: »

Are you sure you are within self-assessment though? Not everyone gets a return.

Almost positive, since I'm a foreigner in the 40% bracket, with some savings abroad.