Self Assessment Statement

Yes folks it as that time of year again! When all self employed people are trying not to think about the tax returns they still have to file, whilst going out and buying those Christmas presents.

Us accountants brace ourselves for the influx of paperwork we have been asking for over the last few months and waiting for the reasons and excuses why this has not happened in plenty of time – again!

Not everyone is the same though and some reasons are quite understandable, recently I was sent a half eaten statement from a client and it made me laugh! My client even knew which one of his dogs it was!!!

In the past the HMRC would send out examples of poor excuses, like these here

https://www.which.co.uk/news/2019/01/cursed-by-my-mother-in-law-hmrc-reveals-the-worst-excuses-for-late-tax-returns/

and we would try to make sure that OUR clients all had something sensible submitted on time!

With Making Tax Digital (MTD) confirmed for roll out in 2023 though, this may become a thing of the past, with quarterly filing of Self Assessment accounts online. The HMRC are looking to bring the majority of self employed people online and filing returns in the same way as VAT registered business are now under MTD for VAT.

So enjoy Christmas as much as you can, and please bear this in mind when getting your paperwork together to file those Tax returns before 31st January!

By the way my clients tax has been filed despite the dogs best efforts!!

Ella M Doherty FCCA