Do you have money to burn?
The countdown to the filing date for your self assessment tax return is fast approaching. You may think that the 31st January is a long way away, and I guess it is next year, but there is a deadline that few people know about.
If you get your tax return completed online and accepted by HMRC by the 30th December, then you may be able to avoid paying a lump sum on the 31st January IF you also have PAYE income, be it from employment or from a pension pot.
Well, there is a box near the end of the return saying that if you owe less than £3,000 and you have PAYE income, you can have the amount taken from your tax code for the next tax year. The effect is that you can spread your liability across a whole year from 6th April 2015 to 5th April 2016. How’s that for an interest free loan !
Of course, you still need to pull all your numbers together in order to complete the return, so if you don’t feel happy doing it, or confused, or just don’t know where to start, then please complete the form at this link, and we’ll get back to you. http://www.jotformeu.com/form/42104589265356