It’s that dreaded time of year… and no we don’t mean All Hallow’s Eve! 31st October is the SATR Deadline – but only if you’re completing a paper form.
You are likely to be charged a financial penalty if you miss the paper deadline – so we don’t recommend that you send it off late. Instead, apply for your Unique Taxpayer Reference number because you still have until 31st January 2018 to file your return online. (If you need any help with calculating tax or filing returns – drop us a line and we’ll be very happy to assist.)
As well as the longer deadline, there are other advantages to submitting your tax return online:
- Tax is calculated automatically when you fill in the return.
- The system pre-fills elements of the form with information it has on file for you (address/NI number etc) and removes irrelevant sections – so it’s far less complicated and time-consuming.
- If you get distracted – you can save the sections you have filled in and complete the form at a later date simply by signing in.
- You get an instant confirmation message and reference number for peace of mind that it has been submitted successfully by the deadline.
- If HMRC ever owes you money – you get a faster repayment!
It’s also worth noting that if you file online and submit your tax return by 30 December, providing the tax you owe is less than £2,000 you can opt for this to be collected through PAYE.
Here at Link Accounting we specialise in Tax and Investigations. So if you’d like proactive, timely and targeted advice on how to improve your personal finances – give us a call to discuss our Personal Tax service in a bit more detail: 01295 720500