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Back to School, Time for Tax

When does summer end? Officially we have until 23 September to enjoy the last rays of summer sun before autumn roars in. But for many, back to school day on 2 September marks the end of the summer and the start of the countdown to Christmas.   

Before we get too carried away there are a few milestones that we should not miss along the way. No, not Halloween and Bonfire Night, although they may carry more significance than normal this year! The milestones that we refer to relate to tax.

Those who are already registered for online self assessment can relax a little as they have until 31 January to complete their returns and pay their dues. That is unless you want HMRC to collect any monies due from your wages or pension payments. In that instance online returns need to be submitted by 31 December.

However, those who still submit paper returns only have until 31 October to submit their return; although they have the same deadlines in respect of payment. And if you need to register for self assessment for the first time whether you are self-employed, not  self-employed,  or registering as a partner or partnership then you only have until 5 October to register with HMRC.

If you are looking for advice on investments, or if your situation has changed and you may therefore need to review your existing pensions or investments, contact Beckworth by using one of the links on our website.