It’s likely your clients have received a letter from HMRC asking them to file their 2018/19 tax return by January 2020. Although that’s months away, you can file on their behalf any time after April 6th, 2019
It’s important to prepare returns in advance just in case you need extra forms from your client, which can take a while to return or assistance completing certain sections. Preparing your clients return early also gives you time to give advice and consider any tax planning opportunities.
It also means that you are aware of the tax liability arising from it and your clients will have more time to set aside funds to cover the tax bill and to manage cash flow.
October 31st, 2019
Deadline for submitting ‘paper’ 2018/19 self-assessment returns.
January 31st, 2020
Deadline for submitting your 2018/19 self-assessment return (£100 automatic penalty if your return is late) and the balance of your 2018/19 liability together with the first payment on account for 2019/20 are also due.
April 6th, 2020
First day of the new tax year 2020/21
Is there a better way to manage tax return deadlines?
Yes! With your own branded App, you can streamline this process through powerful communication and data collection tools.
With your own App you can set up small client groups for self-assessment and send notifications and personal reminders to prepare them for the deadline. It enables your clients to receive information on what they need to do, strengthen the relationship and save you valuable time and resources as you prepare for the busiest period of the year.