It’s that time of year again – your UK Tax Return should have now been submitted!
Filing a tax return can be a time-consuming process, with a few simple tips and tricks, we can ensure your tax return is done quickly and efficiently.
In this blog post, we’ll be discussing 5 top tips to help you prepare your UK Tax Return quickly and efficiently for the coming years. Read on to find out more!
Get organised early
Just like when planning a holiday, people tend to have everything planned, from booking a hotel to ensuring you have the right flights. The same goes for filing your UK Self-assessment tax return – you should always make sure you’re organised and prepared well before the deadline.
Being organised is important to ensure you can submit your return on time and make sure nothing gets missed out or forgotten which could affect your overall outcome. Having an organised plan and checklist in place will help you to stay on track and make sure everything is ready for the submission date. Plus, it means that next time you do your self-assessment you’ll be able to do it even quicker!
Everyone is organised in different ways, so you should decide whether you prefer to file the self-assessment yourself, or if it’s easier for you to hire RHJ Accountants. Our expert, international tax team can liaise with you to ensure all factors are taken into consideration towards your tax return.
Know what you can claim
When it comes to filing a self-assessment tax return, understanding what you can claim as a business expense is key.
Any expenses you incur in the process of running your business can be claimed back against your taxable income, but you must keep accurate records to prove your expenses.
If you need help determining what you can claim back, our expert team can create a detailed consultancy report to explain the process more clearly. By requesting help from our expert team, in the future, you will be 100% clear about what expenses are eligible for reimbursement.
Register for online filing
Submitting your UK self-assessment tax return on time is extremely important and should not be ignored. To ensure that your submission is received by HMRC as quickly as possible, you should register for online filing on the Gov UK website. This will enable you to submit your self-assessment tax return before the deadline, giving you the best chance of avoiding penalties for late submission.
Unfortunately, the online filing process does not provide any guidelines on what information should be included in your submission, so it is important to get it right. We are here to help you with this, as our expert team know exactly what HMRC require. With their help, you can make sure that your self-assessment tax return is submitted accurately and on time.
Keep accurate records
Having accurate records prior to filing your UK tax return is essential for a successful filing. This helps ensure that HMRC have all the information they need and will be able to process your return in a timely manner. In addition, having accurate records can help improve your overall tax efficiency.
If you would like to review your current or future records, RHJ Accountants can provide bookkeeping services to ensure everything is accurate and up to date. By taking advantage of these services you can guarantee that all relevant information is included and filed by the deadline.
If you find that things are becoming too complicated and time-consuming, then you can always hire RHJ Accountants to take the stress out of filing your tax return. We can help keep things simple and make sure all deadlines are met so you can focus on the more important things.
Hire RHJ accountants
Our final tip would be to hire RHJ Accountants to act as your official accountant.
With our team of experts, we can provide you with a range of accountancy packages to meet your individual needs. Whether you’re just needing to file a UK tax return, or have moved abroad as an expat, we’re here to make sure you’re taking advantage of the double-tax treaty rules in any country you may find yourself in.
Our experienced team is well-versed in the latest tax regulations and can help you make the most of your finances. We offer tailored advice that takes into account your specific circumstances and financial goals. We pride ourselves on offering an efficient and reliable service. So if you’re looking for a way to streamline the process of filing your taxes, our team can assist you every step of the way.
Take the stress out of filing your taxes by working with RHJ Accountants. Contact us today to discuss how we can help you get the most out of your money.