By Steve Wiltshire

Christmas is just around the corner. And – just beyond – is the deadline for filing your 2020.21 self-assessment tax return.

It must be with HMRC by 31 January 2022, but if you haven’t got round to completing it yet, or are concerned about a large liability – don’t worry! You are not alone, and we might be able to help. We might even be able to reduce your liability with some tax planning suggestions.

Also, don’t forget that even if you don’t need to complete a tax return, if you have allowable employment expenses you may be entitled to a refund of tax! For example, if you drive business mileage as part of your job, and your employer pays you less than the allowable amount (45p for the first 10,000 miles and 25p thereafter) you can claim the difference as a deduction against your taxable income, saving tax at up to 45%.

If you would like to have a chat, please don’t hesitate to call us and we can go through what you need and how we can take away that burden hanging over you.

Photo by Rodion Kutsaev on Unsplash