By Mel Hackney

It’s early June – we’re into the new tax year. Most people won’t have started thinking about their personal tax return yet. But, did you know that if you get your return in before 31 July and your liability is lower than it was last year (and assuming you haven’t elected to reduce your payments already), the amount you owe on 31 July as a payment on account will automatically reduce as a result? Getting your return out of the way early into the new tax year also gives you plenty notice of advance liabilities arising, and more opportunity for cash flow management.

We have already started personal tax returns here at Frost Wiltshire – get in touch if you would like to discuss whether we can help you with your return this year.