Reminder to UK taxpayers who need to complete a tax return for the 2023 to 2024 tax year to notify HMRC by 5 October 2024. This can be done by registering for Self Assessment.

Before customers can complete their first tax return, they must register with HMRC. To begin with, taxpayers should apply for their UTR, which is essential for filing a Self Assessment tax return. What is UTR? UTR is a unique tax reference for individual taxpayers or entities responsible for filing and reporting their earnings during the tax year. For the 2023 to 2024 tax year, the final deadline for online submissions is 31 January 2025. Any submission after this date will be considered a late filing and may incur penalties and/or warning notices. To avoid penalties, taxpayers should observe this deadline and prepare accordingly.

We encourage taxpayers to plan ahead to ensure the timely completion of their Self Assessment. Filing early provides benefits such as knowing the amount owed in advance, allowing better budgeting and payment at a convenient time. If a refund is due, customers could receive it sooner. The payment deadline for any owed tax is 31 January 2025. Tax calculation may take some time for HMRC’s computation, and you may or may not be informed after the computation. For good reason, preparing earlier rather than later is always recommended.

Elaga Accountancy is a UK-practising accountant, registered HMRC tax agent, and well-experienced in all UK tax matters. A recent announcement from HMRC emphasised the importance of recognised professional bodies and AML supervision, of which we are IFA accountants, fully recognised by various authorities, including HMRC, Companies House, and the Home Office. We handle tax filings and matters, including Company Tax Returns, Self Assessment Tax Returns, VAT filings, Payroll, Direct Payment Schemes, and various other tax issues. We believe we can help you manage your tax matters efficiently and effectively.

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