Self-Employment Tax Returns deadline looms

Newsletter issue - December 2023

We're reaching that familiar point of the year again when the deadline for Self-Employment Tax Returns begins to loom.

The best advice we can always offer to our clients is to collect all the relevant information and documents and share these with us as soon as possible. Of course, the key date everyone focuses on each year is January 31 - the HMRC deadline for submissions.

However, it's wise to provide your tax return information to us before the new year to ensure there are no last-minute rushes and to escape unnecessary stress. And crucially, of course, so that the deadline can be met successfully.

The 31 January is also the deadline to pay your tax. Therefore, another key point here is that by waiting until the end of January, you could find yourself in a situation where you've had an unexpectedly large tax bill. And you would be required to pay that sum immediately. By submitting your return forms earlier than January, it means you'll more breathing space to prepare to for the tax you owe HMRC. Or, on a more positive note, you may even be eligible for receiving a refund early.

What our clients say about us...

  • "Paul has provided accountancy services to my company for 2 years now. I can recommend Paul very highly; his skills as an accountant are highly detailed and professional and he is always available to provide advice. One aspect of the way Paul works that I greatly appreciate is a preference to meet face to face when there is a detailed conversation to be had. I personally find this more productive and is a benefit of working with a small accountancy firm that you wouldn't get with the large faceless providers."

    ALISTAIR FAIRWEATHER - PROGRAMME & PROJECT MANAGER, DELIVERING/RESCUING I.T. 7 BUSINESS CHANGE WITH BUDGETS UPTO £50M INC SUPPIER MANAGEMENT

  • "I couldn't ask for more from Paul as an Accountant. Paul has been accountant to Work Relief Charity Recruitment for just over a year now and is proving an invaluable asset. Accurate, knowledgeable, flexible with an emphasis on service delivery, I would recommend Paul's services to any organisation looking for an accounts professional."

    Neil Price - Managing Director at Work Relief Charity Recruitment

  • "Paul was a referral from a family member when I started my business 2 years ago. As this was the first time I had ever run my own company I was totally clueless over the financial side of matters and was worried that I may have made mistakes in any of my accounting. I needn't have worried as after enaging Paul for a set monthly fee he was always there on the end of the phone for all sorts of questions I had and no matter how trivial they were Paul gave me all the information I required and more and did an excellent and painless job at the end of my first year! Couldn't ask for any better to be honest. Just two words - hire him!!!"

    Lee Westrap MBCS - Director - Bulldog IT Services

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Booth & Co  |   The Hermitage  |   15a Shenfield Road  |   Brentwood  |   Essex  |   CM15 8AG        Telephone: 01277 224666    |   Email: info@boothandco.co.uk