UK taxpayers have until January 31st to file their self-assessment tax returns for the tax year that ran from April 6th, 2024, to April 5th, 2025. Failing to meet this deadline can result in penalties and fines.
To avoid last-minute stress, it's recommended to set aside enough time over the next few days to complete your return. This will help you gather all necessary documents, such as your P60, P45, P11D, or PAYE coding notices and tax certificates for investments. You can also use HMRC's online tool to check if you need to do a self-assessment.
One of the most daunting sections on the form is often the pension section. However, claiming relief on your pension contributions is essential if you're eligible. There are different rules depending on whether you're in a "relief at source" scheme or not. If you're a higher-rate taxpayer, you'll need to claim extra relief.
Don't forget to include any regular charity donations that qualify for gift aid, as these can also be claimed against your income. The HMRC department is urging people to stay alert to potential scams before the deadline, reminding them never to click on suspicious links or share personal information.
For those who receive suspicious communications, they can forward emails to [email protected] and text messages to 60599. If you need help with your tax return, HMRC's YouTube channel offers short "how-to" videos that cover topics such as viewing your self-assessment tax return calculation or using the HMRC app to make a payment.
In addition to these tips, here are some key points to consider when filing your self-assessment:
* You'll need to report any gains and losses from cryptocurrency investments.
* Your "adjusted net income" will be important in determining how much child benefit you're eligible for.
* There's an earnings threshold of £60,000 a year for high-income earners who claim child benefit.
* Regular charity donations subject to gift aid should also be included in your return.
By following these tips and being aware of the potential scams, you can ensure a smooth and stress-free experience when filing your self-assessment tax return.
To avoid last-minute stress, it's recommended to set aside enough time over the next few days to complete your return. This will help you gather all necessary documents, such as your P60, P45, P11D, or PAYE coding notices and tax certificates for investments. You can also use HMRC's online tool to check if you need to do a self-assessment.
One of the most daunting sections on the form is often the pension section. However, claiming relief on your pension contributions is essential if you're eligible. There are different rules depending on whether you're in a "relief at source" scheme or not. If you're a higher-rate taxpayer, you'll need to claim extra relief.
Don't forget to include any regular charity donations that qualify for gift aid, as these can also be claimed against your income. The HMRC department is urging people to stay alert to potential scams before the deadline, reminding them never to click on suspicious links or share personal information.
For those who receive suspicious communications, they can forward emails to [email protected] and text messages to 60599. If you need help with your tax return, HMRC's YouTube channel offers short "how-to" videos that cover topics such as viewing your self-assessment tax return calculation or using the HMRC app to make a payment.
In addition to these tips, here are some key points to consider when filing your self-assessment:
* You'll need to report any gains and losses from cryptocurrency investments.
* Your "adjusted net income" will be important in determining how much child benefit you're eligible for.
* There's an earnings threshold of £60,000 a year for high-income earners who claim child benefit.
* Regular charity donations subject to gift aid should also be included in your return.
By following these tips and being aware of the potential scams, you can ensure a smooth and stress-free experience when filing your self-assessment tax return.
Can't believe they're making us do this again so soon... Alright though, I get it. Tax season is like, a thing now. If you wanna avoid being a jerk to HMRC, make sure you've got all your ducks in a row (P60s, P45s, that kinda stuff). Don't be one of those people who leaves it till the last minute and then freaks out when they're stuck in "penalty land". 
Just take a few days to sort yourself out, and check if you need to do a self-assessment. If you're feeling overwhelmed, watch some YouTube vids or use their app (whatever, I guess). And for the love of all things good, don't fall for those phishing scams, fam! 
. It's like, how are you supposed to even claim relief on your pension contributions if you're not even sure what you're doing? 
... anyone else getting anxious about tax season? 
At least they have those online tools now, so we can at least try to make sense of it all 
. I mean, who thought it was a good idea to make people submit all their financial info by Jan 31st? Can't they just give us an extension or something? Like, I get it, we need to pay our taxes, but do we really need to stress about it till the last minute? 
.
. That's one less thing to worry about when trying to not lose my mind over taxes. And if you need help, there are YouTube videos and an app for that too... because we all know how love watching short videos on our phones 
.
Why do we gotta stress about this? It's just taxes 
?
Phishing alert! Don't fall for suspicious links or share personal info 
. Forward those emails to 
HMRC's got your back 
! YouTube vids and the app can help you with your tax return 
. And don't even get me started on the pension section - it's like they're trying to confuse us on purpose 
. And please, for your own sake, be careful of those phishing scams 
. You don't want to fall victim to some scammers who are just trying to steal your identity. Take the HMRC's tips and use their resources - they're actually pretty helpful 
. But honestly, I'm just over here hoping I don't have to deal with any last-minute stress or financial headaches 
. Wish me luck! 
️. Don't forget to check those pension contributions - claiming relief is a no-brainer for eligible folks 
. And yeah, keeping an eye out for scammers is super important 
They're like, 5 minutes long and barely cover anything! I'm still trying to figure out what to do with my cryptocurrency investments... 
Right now, we're stuck with the HMRC app and YouTube videos... it's like we're expected to be self-sufficient or something! 
. Can we please just get HMRC to simplify their forms a bit? The pension section always has me scratching my head 
. And don't even get me started on those scams... it's like, can't we just be safe online already?! 
. And don't even get me started on the scams 
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