AccountantsAlexanderEneAnnounces PersonalTaxReturnPreparationAutomation
AUKPersonalTaxReturn
providesdetailsofyourincome andanytaxdue,suchas employment,self-employment, savings,pensionsorcapital gains.
Ifyouearnincomeorcapitalgains thatrequirereporting,HM RevenueandCustomsrequires thataPersonalTaxReturnformis filledouteachyearinorderto reportthem.
TaxonUKPersonalTax Returnswilldependon bothyourincomeand circumstances.
Ifyouareself-employedorearn incomefromsourcesnotcovered byPAYE,HMRCrequiresthata UKPersonalTaxReturnbefiled annuallyinordertocalculatehow muchtaxisduefromyou.
Yourtaxreturnmustbefiledno laterthan31Januaryfollowingthe endofthetaxyeariffilingon paperand31Octoberforthose usingelectronicfilingsystems, respectively.
Self-employedSelf-employed individualsintheUKmustfile theirannualtaxreturnby31 Januarytopayanyoutstanding taxesowed.
UntaxedincomeIfyoureceived untaxedincomefrominvestments, landorpropertyormadecapitalgains inthetaxyearthenRevenue& Customsrequiresyoutocompletea taxreturninorderforthemtoassess howmuchtaxisdueonthem.
PenaltiesHMRCmay chargepenaltiesfor noncompliancewithUK PersonalTaxReturns.
Thesecouldresultfrom carelesserrors,intentionaltax evasionorfraudschemesor simplybeingtardinfiling one'sreturn.
HMRCcancancelapenaltyonappeal ifyoucandemonstrateyouhavea goodreasonforlatefiling-forinstance duetoillness,severeinjuryorother personaldifficultieswhichprevented youfrommeetingyourtaxobligations ontime.
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