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Tax Return Tips for Doing it Yourself.

By Julie Keen. Posted On 7 Dec 2017. Last Updated 7 Dec 2017.

If you are filing your own tax return, this needs to be submitted no later than the 31st October if you are filing by paper, or 31st January if you are filing online. Be aware that any late filing always attracts penalties regardless if you owe any tax or not. As a minimum, you will be fined £100 for late filing but penalties can be substantially more.


Have you registered for self-assessment?

If not you need to do this before you file any tax returns as you will need your unique taxpayers' reference (UTR). This is issued automatically if you register as self-employed.


Are you registered for online services?

If you are going to file your tax returns online via the HMRC’s website, you need to make sure you are registered for their online services. This will take a little bit of time as you will need an activation code posting out to you, so make sure you allow plenty of time. Follow this link for more information and registration.


Claim the appropriate tax relief.

If you make donations to charity or pay into a personal pension then make sure you claim the appropriate tax relief. Many people don’t report these but they could reduce your tax bill.


Make sure you claim all of your expenses.

Many people forget to claim all their allowable expenses and this will result in you paying more tax than you are obliged to pay.


Don’t make any mistakes.

When completing your self-assessment, make sure you fill in all the boxes correctly, especially where your income and expenses is concerned. HMRC have sophisticated software that can select tax returns that warrant a follow up of further investigation.


Seek professional advice.

Avoid costly mistakes and seek professional help. If you are unsure or need a little help always seek professional advice. Yes, it might cost you but, you can pretty much guarantee it will be an awful lot less than the penalties you will get if you made a mistake.



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