Following a quiet summer, it is time once again to focus on important tax dates which have a habit of creeping up fast. October has two submission dates that you need to be mindful of so it is worthwhile getting ahead now.
The deadline for notifying HMRC of chargeability for Income Tax/Capital Gains Tax for 2014-15 if you are not registered for Self-Assessment is 5th October.
You will need to complete and submit form CWF1 for self-employment, form SA1 for non self-employed income, or form SA401 for partners.
During this same month you will need to ensure that paper submissions of Self-Assessment tax returns for tax year ended 5 April 2015 are sent off and received by HMRC no later than midnight on 31st October.
It may just be a coincidence that this date falls on Halloween, but certainly the penalties for late filing of tax returns are a scary thought so to make sure you are not kept awake at night, make sure you give yourself plenty of time to send off your submission.
At Moore Thompson we provide a range of services to keep clients both tax-efficient and fully compliant. For more information about what we do, please contact us.