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Planning for your self assessment tax bill

Keith — Mon, 03 May 2010 14:10:55 +0000

The UK tax year is 6 April to the following 5 April. So the tax year 2010/11 ends on 5 April 2011. If you are self employed or a limited company director you will need to complete a self assessment tax return. Although the deadline is 31 January for e-filed returns, we recommend that you complete your tax return and submit it to HM Revenue & Customs as early as possible. Click here to download a useful pdf tax return checklist. A self employed person will pay both income tax and class 4 national insurance (NI) on their profits plus income tax on any other income and capital gains tax on any relevant capital gains in the tax year.

Self Assessment Tax Return Checklist 2010-11

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 2010/11 we have prepared a useful checklist for you to download.

HM Revenue & Customs must receive your tax return by 31 January 2012 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.

How to register your new PAYE scheme

Keith — Thu, 29 Oct 2009 11:00:00 +0000

This article and video gives easy to follow, step by step instructions on registering a new PAYE scheme with HMRC. A new scheme can be registered either online at www.hmrc.gov.uk , by telephone ( 0845 60 70 143) or in writing. Once your scheme is registered you will receive notification of your new scheme in writing and it will be given two reference numbers.