Well all of a sudden we are in March and the tax year is almost over!
That means that people like me will be nagging people like you for your paperwork and books for the tax year so that we can finalise your accounts and/or self assessment return.
The tax year finishes on 5th April 2018 and from that point self assesssment returns can be submitted at any time through to the deadline on 31st January 2019. That seems like a very long time but those weeks and months will soon fly by. If you don’t know how much tax you need to pay by the deadline you could be very unpleasantly surprised by a large tax bill.
The easiest way to avoid this scenario is to get your paperwork and records to your bookkeeper or accountant as soon after the year end as possible. They can then produce your self assessment tax return and you will know, many months in advance, how much tax you have to pay (or are having refunded if applicable).
Get your paperwork together while it’s fresh in your mind and it will take a huge weight off your mind when you hand it all over to a professional to deal with!