A comprehensive guide to how, when and why a self assessment tax return has to be filed from leading London Chartered Accountant, Wisteria. http://www.wisteria.co.uk/

1. Self Assessment Tax Returns Top Tips from Wisteria Chartered Accountants

2. Why would I need to complete a tax return?

3. If you... Are self employed Have untaxed investment income Are a Director of a UK company Own a rental property Realise a Capital Gain Are a partner in a partnership Have changed your tax residence during the year You need to complete one

4. Do you know the key dates?

5. 30th September The deadline for submission of your tax return if you want HMRC to calculate your tax liability for you 31st October The filing deadline for paper self assessment tax returns 31st January The filing deadline for electronic self assessment tax returns

6. Tip 1. Organise your tax affairs on a spreadsheet before attempting to prepare your return If you prepare your return from lots of different statements, receipts and forms you are more likely to make mistakes. Plus the spreadsheet will act as a useful checklist for next year.

7. Tip 2. Don’t wait until January to prepare your return Leaving your return to the last minute means a mad rush and your return could be more complicated than you expect. The HMRC computer system, phone lines and website often overload and crash during this period, making submission much more difficult.

8. Tip 3. Submit your tax return online Online submission is easier, online help is available along the way and the process is less complex than using the paper form. Plus you have an instant acceptance meaning that you do not have to rely on the post.

9. Tip 4. Make sure you pay your tax liability on time Submitting your tax return correctly and on time is only half of the job. Make sure you pay all relevant liabilities when they are due to avoid interest and surcharges.

10. Tip 5. Consider asking for professional help If your affairs are more complex than expected or you have an issue which you are unsure about, it’s worth speaking to an expert, such as a Chartered Accountant or Tax Adviser. They can take the stress out of preparing your return and the value of the tax saving advice they offer often exceeds the fees charged.

11. Where can I go for more information? For advice in relation to Self Assessment Tax Returns or tax matters in general, Wisteria’s tax experts can help. For more information visit: www.wisteria.co.uk Or contact us on: 020 8952 0140 Emailinfo@wisteria.co.uk