12 Apr New tax year – new start?
New Tax year – new start?
It’s that time again – the start of the new Tax year. The new Tax year gives individuals a chance to complete their annual self-assessment Tax Return instead of waiting to the final due day of 31st January. Tax is that hated subject that may people feel needs to be ignored and left to the last minute. Should YOU do your Tax earlier?
So many people could use the start of the Tax year to their benefit. For example: –
People working under the Construction Industry scheme who have been stopped Tax all year have a chance to get their overpaid Tax back early. So its not earning the government interest but themselves.
Bad year – get your Tax back or Reduce your July Tax bill
Peoples who’s income has dropped, can also get their Tax back or potentially reduce their July 2013 tax bills.
Good year – Changing your trading status?
Have you had a good year? Well you may have a larger Tax bill and it could be beneficial for you to change you trading status so it more beneficial for you.
Planning – Tax or to move your business forward?
Planning, do you want your money to go further for you? Planning is important and being up to date can help you with getting a mortgage. Knowing your business is just as important as knowing about your customers business.
So its a fresh year, so why don’t you make a change and get your Tax Return done earlier. It can only help you and your business.
Work with an accountant that can help you and your business. Don’t fall into the trap of leaving it to the last minute. Its a new tax year so make sure this year is better than last.
Blog prepared by Kenny Harrison – Why not have a look at Kenny’s Linked in Profile here