Self Employed Tax Return

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jhill
jhill Registered Posts: 23 New contributor 🐸
in General accounting discussion
Hi All

Am i right in saying that once the return is complete you send it off without payment. The HMRC then calulate the tax & nic due and duly inform you.

if this is not right please advice. BIG THANKS

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  • deanshepherd
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
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    If you send the tax return off now, HMRC won't have time to calculate your tax and advise you before it falls due on the 31st.

    If you complete it online then a calculation is done instantly.
  • ASIM
    ASIM Registered Posts: 5 New contributor 🐸
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    hi,

    They only calculate the TAX if it is Submitted before september if i remember right. however i know for definate that they do not calculate it for you in January as it is very busy at this time
  • claudialowe
    claudialowe Registered Posts: 275 Dedicated contributor 🦉
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    If you submit the return now, you have to calculate the tax due and get it in there before 31st.

    30th September is the deadline for HMRC to calculate tax on your behalf.

    Claudia

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