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Self assessment deadline approaching

The deadline for submitting your 2017/18 self assessment return is 31 January 2019. The deadline applies to taxpayers who need to complete a tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 National Insurance Contributions (NIC), capital gains tax and High Income Child Benefit Charge liabilities. 

There is a penalty of £100 if a taxpayer's return is not submitted on time, even if there is no tax due or the return shows that they are due a tax refund.

The balance of any outstanding income tax, Classes 2 and 4 NIC, capital gains tax and High Income Child Benefit Charge for the year ended 5th April 2018 is also due for payment by 31 January 2019. Where the payment is made late interest will be charged.

The first payment on account for 2018/19 in respect of income tax and any Class 4 NIC or High Income Child Benefit Charge is also due for payment by 31st January 2019.

HMRC revealed that more than 2,600 taxpayers filed their return on Christmas Day. If you would like help with your return or agreeing your tax liability please contact us.

Internet links: GOV.UK self assessment GOV.UK press release

07 Jan 2019

Scottish Budget 2018 income tax changes

Finance Secretary Derek Mackay delivered the 2019/20 Scottish Draft Budget on Wednesday 12 December 2018 setting out the Scottish government's financial and tax plans.

07 Jan 2019

Scottish Budget 2018 property tax changes

In the 2019/20 Scottish Draft Budget, Derek Mackay announced changes to Scottish Land and Buildings Transaction Tax.

07 Jan 2019

HMRC reminder to employees to claim their tax deductible expenses

HMRC is reminding employees that they may be able to claim a tax rebate on their work related expenses.