Self-Assessments – Why Plan Ahead?
Published Date: 28th January 2020
Why Plan Ahead?
A Self-Assessment tax return declares all your income for the tax year, including income that has already been taxed at source. If you have paid too much tax during the year you’re likely to receive a rebate.
The tax year for every individual in the UK runs from 6th April to the 5th April of the following year. Please note that a Self-Assessment tax return is completely separate to a Company tax return.
Making the most of the time in hand early in the new tax year allows individuals to get a handle on how much tax they will owe. This kind of early bird planning will certainly give a power boost to your financial decision making over the coming months and allow you to plan ahead with as much certainty as possible when it comes to budgeting, predicting your cash flow and working out how much you have to invest in assets such as vehicles, equipment or business premises.
Let us help you by enabling us to work on your accounts sooner rather than later. We are here to help.
Our Other Blogs
JT AccountS Newsletter Issue Three: Published December 2019
JT AccountS Newsletter Issue Two: Published October 2019
JT AccountS Newsletter Issue One: Published June 2019
What is a Lasting Power of Attorney? A Lasting Power of Attorney (LPA) is a legal document that allows someone to make decisions for you, or act on your behalf, if you’re no longer able to or if you no longer want to make your own decisions.
Following a death, it can be a confusing time and difficult to know what you need to do first.