Knowing what type of return to file for your tax can save you the time, trouble, and expense of completing the full Self Employment supplementary pages (SA103F), where you’re required to detail all of your expenses. If you’re self-employment turnover is less than the VAT registration threshold (£85,000), then you can complete the two short pages (SA103S) instead.
If you’ve been making payments on account, you need to carefully check your online tax return submission, as the associated tax calculations will show the tax that is due for the year – not the balance which needs to be paid. Any payments made during the year need to be deducted from the liability, and the balance, plus the first payment on account for the following year, paid by 31 January after the end of the tax year.
If you need help to get your tax return filled, filed, and finished on-time, then don’t leave it until the last minute and risk getting a penalty fee from HMRC!
Get in touch today, our experts are fully trained and qualified to help you get it done properly. Connect with us through our website and discover why Yorkshire Accountancy is the right choice for your accounts.
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