Every year we all have important dates to remember: birthdays, anniversaries, valentines day etc.
In our work lives there are even more: Payroll deadlines, VAT quarters, annual accounts and many others.
The one key date that seems to cause more headaches than any other is the deadline for filing personal tax returns – 31 January!
Here at Torr Waterfield, we are now getting back to the normal routine with a very successful outcome to January 2016 behind us; well over 500 returns filed in one month!
I know that we are now quite a way into 2016 but how about a late New Year’s Resolution?
For many of you, you will have recently had to find and collate various bits of information needed to complete your tax return; make a resolution now to crack on with this as soon as you can after 5 April and let’s get your next return filed nice and early.
Not only does this ease the pain later in the year but, if there is any tax due, you will have so much longer to plan to set the money aside. It maybe that we can review any payments on account (if you have to make any that is!) that fall due on 31 July, to make sure that you are not paying too much now, only to have a repayment later.
A confession – Although my own, very simple, tax return gets filed very quickly every year, I always resolve to get my clients’ returns done earlier each year. I seldom manage it, but that doesn’t mean that I shouldn’t resolve to try again next time round!
Neil Ford, Technical Manager