Yesterday (6 April) was the first day of the new tax year for individuals, and we have already submitted our first client tax return! Why not make this the year when you submit early? There are many reasons why this is a good idea, such as:
If you're due a refund, you can get the money back earlier;
If you need to pay tax based on the return, at least you will know how much it will be and you will have 9+ months to save/put aside the right amount so there's no last minute surprise;
If you are in the payment on account regime and your income has fallen in 2020/21, you may be able to reduce the payment due for 31 July 2021;
The closer it is to the year end, the easier it is to remember details about what happened, and find relevant paperwork;
It is out of the way and you don't need to think about it for another year!
So contact Wyche Accountants early for advice or assistance in completing your return, or hand it over to us completely and take away the stress.
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