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Self Assessment Tax Return Checklist 2009-10

Keith — Sun, 02 May 2010 13:14:38 +0000

To help you collate the information you need to prepare your self assessment tax return for 2009/10 we have prepared a useful checklist for you to download.

HM Revenue & Customs must receive your tax return by 31 January 2011 to avoid a penalty.

The earlier you prepare your accounts and tax return the better. You can claim any refunds promptly to help your cashflow and where tax is due; you will have plenty of time to plan your tax payments.

Tax deductible expenses

Keith — Wed, 30 Apr 2008 23:00:44 +0000

This tip gives a brief list of the types of expenditure you can claim, some of which you may already be deducting, some may be new to you and applicable to your business. As a general tip, if you are using a credit card to pay for business costs, have a separate one in your name for business use, so that your personal expenditure is kept out of the business. Cashback or Reward cards are ideal, especially if you pay them off in full.

Maximise use of your basic rate tax band

Keith — Wed, 11 Jul 2007 23:00:51 +0000

We recommend to all our clients that they maximise the use of their basic rate band. This can be done by declaring interim dividends to take total taxable income upto the maximum at which the basic rate will still apply. As dividends have a 10% tax credit attached, this tax credit can be used to effectively pay your personal tax liability on the dividend.