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5 Self Assessment Tax Return Tips in 2022

Below are the most common questions we get asked as tax accountants

When is a Personal Tax Return due for filing?

1. Paper Tax Returns are due for filing by midnight 31 October

2. Online Tax Returns are due by midnight 31 January

3. If the tax bill is under £1,000 then you would pay the tax you owe by midnight 31 January

Who must send in a Personal Tax Return?

HMRC requires that a Tax Return must be completed, if in the last tax year (6 April to 5 April), any of the following was applicable:

1. You were self-employed and earned more than £1,000 (before deducting expenses)

2. You were a partner in a business partnership

3. You earned £100,000 or more

Other scenarios when you would be required to complete a tax return.

1. Income from renting out a property

2. If you have received tips and commission

3. Income received from investments and dividends or interest received from savings

4. If you have been in receipt of foreign income

Need help with your Self Assessment tax return? Call Accounting Solutions Manchester today on 0161 879 7175 for a free, no-obligation consultation. Our experienced accountants in Manchester can ensure your return is completed accurately, on time, and as tax-efficiently as possible.