Well, we would not advise this but if you do decide you’d rather save some money and do your self-assessment on your own then please check the following:
- Ensure you include all income sources.
- Check for capital gains (if you don’t know what this is then hmm get an accountant! – We won’t be mean, give us a call we may be able to offer some free advice – maybe!).
- Bear in mind that you need to make payment for future earnings – HMRC knows how you spend ha!
- Make sure you report losses.
- A brilliant way to do 2 things at once, save on tax and save for the future – Pension Contributions.
- Are you a tithers or do you make Charitable donations? Call up and get total amount you donated if unsure.
- What other investments have you made that you could gain tax relief from?
- Are you moving from self-employed to employed, you could have your tax collected through future PAYE instead…
- Are you a high income earner? Ensure you tick section on child benefit, pay now or at an inconvenient time.
- Lastly ensure you get a Confirmation reference!
We have listed some very, very basic suggestions, in reality everyone’s circumstances is different, so to ensure you get this right, use a trustworthy accountant who has an interest in your personal and financial growth plans.
Here comes the plug; For less than £10 a month, you could have us complete your self-assessment for you and ensure that you are complaint and tax efficient. Give us a call today on 0203 916 5108.
