Self Assessment Tax Return 101: Filling In The Form Fast

  First time filling out the Self Assessment tax return? You’ll need to know what exactly its submission entails.It’s really not your average form. There’s a substantial amount of information you’ll require to ensure you submit it both accurately and compliantly. Thankfully, Mike Parkes from GoSimpleTax has provided the necessary steps to empower you to file with ease. Step 1: Register in time You can’t just fill in the information and send it over – there’s a registration process beforehand. This requires registering for a Self Assessment tax return and Unique Taxpayer Reference (UTR) number.There’s a deadline for this too – 5th October of your business' second tax year. If you don’t meet this, you’ll likely receive a penalty.And if you’ve already missed it, then this doesn’t mean you don’t have to file the tax return. You’ll need to contact HMRC at the earliest opportunity so that they’re made aware and…

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