The end of the tax year, 5th April, is a day or two away, so time to think about taxes for 16/17
Self Assessment – if we prepare a Self Assessment return for you, then we need a Self Assessment Questionnaire please. By end of September, but sooner is good.
P11D – Expenses and Benefits – if you trade through a limited company, or are an employer, we need a P11D questionnaire please. By end of April at the latest
Bookkeeping – in terms of your business bookkeeping and records:
- If you are a PSC and use our spreadsheet, then complete the Year End Questionnaire which is embedded in the spreadsheet at the same time as completing quarter 4 and send everything to us – thats all we need
- For any other business clients, please see our Guidance on Year End Procedures
- For our YogaTax clients, head over to Working With Us for a list of what we need
- Generally, we need your 16/17 records no later than end of September.
Finally, client of ours or not, here are a few tips to try and make year end as pain free as possible:
- Start early, and don’t leave your taxes to January. Last minute rushes are not helpful to anyone, and its when errors and mistakes occur and people get frustrated.
- On the theme of starting early, the sooner your return is done, the sooner you know what to pay and you can plan for tax bills.
- Use an expenses checklist to make sure everything is complete before you pass everything to your accountant or file yourself.