The UK Tax Return Deadline Looms: How to Get Yours Done
If you haven't started working on your tax return yet, now is the time to do so. The deadline for submitting your return is January 31st, but don't put it off until the last minute. Rushing to complete your return can lead to errors and a shortage of information, making it even more difficult to get everything done in time.
To avoid any potential issues, make sure you gather all necessary documents and information before starting to fill out your return. This may include your P60, P45, P11D forms or PAYE coding notices, as well as tax certificates for investments. Be sure to also check if you have any side hustles that are subject to taxation and remember to report any charitable donations.
HMRC offers a free and secure app that can help you obtain and verify much of the information needed for your return. The app allows you to set reminders, calculate your self-assessment payment, and even seek assistance from HMRC's digital assistant.
If you have side hustles or freelance work, be sure to report these on your tax return as they are subject to taxation. Anyone earning over £1,000 from such activities will need to register for self-assessment as a sole trader and complete a return by the end of January.
For those with savings, remember that interest rates have increased, meaning many people will exceed their personal savings allowances and be required to declare income from these accounts. HMRC is cracking down on tax evasion involving cryptocurrencies, so make sure you report any gains or losses correctly.
Donating through gift aid can also impact your tax return, as charities can claim an extra 25p for every £1 donated by higher-rate taxpayers. Be sure to include all regular donations subject to gift aid and report one-off contributions that qualify.
As with anything related to HMRC, be cautious of potential scams. Never respond to suspicious emails or text messages; instead, forward them to [email protected] or 60599. For guidance on filling out your tax return, check out the many helpful videos available on HMRC's YouTube channel.
If you haven't started working on your tax return yet, now is the time to do so. The deadline for submitting your return is January 31st, but don't put it off until the last minute. Rushing to complete your return can lead to errors and a shortage of information, making it even more difficult to get everything done in time.
To avoid any potential issues, make sure you gather all necessary documents and information before starting to fill out your return. This may include your P60, P45, P11D forms or PAYE coding notices, as well as tax certificates for investments. Be sure to also check if you have any side hustles that are subject to taxation and remember to report any charitable donations.
HMRC offers a free and secure app that can help you obtain and verify much of the information needed for your return. The app allows you to set reminders, calculate your self-assessment payment, and even seek assistance from HMRC's digital assistant.
If you have side hustles or freelance work, be sure to report these on your tax return as they are subject to taxation. Anyone earning over £1,000 from such activities will need to register for self-assessment as a sole trader and complete a return by the end of January.
For those with savings, remember that interest rates have increased, meaning many people will exceed their personal savings allowances and be required to declare income from these accounts. HMRC is cracking down on tax evasion involving cryptocurrencies, so make sure you report any gains or losses correctly.
Donating through gift aid can also impact your tax return, as charities can claim an extra 25p for every £1 donated by higher-rate taxpayers. Be sure to include all regular donations subject to gift aid and report one-off contributions that qualify.
As with anything related to HMRC, be cautious of potential scams. Never respond to suspicious emails or text messages; instead, forward them to [email protected] or 60599. For guidance on filling out your tax return, check out the many helpful videos available on HMRC's YouTube channel.
. It's crazy how they're cracking down on tax evasion, especially with cryptocurrencies, but I guess that's progress. I'm a bit worried about the scams though, don't want to fall victim to those phishing emails 
. Anyone earning over £1k from side hustles has to report it, right? And what's up with the interest rates, some people are really feeling the pinch 
. Still got my trusty pen and paper for backup, just in case 
. If you haven't started working on your tax return yet, don't worry about it too much, just take some time to gather all the necessary documents and info. And, honestly, I think HMRC's free app is a lifesaver 
. It makes everything so much easier and less confusing. Plus, if you've got side hustles or freelance work, that's already part of your job, right? Don't stress about it 
. Just do what's required and, hey, if you happen to make a bit extra from savings or something, that's just on top of everything else 
Jan 31st is comin up fast! make sure u have all ur docs & info ready, incl p60s, p45s, and p11d forms. dont 4get about side hustles & charitable donations too 
hmrsc's app is super helpful, it'll even remind u of deadlines 
and dont even think bout hiding gains from cryptos, theyre watchin out 4 that 
I'm still not convinced about this online tax return app from HMRC... think they're just trying to collect more info on us 
also, why do we need an app to verify our documents when we can just print them out and stick 'em in the envelope? simplicity is better, imo 
start gathering all those docs & info beforehand so when the deadline hits u can just chill & submit ur return easily 
. And girl, remember to report that side hustle income & any gains/losses from crypto investments 
. Can someone just create a template for tax returns already? Or better yet, can we just outsource it all to AI and be done with it? 
also what's with all these forms and documents and stuff do they have to be printed out or can we just use our phones? 
btw whats self-assessment again?
! I know it sounds stressful but trust me i got mine done last min and it was a total breeze 
. Gather all ur docs and info beforehand, dont leave it 2 the last sec 
. Stay safe from scams, dont fall 4 that phishing email lol 
. Good luck with ur tax returns, got this! 
! But seriously, taking your time and organizing all those documents can actually save you from a world of headaches down the line. I mean, who wants to spend an entire weekend stressing about a simple tax return? Not me 
. I was way too busy with my online shopping addiction and didn't even think about it till now. I'm definitely not looking forward to filling out all those forms and checking if I have any side hustles that are subject to taxation 
. I mean, who thought it was a good idea to make us all have to deal with paperwork and forms? 
. And what's up with HMRC cracking down on tax evasion involving cryptocurrencies? Like, can't they just focus on the real scammers instead of trying to regulate our entire online existence? 
️ like the deadline is like super close Jan 31st and dont wanna stress about it later 
. and if ur side hustle is above 1000 quid u gotta register for self assessment 
like I was thinking about doing my taxes and I was all confused why do I need to report side hustles