With the 31 January Self Assessment deadline approaching, HMRC’s tax agent bloghas rounded up the most popular questions and answers to help those of you who are new to self assessment or those of you who are unsure if you should be completing a tax return.
The key question addressed is,do I need to fill in a tax return?
You usually won’t need to send a return if your only income is from your wages or pension. You will need to send a tax return if any of the following apply, in the last tax year:
You were a trustee of a trust or registered pension scheme
You had a P800 from HMRC saying you didn’t pay enough taxlast year – and you didn’t pay what you owe through your tax code or with a voluntary payment
Your State Pension was more than your Personal Allowanceand was your only source of income – unless you started getting your pension on or after 6 April 2016
Remember that from 13 January, HMRC will no longer be accepting credit card payments as new rules mean HMRC can no longer pass on the fee its bank charges for processing a personal credit card payment. There are still plenty of other ways to pay.
A secure cloud-based managed payroll system that takes care of everything – from data input and processing through to online distribution and digital reporting, as well as payments to employees, HMRC and pension companies.