Under the self-assessment regime an individual is responsible for ensuring that their tax liability is calculated and any tax owing is paid on time, but if you would like to speak to us for some advice, please call us on 01332 813380, we are always happy to help.
The Self-Assessment Cycle
Tax returns are issued shortly after the end of the fiscal year. The fiscal year runs from 6 April to the following 5 April, so 2018/19 runs from 6 April 2018 to 5 April 2019. Tax returns are issued to all those whom HMRC are aware need a return including all those who are self-employed or company directors. Those individuals who complete returns online are sent a notice advising them that a tax return is due. If a taxpayer is not issued with a tax return but has tax due they should notify HMRC who may then issue a return.
A taxpayer has normally been required to file his tax return by 31 January following the end of the fiscal year. The return must be filed by 31 October if submitted in
